The government on Monday clarified that transactions involving royalty/ technical services fee would be taxable under income-tax and not be liable for equalisation levy that is paid by foreign companies for conducting business with Indian parties, while explaining what would construe online sale of goods or services.
'It is less dependent on imported capital.'
EPF allows partial withdrawal to meet situations like house construction, medical emergency, and so on.
Goods and Services Tax would usher in an unified indirect tax regime.
The Centre's retreat from the farm laws is likely to have a significant bearing on the fate of laws that the Centre has made, for instance, in labour and electricity, predicts A K Bhattacharya.
Supposed to be one of the top-paid stars in Tamil cinema, actor Vijay is known for his big-ticket hits and commands good box-office opening.
CBDT circular issued last month had raised multiple taxation concerns.
Investors must, however, be prepared for volatility in ELSS, cautions Sanjay Kumar Singh.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
While the American Club Cool Fresh Taste saw the minimum hike of 10 per cent, from Rs 200 to Rs 220 for a pack of 20 cigarettes, the price of Navy Cut Filter rose by about 16 per cent, at Rs 80 for a pack of 10 sticks. Flake Filter has become costlier by 14 per cent at Rs 80, while prices of Flake Special Filter, Flake Blue Special Filter and Wave Cool Mint rose by 20 per cent.
Finance Minister Nirmala Sitharaman while unveiling the Union Budget said the proposal would make India more attractive market for investment.
The e-commerce sector is also fraught with redundant taxation laws that need immediate overhaul
Banks and friendly neighbourhood jewellers can serve as good channels to provide liquidity for gold deposits with built-in incentives for them, suggests Harsh Roongta.
Expect a more modest out-turn of around 5 per cent (if not less) because of the longer-term scarring effects of the Covid shock, the sharply slowing growth in the pre-Covid years and some scepticism about the growth-efficacy of some of recent official policy initiatives, explains Shankar Acharya, former chief economic advisor to the government.
Signing of the pact will hopefully end stock market uncertainty that came with the mention of the M-name
'Extensive thought has been put in, and we have pondered over each and every suggestions and demands received from our members.'
The Central Board of Secondary Education (CBSE) announced on Tuesday the schedule for classes 10 and 12 board exams which will begin on May 4.
With the Budget-making exercise in full swing, RBI Governor Shaktikanta Das on Friday said Budget 2021-22 is expected to be prudent and growth oriented. Das before donning the hat of RBI Governor was a career bureaucrat and was directly involved in crafting of about 10 Budgets for the country including one in the aftermath of global financial meltdown in different capacities at the finance ministry. In view of unprecedented pandemic and its impact on the economy, he said the government has maintained fiscal prudence in the response to deal with the crisis.
With supply of mobile chipsets running dry, manufacturers here are left with no option but to hike prices once again, making it the fourth round of increase in 2020.
The minister, while replying to the debate on Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020, was responding to various issues raised by the Congress and other Opposition parties about the PM CARES Fund.
Finance Minister Nirmala Sitharaman on Tuesday said there were visible signs of revival in the economy but the GDP growth may be in the negative zone or near zero in the current fiscal.
Employee Stock Options (ESOPs) is a significant employer-granted benefit, subject to the perquisite-based taxation system. Employee benefits used to be subject to Fringe Benefit Tax (FBT) earlier. But, now that FBT no longer exists, the earlier perquisite-based taxation has been brought in. So, in a way, this is not a new move but a reversion to the earlier system of taxation.
The November 3 presidential poll is an "election of a lifetime" for it being held amid a pandemic and seeing the "highest participation" of India-Americans, according to eminent community leader Swadesh Chatterjee.
Finance Minister Arun Jaitley outlined the roadmap of the BJP-led Government for the coming months, saying the Goods and Services Tax (GST) will be a "top priority".
However, where the directors' remuneration is in the nature of professional fees and not salary, GST will be levied on a reverse charge basis.
Says the TRC proposal was clumsily worded.
Being part of category-I implies lower compliance burden, simplified know-your-customer norms and documentation requirements, and fewer investment restrictions.
Budget planners for now have been told to prepare with the assumption that GST will apply from April 1.
Petrol price can go down to Rs 75 a litre across the country if brought under the ambit of the Goods and Services Tax (GST), but there is a lack of political will, which is keeping Indian oil product prices at one of the highest in the world, economists at SBI said on Thursday.
Move could be a major relief to Vodafone.
The criteria for allowing companies to avail of this provision will include profitability, networth, paid-up capital, and turnover.
Mukherjee, who is in Port Louis on a three-day visit, said the Double Taxation Avoidance Convention cannot be seen in isolation, separate from the many strands that weave the tapestry of India-Mauritius relationship and efforts, and it should remain focused on realisation of the full potential of the bilateral ties.
In a most perverse example of tax bullying, someone I know has got by three such notices reopening his assessment minutes before the midnight deadline of June 30, reveals Debashis Basu.
The 30-share Sensex dropped 170 points to end at 27,226 and the 50-share Nifty lost 46 points to close at 8,240.
'Many of the challenges of investing in commercial real estate get taken care of when an investor takes the Reit route,' points out Suraj Nangia.
A phased roll-out of prohibition will hit revenues of companies, which get 5% of their volume sales from the state
There is no proposal to modify income tax returns forms, finance ministry sources clarified when asked to comment on news reports that the purported statement of financial transactions expansion would result in the filing of high-value financial transactions in ITR by the taxpayers themselves.
The Goods and Services Tax (GST) Council, chaired by Union Finance Minister Nirmala Sitharaman, will likely consider on Saturday a GST rate cut for Covid-19 relief essentials and drugs for treating the black fungus disease and might leave the vaccines untouched. The meeting is being held following a report submitted by a Group of Ministers (GoM) to the GST Council on Monday. The GoM, set up by the Council on May 28, was mandated to look at tax exemption and concessions on various Covid items including vaccines, drugs, and equipment.
Given the many policy areas where the Centre and the states have not been seeing eye to eye in the last few years, it is time the Modi government convenes a meeting of the Inter-State Council, recommends A K Bhattacharya.
