Here are some of the important items of income, which are fully exempt from income tax and which can be utilised by a resident individual Indian assessee for the purpose of tax planning.
A N Shanbhag, the highly respected investment guru, and his son Sandeep Shanbhag, answer your questions on NRI investment.
Exports of textiles and jewellery from India may register negative growth this year thanks to the appreciation of Rupee against the US dollar.
This segment had an estimated market size of Rs 7,080 crore (Rs 70.80 billion) at the end of 2006-07 and is expected to grow at an average rate of 30 per cent in 2007-08. Among the various businesses, online travel segment leads the pack. It is expected to grow at the rate of 30 per cent and reach Rs 7,000 crore (Rs 70 billion) by the end of 2007-08.
There will be zero Income Tax on income of Rs. 11.20 lakh (Rs 1.12 million). Impossible? No, it isn't.
Transfer pricing tax orders of Income Tax against Shell and Vodafone pertain to alleged undervaluation of shares issued by their domestic subsidiaries to the parent companies abroad.
The government earned Rs 7.42 lakh crore as direct taxes in 2015-16, a 66 per cent increase from Rs 4.45 lakh crore in 2010-11
Bharti Airtel and Vodafone Idea have communicated to the telecom department that they will not pay AGR dues of Rs 88,624 crore, the deadline for which ended on Thursday, and will wait for the outcome of modification petition listed for hearing before the Supreme Court next week, according to official sources. Reliance Jio on Thursday paid Rs 195 crore to the telecom department to clear all adjusted gross revenue dues accounted till January 31, 2020, according to an official source.
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