Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
Employees should review the accuracy and completeness of the information provided in Form 16. They should confirm that all the tax deducted has been credited correctly.
The Enforcement Directorate on Friday launched fresh raids in connection with its money laundering investigation into alleged irregularities in the now-scrapped Delhi excise policy, official sources said.
'The money is readily available to the depositors.'
If the nominations are not in place, the heirs need to go through a lengthy process to get access to the money cautions Bindisha Sarang.
The court directed the NHSRCL to file a correction statement within a month to the effect that the TDS deducted by it while paying the compensation amount to Patil was not liable to be deducted.
Deposit certificates will also be exempt from capital gains tax.
If you pledge market-linked instruments and their value plummets, you will have to provide additional collateral, points out Sanjay Kumar Singh.
Demonetisation is the biggest reason for the rise in preference for small savings.
The Enforcement Directorate (ED) may initiate a money laundering investigation over the framing and execution of the Aam Aadmi Party government's excise policy, official sources said on Friday after the Central Bureau of Investigation raided Delhi Deputy Chief Minister Manish Sisodia and others in the matter.
The ministry also decided to dispense with the requirement of the Integrity Pact Bank Guarantee to reduce the financial burden on the Indian defence industry, a move aimed at promoting domestic manufacturing.
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.
Initially, she was summoned by the agency on Monday but it was deferred by a day.
The approved proposals included "procurement of night sight (image intensifier), light vehicles GS 4X4, air defence fire control radar (light) and GSAT-7B satellite," it mentioned.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Priya Nair finds out how investors of mutual funds, shares, unclaimed bank deposits, insurance policies can redeem long-forgotten investments.
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
Post office savings of 1, 2 and 3 year term deposits and 5-year recurring deposit currently fetch 8.4 per cent interest per annum.
The ED case of money laundering in the excise policy stems from a CBI FIR in which Delhi Deputy Chief Minister Manish Sisodia and some bureaucrats have been named as accused. The excise policy has been rolled back now.
Investors need to evaluate how they stack up against other high credit quality fixed-income options before putting money in them.
The 66-year-old leader's income for the year 2019-20 was Rs 10,34,370.
'Two esteemed foreign investors with huge funds are coming with us in our real estate and city development businesses.'
The ongoing Puri heritage corridor construction work might have caused damage to the 800-year-old Jagannath temple there and the state government project was being carried out without valid permission from the competent authorities, the Archaeological Survey of India on Monday informed the Orissa high court.
When looking for alternatives, consider several parameters -- your investment horizon and liquidity requirement, post-tax returns, and risk.
In a move that will hit the common man, the government on Friday slashed interest rates payable on small savings including PPF and Kisan Vikas Patra (KVP) in a bid to align them closer to market rates.
The Union Road Transport and Highways Ministry on Wednesday said the states and union territories (UTs) will provide up to 25 per cent rebate on road tax for vehicles that are purchased after scrapping old vehicles under the new National Automobile Scrappage Policy. The ministry in a press note said that in the vehicle scrapping policy, it is proposed to have a system of incentives to nudge vehicle owners to discard old and polluting vehicles. "As an incentive for scrapping, concession is stipulated in the motor vehicle tax for a vehicle registered against submission of Certificate of Deposit, which is issued by a Registered Vehicle Scrapping Facility.
Post office savings deposit, recurring deposit accounts and the senior citizen savings scheme account have shown the highest growth in the current financial year.
The popular Five-Year National Savings Certificates will earn an interest rate of 8.1 per cent from April 1 as against 8.5 per cent, at present.
Police also said that people will have to adhere to all Covid-protocols, such as wearing face masks and maintaining social distancing, at the programme on Rajpath on January 26.
After two years of a record low interest-rate regime, Indian corporate houses are experiencing a sharp and abrupt increase in funding costs. With the Reserve Bank of India last month making an unequivocal turn towards policy tightening amid high inflation, firms looking to tap the capital markets for funds are ending up shelling out more. The yield on the benchmark triple-A-rated corporate bonds maturing in three years has climbed 98 basis points (bps) since the policy rate hike in May. It was last at 7.47 per cent, Bloomberg data showed.
MMFs are a good option for the current environment, observes Sarbajeet K Sen.
The value of unclaimed securities and other assets was nearly Rs 20,000 crore in March 2020.
These are the four primary issues that have soured the relationship between SBI-led lenders and JKC and delayed the resumption of commercial flights by Jet Airways, once India's largest private airline, which went bankrupt in 2019. Over the past three years, the airline went through an insolvency process under which JKC's resolution plan was approved by a committee of creditors (lenders) and the National Company Law Tribunal (NCLT) in October 2020 and June 2021, respectively. But this didn't mean an end to the problems.
For India to monetise gold, it is not the institutional depositor that policymakers must target but the average retail depositor.
The Reserve Bank of India's retail direct scheme is off to a good start but the central bank itself sees it as an additional avenue and not an alternative to the existing one. Still, a reasonable expectation is to have at least 100,000 investors within a month of it being operational, and that could be well under way, if the latest trend is to sustain. The registration in the retail direct platform has crossed 35,000.
Avoid investing in a new ELSS scheme each year. Stick to one well-chosen scheme to avoid clutter in your portfolio.
Conversion into jewellery during redemption would entail 15-20% wastage and making charges, rendering the scheme inefficient
The blaze erupted around 7 am in Kamla building located opposite Gandhi Hospital at Gowalia Tank, the official of the Brihanmumbai Municipal Corporation (BMC) said.
Shiromani Akali Dal-Amritsar's Simranjit Singh Mann on Sunday won the Sangrur Lok Sabha seat after defeating his nearest rival, Aam Aadmi Party's Gurmail Singh, by a margin of 5,822 votes.
The Justice A Arumughaswamy Commission of Inquiry that probed the circumstances leading to Jayalalithaa's death in 2016, in its concluding remarks said that V K Sasikala, the late Chief Minister's confidante, 'have to be found fault with and investigation is to be ordered'.
