Is your company using your cost to company, CTC, to make you pay the fringe benefit tax, FBT, on your stock options, ESOPs?
Tata Motors on Friday reported a 62.2 per cent decline in consolidated net profit to Rs 4,003 crore in the June quarter, impacted by volume decline across segments, drop in JLR profits due to US tariffs and high base effect due to gain from sale of discontinued operations. The auto major had posted a consolidated net profit of Rs 10,587 crore in the April-June quarter of the previous fiscal, Tata Motors Ltd (TML) said in a regulatory filing.
Few finance ministers announce any taxation measure that could upset the stock market. Ms Sitharaman decided to take that risk, observes A K Bhattacharya.
The amendment would help check round-tripping of funds and boost the domestic consumption, Jaitley added
'Going forward, the encouragement would be to move to the new tax regime.'
A senior income tax department official in the know of the discussions to have taken place in the finance ministry said the ministry was looking into the issue as a possible option.
The government is mulling changes in the income tax laws to bring cryptocurrencies under the tax net, with some changes that could form part of the Budget next year, a top official said. Revenue secretary Tarun Bajaj said that in terms of income tax, some people are already paying capital gains tax on the income from cryptocurrency, and in respect of Goods and Services Tax (GST) also the law is "very clear" that the rate would be applicable as those in case of other services.
Amidst panic in the stock market over double tax avoidance treaty with Mauritius, government on Monday said India "cannot impose arbitrarily" capital gains tax on investment routed through the island nation.
With barely a few days left before the current financial year (2007-08) comes to an end, it's time to pay taxes and file returns.
RediffGURU Mihir Tanna broadly lists the ITRs to be filled by individuals having income from salary, house property, capital gain, business and other sources.
The regulator has sought an increase in the investment limit for tax-saving equity mutual fund schemes to Rs 200,000 from the current Rs 150,000.
'2025 is the year to build a portfolio for the future. Focus this year should be on valuations and visible growth.'
Sources said I-T deparment has sent a notice to Vodafone for not paying capital gains tax, arguing that the company should have deducted tax at source while making payment to Hong Kong-based Hutchison Telecom International Ltd.
The Income-Tax (I-T) Department nowadays provides pre-filled forms to make the filing of income-tax return (ITR) easier. Nonetheless, you must have a number of documents handy at the time of filing return so that you can cross-check the data in the pre-filled form. "Filing ITR doesn't require you to upload any document. But in case an assessing officer makes an inquiry, you will need to present documents and certificates as proof," says Deepak Jain, chief executive, TaxManager.in.
Investors in SIPs should be especially careful because the taxation is done according to the first-in-first-out basis
Ask rediffGURU and PF expert Nitin Narkhede your mutual fund and personal finance-related questions.
If you already hold significant amounts of equity in your portfolio, avoid MAAFs with over 60 per cent equity. But if you lack equity exposure, an aggressive MAAF may be appropriate.
'Expect India to keep doing well irrespective of geopolitics.'
rediffGURU Samkit Maniar answers readers' personal income tax queries.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
The government on Friday extended he deadlines for various income tax compliances and said the amount paid by an employer to employees for Covid-19 treatment would be tax exempt.
Apprehending a sharp decline in business, mutual funds including UTI AMC have asked Finance Minister P Chidambaram to exempt all debt instruments from the proposed 0.15 per cent transaction tax.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
It is important to have the necessary documents on hand to verify the information in the form.
The revenue department had sent notices to FIIs.
Ramalingam Kalirajan explains the pros and cons of both investment types.
The board of GSM service provider Vodafone-Essar is expected to discuss the income tax issue at its meeting to be held on Friday.
Following alterations in the tax structure, mutual fund (MF) schemes that invest in overseas securities have experienced a sharp decline in inflows. In the first five months of 2023-24 (FY24), international MF schemes have received an average monthly gross inflow of only Rs 270 crore, compared to Rs 490 crore during the same period in the previous year. This decline persists despite nearly all fund houses opening subscriptions for such schemes, with higher redemptions creating headroom for fresh investments.
The fear of losing purchasing power due to inflation and low-interest rates has led many to explore safe alternatives to fixed deposits with high returns
Invest in bonds and another property to save tax on capital gains.
The finance minister clarified that indexation benefits offered until April 1, 2001 would be protected. This means older properties, including legacy assets, would benefit.
Saurav Ghosh's step-by-step guide will help you understand what bonds are, how they help investors make money, how much money they make and which bonds to invest in.
The JWG has had eight rounds of meeting since it was set up in 2006 but no mutually agreeable solution has been arrived at.
Finance ministry officials said they were scrutinising many deals, but the actual tax liability would depend on many factors, including the kind of payment (royalty, interest, stake sale) and the Double Tax Avoidance Agreement with the country where the foreign company was based.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Union Finance Minister Nirmala Sitharaman, along with her team of bureaucrats, delved into the fine print of the 2024-25 Budget documents in a press conference, detailing the government's road map on bringing down the debt-to-GDP ratio and bold tax measures.
A retirement fund can be helpful for all age groups, but ideally one should start investing early to beat market swings and gain from compounding.
Apart from the emotional value attached to buying gold, the yellow metal offers protection against inflation, interest rate spikes, currency and geopolitical risks, says Anamika Pareek.
Tax expert Mahesh Padmanabhan on how employees can use fringe benefits in their salary to help save tax.
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