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Ajay Rotti Profile picture
Ajay Rotti
@ajayrotti
Indian #Taxation #Bengaluru #Cars #F1 #Tifosi #Jeep #007 #CalvinandHobbes
Mar 21 • 7 tweets • 4 min read
Some details the Assessment year 1994-95 proceedings of #Congress! It is not reopened today!! Link of court judgement provided.

Facts as recorded in the Hon Delhi High Court Judgement of 2016. The whole income-tax matter for AY 1994-95 started in January 1996 not today!!!!

Congress had not filed its return.

1/NImage They were asked to file the return. Even after filing the return only after a notice was issued... there was noncompliance. See the notings of the assessing officer as noted by the Hon Delhi HC. None of these are now.

2/N Image
Feb 5 • 11 tweets • 3 min read
Basics of tax in our federal structure - a #TaxThread after a while!

Only given the talk about taxes passed on to the States by the Central.

Both Central Government and State Government levy and collect taxes in India.

1/N Direct tax (Income tax, corporate tax) are levied and collected ONLY by the Central Govt. We dont have State income-tax like the US does.

VAT/Sales tax was collected by both before GST came into force. Excise Duty, Customs Duty, etc was collected only by Central Govt.

2/N