印度最主要20種稅收介紹英文版2016年1月13日更新

1、印度主要20種稅收介紹英文版（2016年1月13日更新）20TypesofTaxesinIndia(2016年1月13日更新)ByShitanshuKapadia|InIncometax|LastUpdatedJanuary13,2016|44CommentsEversinceIstartedworkingfulltime&earningatageof23years,IhavestartedcomplainingtomyfatherseehowmuchIpaidintaxes,myfatheralwaysusetosayyouhavestartedpayingtaxesitsgoodt

2、hingthatyouearnedanincome.”Howmanyofyouactuallylovetopaytax&howmanyofyouknowthatgovernmentaskustopaytaxvia20differentmanners?InthisarticleIwillprovideyoubriefinformationaboutthese20taxesinIndia.AlsoRead-20TaxFreeIncomesinIndiaTaxisimposingfinancialchargesonindividualorcompanybycentralgovernmento

3、rstategovernment.CollectedTaxamountisusedforbuildingnation(infrastructure&otherdevelopment),toincreasearmsandammunitionfordefenseofcountryandforotherwelfarerelatedwork.That'swhyitissaidthat“TaxesarepaidnationaremadeTypeofTaxesinIndia:-DirectTaxes:-Thesetypesoftaxesaredirectlyimposed&paid

4、toGovernmentofIndia.TherehasbeenasteadyriseinthenetDirectTaxcollectionsinIndiaovertheyears,whichishealthysignal.Directtaxes,whichareimposedbytheGovernmentofIndia,are:(1) IncomeTax:-Incometax,thistaxismostlyknowntoeveryone.Everyindividualwhosetotalincomeexceedstaxablelimithastopayincometaxbasedonprev

5、ailingratesapplicabletimetotime.BydoinginvestmentincertainschemeyoucansaveIncomeTax.AlsoRead:-14TaxSavingOptions2014ForFY2015-16Incometaxratesare:-IncameTaxSlabsfor2015-11Formal豈andFemaleIncomeTaxRateUptoRS2,50.000/-Nit*52,50,001/-to5Mo00/r10%常5,00,001/-toRs10,00r000/-20%R51600,001八toRs100/00.3Rs100

6、,00,WOabove20+10%(Suriharge)ForresidentIndividualof50YearsandaboveUptoRs3幽000/-NilRs3,00,001/-toRs5,00,000/-10%Rs5W,817-toR510,00,/-20%M1600,001/.toR5100MD00八RslOTOO.WOabove(Surcharge)(2) CapitalGainsTax:-CapitalGaintaxasnamesuggestsitistaxongainincapital.Ifyousaleproperty,shares,bonds&preciousm

7、aterialetc.andearnprofitonitwithinpredefinedtimeframeyouaresupposedtopaycapitalgaintax.Thecapitalgainisthedifferencebetweenthemoneyreceivedfromsellingtheassetandthepricepaidforit.Capitalgaintaxiscategorizedintoshort-termgainsandlong-termgains.TheLong-termCapitalGainsTaxischargedifthecapitalassetsare

8、keptformorethancertainperiod1yearincaseofshareand3yearsincaseofproperty.Short-termCapitalGainsTaxisapplicableiftheseassetsareheldforlessthantheabove-mentionedperiod.Rateatwhichthistaxisappliedvariesbasedoninvestmentclass.Example:-Ifyoupurchaseshareatsay1000Rs/-(pershare)andaftertwomonthsthispriceinc

9、reasedto1200Rs/-(pershare)youdecidetosalethisstockandearnprofitof200Rs/-pershare.IfyoudosoyouhavetopayShorttermCGT(capitalgaintax)10%+Educationcessonprofitasitisshorttermcapitalgain.Ifyouholdsamesharefor1yearoraboveitisconsideredaslongtermcapitalgainandyouneednottopaycapitalgaintax.itisconsideredast

10、axfree.Similarlyifyoupurchasepropertyaftertwoyearifyoufindthatpropertypriceinwhichyouinvestedhasincreasedandyoudecidetosaleityouneedtopayshorttermcapitalgaintax.Forpropertyitisconsideredaslongtermcapitalgainifyouholdpropertyfor3yearsorabove.(3) SecuritiesTransactionTax:-Alotofpeopledonotdeclaretheir

11、profitandavoidpayingcapitalgaintax,asgovernmentcanonlytaxthoseprofits,whichhavebeendeclaredbypeople.TofightwiththissituationGovernmenthasintroducedSTT(SecuritiesTransactionTax)whichisapplicableoneverytransactiondoneatstockexchange.Thatmeansifyoubuyorsellequityshares,derivativeinstruments,equityorien

