top of page
TAXATION PRACTICE
TAXES: BACKBONE OF INDIA'S WELFARE STATE
Part IV of India's Constitution establishes the nation as a welfare state, ensuring citizens' social and economic well-being through equal opportunities and security. To achieve this, the government levies taxes, funding public safety, economic projects, and improved living standards. The Constitution divides taxing powers between the Centre and States: local taxes go to States, while broader, uniform taxes are managed by the Centre, supporting India's commitment to welfare and development.
TYPES OF TAXES
Taxes are essential for the functioning of any government, providing the necessary funds to deliver public services, maintain infrastructure, and ensure national security. There are several types of taxes, broadly categorized into direct and indirect taxes.
Direct Taxes
Paid directly by individuals or entities on income or wealth (e.g., Income Tax, Property Tax) and regulated by the Central Board of Direct Taxes (CBDT).
Indirect Taxes
Levied on goods and services, paid by consumers through intermediaries (e.g., GST, VAT, Sales Tax) and transferred to the government.
Khurana and Khurana offers comprehensive and qualitative services across both indirect and direct taxes, covering advisory and litigation work. Our tax team comprises professionals with diverse expertise, including legal professionals, Chartered Accountants, and Company Secretaries. The firm’s deep understanding of tax laws and regulations enables us to provide strategic tax planning, compliance solutions, and effective representation in disputes. Whether addressing complex tax issues or providing routine compliance support, Khurana and Khurana is dedicated to delivering tailored solutions that meet the unique needs of each client.
bottom of page