Justice Khanna, who will serve as CJI for a little over six months, will demit office on May 13, 2025.
The total tax burden on Indian companies is one of the highest in the world and in fact more than that of businesses in major economies like the US, UK, China and Japan.
Penalties for non-disclosure or inaccurate disclosure of these details can be severe.
Initial findings reveal that the tax code has received an overwhelmingly positive feedback
Non-compliance can also result in legal complications and disputes with the tax authorities.
If you are an NRI and have a business or asset in India, that provides you with income, you are required to pay income tax just like any other Indian. Indian taxation laws are quite different for NRIs and it is important that you are aware of what you are liable to pay.
The combined share of customs and excise duties, service tax, and value-added tax in India's gross domestic product reached an all-time high of 10.5%.
The ministry said it was an anti-abuse provision amid growing instances of NRIs shifting their stay in low or no-tax jurisdiction to avoid tax payment in India.