12、tedMutualFundsthistaxisapplicable.Thistaxisaddedtothepriceofsecurityduringthetransactionitself,henceyoucannotavoid(save)it.Asthistaxamountisverylowpeopledonotnoticeitmuch.CurrentSTTRatesare:-SeciuitisTransactionTaj：MarketTyp®CurrentRatejFimircs&Options|0.017%：，一pitalMaik由divery)0.125%Capita

13、lMarket(Tntra-Day)j6,025%http:/str曰tueno-si*owth.iii(4) PerquisiteTax:-EarliertoPerquisiteTaxwehadtaxcalledFBT(FringeBenefitTax)whichwasabolishedin2009,thistaxisonbenefitgivenbyemployertoemployee.E.gIfyourcompanyprovidesyounon-monetarybenefitslikecarwithdriver,clubmembership,ESOPetc.Allthisbenefitis

14、taxableunderperquisiteTax.IncaseofESOPTheemployeewillhavetopaytaxonthedifferencebetweentheFairMarketValue(FMV)ofthesharesonthedateofexerciseandthepricepaidbyhim/her.OnlineIncomeTaxCalculator(5) CorporateTax:-CorporateTaxesareannualtaxespayableontheincomeofacorporateoperatinginIndia.Forthepurposeofta

15、xationcompaniesinIndiaarebroadlyclassifiedintodomesticcompaniesandforeigncompanies.TypeofCotnpanyTotalincomemoretbmIXK10milLioaT«ttlincomelessR10tiullioitDomesticCompany30%TSurcharge-EdUddanCess30%十EducduonCessFoieisniCompanv40%+-"EducztioiiCessInadditiontoaboveothertaxesarealsoapplicableo

16、ncorporates.IndirectTaxes:-(6) SalesTax:-Salestaxchargedonthesalesofmovablegoods.SaletaxonInterStatesaleischargedbyUnionGovernment,whilesalestaxonintra-Statesale(salewithinState)(nowtermedasVAT)ischargedbyStateGovernment.Salescanbebroadlyclassifiedinthreecategories.(a)Inter-StateSale(b)Saleduringimp

17、ort/export(c)Intra-State(i.e.withintheState)sale.StateGovernmentcanimposesalestaxonlyonsalewithintheState.CSTispayableoninter-Statesalesis2%,ifCformisobtained.EvenifCSTischargedbyUnionGovernment,therevenuegoestoStateGovernment.Statefromwhichmovementofgoodscommencesgetsrevenue.CSTActisadministeredbyS

18、tateGovernment.ServiceTax:-Mostofthepaidservicesyoutakeyouhavetopayservicetaxonthoseservices.Thistaxiscalledservicetax.Overthepastfewyears,servicetaxbeenexpandedtocovernewservices.Fewofthemajorservicewhichcomesundervicinityofservicetaxaretelephone,touroperator,architect,interiordecorator,advertising

19、,beautyparlor,healthcenter,bankingandfinancialservice,eventmanagement,maintenanceservice,consultancyserviceCurrentrateofinterestonservicetaxis14.5%.Thistaxispassedontousbyserviceprovider.(8) ValueAddedTax:-TheSalesTaxisthemostimportantsourceofrevenueofthestategovernments;everystatehastheirrespective

20、SalesTaxAct.Thetaxratesarealsodifferentforrespectivestates.TaximposedbyCentralgovernmentonsaleofgoodsiscalledasSalestaxsameiscalledasValueaddedtaxbystategovernment.VATisadditionaltothepriceofgoodsandpassedontousasbuyer(enduser).Around220+ItemsarecoveredwithVAT.VATratesvarybasedonnatureofitemandstate

21、.GovernmentisplanningtomergeservicetaxandsalestaxinformofGoodsservicetax(GST).AlsoRead:-Downloadnew15G/15HForms(9) Customduty&Octroi(OnGoods):-CustomDutyisatypeofindirecttaxchargedongoodsimportedintoIndia.Onehastopaythisduty,ongoodsthatareimportedfromaforeigncountryintoIndia.Thisdutyisoftenpayab

22、leattheportofentry(liketheairport).Thisdutyratevariesbasedonnatureofitems.Octroiistaxapplicableongoodsenteringintomunicipalityoranyotherjurisdictionforuse,consumptionorsale.InsimpletermsonecancallitasEntryTax.(10) ExciseDuty:-Anexciseorexcisedutyisatypeoftaxchargedongoodsproducedwithinthecountry.Thi

