In a major crackdown on domestic shell companies, the government on Friday decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes.
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.
Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
Frankly, there is no reason not to open a PPF account and start investing in PPF
Debashis Basu lists various reasons why laundering through the stock market thrives.
The 8.1 per cent interest rate was recommended by the Central Board of Trustees after its meeting in Guwahati under the chairmanship of Union Labour and Employment Minister Bhupendra Yadav, a labour ministry press statement said.
'If I close my housing loan, are there any investment avenues (the investment should provide liquidity) to save tax?'
Missing the deadline for filing Income Tax returns can lead to consequences.
Domestic rating agency Icra on Monday upped its banking sector outlook to 'positive' on healthy asset growth, improving asset quality and stronger capital buffers. The agency expects asset quality to improve to a decadal best of 4 per cent from a gross non-performing assets (NPAs) perspective by the end of FY24. The banking system's credit growth will slow down to 11-11.6 per cent in FY24, after a very healthy growth of 15.2-16.1 per cent expected in FY23, the rating agency said.
Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
Be mindful that each instrument is governed by a different set of gifting rules and is also taxed differently.
You can build your own retirement savings portfolio by investing in equity, hybrid and/or debt funds. Alternatively, you can also invest in retirement funds which provide asset allocation solutions for different investment needs and risk appetites, says Dwaipayan Bose
Those spending over Rs 2 lakh on foreign travel, incurring more than Rs 1 lakh electricity bills, or depositing over Rs 1 crore in current account will have to mandatorily file ITR even if their total income is below the taxable limit. The last date for filing has been extended to Nov 30 from Jul 31.
Gold deposited by households to gold savings accounts will be used for auctioning, replenishment of RBI's gold reserves.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
'Many non-resident taxpayers faced issues in filing Form 10F since the portal didn't allow those who didn't have PAN to file the form.'
Budget might turn out to be neutral for the sector.
While using the family to save tax is legal and smart, ensure you use the ones where clubbing income laws isn't a concern, advises Bindisha Sarang.
the three investors that have submitted their final bids are not commercial banks. Among the three, one is a non-banking financial company. Another distinctive feature of the revival is that PMC may lose its cooperative bank characteristic after its reconstruction.
Conversion into jewellery during redemption would entail 15-20% wastage and making charges, rendering the scheme inefficient
Saving is not the same as investing as many people wrongly assume. But what's the difference between the two? How does each benefit you. Larissa Fernand has the answers
Encouraging domestic financial savings through focused measures would help mobilise long term resources for funding infrastructure and economic development.
Arun Jaitley had proposed in the Budget to double the rate of capital gains tax on debt MFs to 20%.
Whether it was the MGNREGS or the NFSA or the Aadhaar-based DBT scheme for cash transfer, the Modi government has built on the basic architecture created by the Singh government. Policy makers in the Modi government, instead of discarding them as products of the previous political regime, worked on them, expanded their scope and reach, and used new tools to improve their performance, explains A K Bhattacharya.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
The stock of State Bank of India (SBI) may re-rate soon, believe analysts, if the lender manages to safeguard its net interest margin (NIM) going ahead. This, along with controlled credit costs, should aid the outlook of the stock which has been underperforming the markets for some time now. "We believe delivery of growth on guided lines, sustenance of NIMs near current levels, and controlled asset quality parameters aiding controlled credit costs should lead to strong profitability and drive re-rating of the stock," said analysts at JM Financial.
Both NRIs and those who make payouts on sale of property need to understand the TDS provisions that are applicable or risk punishment, warns Sanjay Kumar Singh.
Did you know that an individual can, in addition to the tax benefits she/he is entitled to, also leverage the benefits available to family members to reduce this liability?
Kavitha has asserted that she had done nothing wrong and alleged that the BJP-led Centre was "using" the ED as the saffron party could not gain a "backdoor entry" in Telangana.
The three year lock-in period enables ELSS fund managers to invest in high conviction stocks for a long period of time because of relatively less redemption pressure, says Dwaipayan Bose
2,138 firms deposited unaccounted Rs 5,000 cr in zero-balance accounts during the note ban
Changes in threshold not to have a significant revenue impact, say officials
There is no constitutional or statutory prohibition on receipt of anonymous donations by political parties.
The MLC daughter of Telangana Chief Minister K Chandrashekar Rao reached the ED office in central Delhi from the Tughlaq Road official residence of her father around 11.30 am and left shortly after 9.40 pm.
The 30-share Sensex surged 299 points to close at 28,736 and the 50-share Nifty gained 90 points to end at 8,723.
What are FMPs and should you invest in them?
Depending on your liquidity requirement, invest in the right debt instruments.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Sebi on Thursday barred 45 entities, including actor Arshad Warsi, his wife Maria Goretti and others, from the securities market in cases related to manipulating the share prices of two companies through uploading misleading videos on YouTube channels. The cases pertains to uploading misleading videos on YouTube channels and recommending investors to buy the shares of Sadhna Broadcast Ltd and Sharpline Broadcast Ltd. Apart from the couple, some of the promoters of Sadhna Broadcast have been restrained from the securities market for their involvement.
