financial services

Understanding Flat Tax

Tax systems that are followed worldwide majorly fall into three categories – Progressive tax Regressive tax Flat tax A progressive tax is one which charges the rich more than the poor. Here, the tax-rates increase as income tax brackets go higher, thus financially impacting higher-income individuals and businesses more and low-income earners less. Regressive taxes… Continue reading Understanding Flat Tax

financial services

How to pay GST on exchanging Currency

There’s more to converting currencies than just knowing the foreign exchange rate. We are talking about taxes.In this article, you will learn how to calculate service tax (now GST – goods and services tax) and taxable value when interchanging currencies in India. Why Service Tax? We know that service tax is levied on any service provided or to… Continue reading How to pay GST on exchanging Currency