23、sisoppositetocustomdutywhichischargedonbringinggoodsfromoutsideofcountry.AnothernameofthistaxisCENVAT(CentralValueAddedTax).Ifyouareproducer/manufacturerofgoodsoryouhirelabortomanufacturegoodsyouareliabletopayexciseduty.(11) AntiDumpingDuty:-Dumpingissaidtooccurwhenthegoodsareexportedbyacountrytoano

24、thercountryatapricelowerthanitsnormalvalue.Thisisanunfairtradepracticewhichcanhaveadistortiveeffectoninternationaltrade.InordertorectifythissituationCentralGovt.imposesanantidumpingdutynotexceedingthemarginofdumpinginrelationtosuchgoods.OtherTaxes:-(12) ProfessionalTax:-Ifyouareearningprofessionalyo

25、uneedtopayprofessionaltax.ProfessionaltaxisimposedbyrespectiveMunicipalCorporations.MostoftheStatesinIndiachargethistax.ThistaxispaidbyeveryemployeeworkinginPrivateorganizations.ThetaxisdeductedbytheEmployereverymonthandremittedtotheMunicipalCorporationanditismandatorylikeincometax.Therateonwhichthi

26、staxisapplicableisnotsameinallstates.(13) DividenddistributionTax:-DividenddistributiontaxisthetaximposedbytheIndianGovernmentoncompaniesaccordingtothedividendpaidtoacompany'sinvestors.Divideamounttoinvestoristaxfree.Atpresentdividenddistributiontaxis15%.|(14) MunicipalTax:-MunicipalCorporationi

27、neverycityimposedtaxintermsofpropertytax.Ownerofeverypropertyhastopaythistax.Thistaxratevariesineverycity.(15) EntertainmentTax:-TaxisalsoapplicableonEntertainment;thistaxisimposedbystategovernmentoneveryfinancialtransactionthatisrelatedtoentertainmentsuchasmovietickets,majorcommercialshowsexhibitio

28、n,broadcastingservice,DTHserviceandcableservice.(16) StampDuty,RegistrationFees,TransferTax:-Ifyoudecidetopurchasepropertythaninadditiontocostpaidtoseller.Youmustconsideradditionalcosttotransferthatpropertyonyourname.Thatcostincluderegistrationfees,stampdutyandtransfertax.Thisisrequiredforpreparingl

29、egaldocumentofproperty.Insimplesensethistaxisimposedonthehandingoverofthetitleofpropertyownershipbyonepersontoanother.Itincorporatesalegaltransactionfee&stampduty.Thisamountvariesfrompropertytopropertybasedoncost.(17) EducationCess,Surcharge:-EducationcessisdeductedandusedforEducationofpoorpeopl

30、einINDIA.AlltaxesinIndiaaresubjecttoaneducationcess,whichis3%ofthetotaltaxpayable.TheeducationcessismainlyapplicableonIncometax,excisedutyandservicetax.Surchargeisanextrataxorfeesthataddedtoyourexistingtaxcalculation.Thistaxisappliedontaxamount.(18) GiftTax:-Ifyoureceivegiftfromsomeoneitisclubbedwit

31、hyourincomeandyouneedtopaytaxonit.Thistaxiscalledasgifttax.Thistaxisapplicableifgiftamountorvalueismorethan50000Rs/-inayear.(19) WealthTax:-Wealthtaxisadirecttax,whichischargedonthenetwealthoftheassessee.WealthtaxischargeableinrespectofNetwealthcorrespondingtoValuationdate.Netwealthmeansallassetsles

32、sloanstakentoacquirethoseassets.Wealthtaxis1%onnetwealthexceeding30Lakhs(Rs3,000,000).Soifyouhavemoremoney,assetsyouareliabletopaytax.Note:-Wealthtaxisabolishedbygovernmentinbudget2015.Nowonwardssurchargeof12%isapplicableonindividualearning1croreandabove.(20) TollTax:-Atsomeofplacesyouneedtopaytaxinordertouseinfrastructure(road,bridgeetc.)buildfromyourmoneygiventogovernmentasTax.Thistaxiscalledastolltax.Thistaxamountisverysmallamountbut,tobepaidformaintenanceworkandgoodupkeeping.Sointotalyoupay20differenttaxesindirectorindirectway.Atth