UPSC Preparation Strategy

General Anti Avoidance Rules (GAAR) are regulatory measures designed by governments to combat tax avoidance strategies employed by individuals and entities

The Rationalization of Double Taxation Avoidance Agreement (DTAA) stands as a pivotal framework in international taxation, aiming to alleviate the burdens

A Double Taxation Avoidance Agreement (DTAA) is a bilateral agreement between two countries aimed at eliminating the possibility of double taxation on the same income or financial transaction

Base Erosion and Profit Shifting (BEPS) refers to tax planning strategies employed by multinational corporations (MNCs) to exploit gaps in the tax rules of certain countries

Tax havens are countries or specific regions within countries where tax rates, especially on income or capital gains, are extremely low or non-existent.

Tax expenditure refers to the revenue forgone by the government due to exemptions and concessions provided in both direct and indirect taxes.

The inverted duty structure refers to a situation where the import duty on finished goods is lower than the duty on raw materials or intermediate goods.

Capital Gains Tax is a tax imposed on the profits (gains) derived from the sale of assets such as land, shares, etc

The Direct Taxes Code (DTC) represents a significant overhaul of India’s tax system, aiming to simplify and streamline the country’s direct tax regime

Tax amnesty schemes in India, also known as voluntary disclosure or amnesty schemes, have been periodically introduced by the government