Swiss brokerage UBS joins European banking peer HSBC in shutting down its offshore derivative business
The PMGKY will not allow declarants to use claims made for refunds for advance taxes paid, tax deducted at source and tax collected under the scheme.
CBDT circular issued last month had raised multiple taxation concerns.
Import growth moderated to a four-month low, owing to sharp decline in that of gold.
Whether or not such an overhaul will be carried out depends on the government's comfort level.
Downloading songs, movies, books? You may have to pay tax on it.
Exemption limits, standard deduction on radar.
An expected withdrawal of FIIs from the market likely to weaken the rupee against the dollar.
'Investigation directorates have intensified actions in detecting serious irregularities.' 'They are seriously handicapped because of non-availability of manpower.'
Although the markets could see a knee-jerk reaction, they rule out a sharp fall.
The I-T department will rely on data analytical tools and run models to separate black money holders and genuine taxpayers based on the large data base being shared by banks.
Adjusted for inflation, the earlier scheme would have collected Rs 25,000 crore.
While analysts predicted the Sensex to cross 30,000 in 2016, the index currently stands 12% lower at 26,400.
Consensus seems a problem before the current session of Parliament ends.
It was found the declarants were persons of suspicious nature and very small means, and the declarations could have been misused.
Measures may include tax slab and rate revisions for individuals, companies.
The onus to explain that the gold jewellery was inherited or bought from known sources of income would be on the owner.
While the government has the option of ensuring the passage of these Bills as money Bills, there are voices within the government advising discretion on the GST roll-out by April 1.
Growth in the third quarter (October-December) is expected to be the weakest in years, with spending hit due to unavailability of enough replacement currency.
Limited IT staff may compel them to focus on big fish than small depositors.
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