'The only good thing is people will not be required to maintain their medical bills and invest time in that.'
As per reports, the ATO raised the tax bill after Pankaj Oswal transferred his shares in Burrup Fertiliser, a company started by him, to his wife in 2007.
Among Sensex firms, Maruti zoomed the most by 8.94 per cent. Bajaj Finance rallied over 5 per cent, UltraTech Cement by 3.71 per cent, and Bajaj Finserv by 3.7 per cent. Mahindra & Mahindra, Hindustan Unilever and Trent were also among the gainers. However, ITC was the biggest loser, dropping by 1.26 per cent. Eternal, Tech Mahindra and Larsen & Toubro also declined.
Retrospective claims may not stand the test in international courts.
Policymakers are examining the possibility of increasing the tax-free slab to Rs 5 lakh in the two-year-old alternative personal income tax regime to make it attractive, a government official said. At present, taxpayers don't pay income tax if their taxable income is Rs 2.5 lakh and below. Increasing the threshold will reduce the tax outgo for assessees, thereby leaving more money with them to invest, the official said.
Many are attracted by the potential for large gains, but don't necessarily seem to understand that a single trade gone wrong can wipe out their accumulated profits.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'Investors with a long-term investment horizon and the risk appetite for fluctuations in property values may find SM Reits a viable option.'
Despite recent underperformance, MNC funds have delivered over longer time frames.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Cairn Energy of UK is seeking compensation from the Government of India.
Here are some calculations where we use the basic tax rate on these investments excluding education cess for better understanding
Several of the mutual fund schemes have plans like dividend, growth and bonus.
Most of these alleged tax evaders hail from Kolkata, Mumbai, Ahmedabad, Surat, and Delhi.
Long-term tax on capital gains arising from selling a house can be invested in another property under Section 54.
Foreign investors continue to pull back money from the Indian equity market, withdrawing Rs 24,753 crore (about $2.8 billion) in the first week of March amid escalating global trade tensions and lacklustre corporate earnings.
A landmark tax case between Vodafone of the UK and the Indian government that is set to determine the future climate for mergers and acquisitions in the country began on Monday.
It is welcome that the government tried to make its intentions clear last week - especially as risk concerns return to global markets.
Tax department sends notices saying they are liable to pay MAT.
The pre-Budget proposals sent to the finance ministry aim to bring uniformity in tax treatment for investments in different financial sectors, mitigate hardship to retail taxpayers, and encourage participation in mutual funds.
'TMFs trump FMPs and FDs when it comes to investing in a high-duration product.'
I-T department is investigating 20 listed companies suspected to have falsely claimed long-term capital gains tax exemption
I-T department has fixed Rs 12,000-crore tax claim on the 2007 deal in which Vodafone bought Hutch's 67 per cent stake in Hutchison Essar for $11.2 billion.
Tax Guru Anil Rego answers your personal income tax queries.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
From the 30-share blue-chip pack, ITC Hotels, IndusInd Bank, Mahindra & Mahindra, Sun Pharma, UltraTech Cement and NTPC were among the biggest gainers. Titan, Kotak Mahindra Bank, Nestle, Asian Paints, HCL Tech and ICICI Bank were among the laggards.
Among the 11 equity sub-categories, thematic funds received the highest net inflows at Rs 9,017 crore, followed by smallcap funds at Rs 5,721 crore and flexicap funds at Rs 5,698 crore.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
The Left proposed introduction of inheritance tax and restoration of long term capital gains tax to mop up additional resources for funding mega social sector schemes
Mauritius and Singapore account for the bulk of the $278 billion in foreign equity investments since 2000
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The Union government's offer of settling the retrospective taxation case with Cairn Energy may hinge on Vedanta withdrawing the ongoing arbitration from the Singapore Tribunal on the same issue. The government has offered to refund Cairn Energy Rs 7,900 crore that it had collected under the retrospective tax demand on fulfilment of certain conditions, including withdrawal of pending litigation and furnishing of an undertaking to the effect that no claim for cost, damages, interest, etc., would be filed. This condition is also part of the Taxation Laws (Amendment) Bill, 2021, passed by Parliament recently.
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