Vikas Vasal

It has been two years since the introduction of EL 2.0, however, stakeholders are still grappling with many unresolved issues that require clarity.

Digital Tax (Equalisation Levy) - Will Budget 2022 iron out the creases?

by Vikas Vasal |Jan 30, 2022

Since EL 2.0 is an interim measure, it should remain so without adding to the disputes and litigation, which could be easily avoided through appropriate clarifications, and this year's Budget is a goo...

Over the years the TDS regime has become quite complicated. Today the Act contains over three dozen substantive provisions relating to TDS.

Budget 2022: Rationalise TDS regime to boost ease of doing business

by Vikas Vasal |Jan 28, 2022

The number of rates in the TDS framework could be reduced to one or two rates. Further, the thresholds should be increased to keep small transactions outside the compliance burden.

Personal Income-tax constitutes about 44% of the direct taxes collection in India and about 22% of the total tax (direct tax, GST etc.) collections for the government.

Union Budget 2022: Wishlist of individual taxpayers

by Vikas Vasal |Jan 19, 2022

While the ongoing pandemic has put pressure on the government, these measures may be considered on the personal tax front to provide some relief to the individual taxpayers.

The benefits should also be extended to ESOPs offered by all companies and not limited to eligible start-ups.

Union Budget 2022: ESOP taxation; on Real(ised) income, not on No(tional) income

by Vikas Vasal |Jan 19, 2022

In order to address the cashflow issue faced by the employees, it may be better to shift the tax incidence to the time of sale only instead of two stages as at present - perquisite taxation and capita...