'Individuals can consider dividing ownership of properties between related persons to ensure that the sale transactions are below the Rs 50 lakh limit and therefore not subject to TDS.'
Enhancing your credit score is the key to improving loan eligibility and securing a favourable interest rate.
Don't solely focus on tax-saving alone.
Taxpayers with old, outstanding taxes will benefit from the CBDT's new scheme.
From almost 60 per cent as of December 2019, the share of liquidations in the mode of closure of total Insolvency and Bankruptcy Code (IBC) cases came down to 44 per cent till September 2023, data by the Insolvency and Bankruptcy Board of India (IBBI) shows. Experts say the decreasing trend in liquidations under the IBC in India can be largely attributed to the initial economic conditions of companies entering the Corporate Insolvency Resolution Process (CIRP). IBC experts also say the trend shows a certain stabilisation in IBC with the Code now rid of legacy bankruptcy issues.
Similarly, FDI from Cyprus too increased by about three-times to $879 million in the last financial year from $296 million in 2018-19.
rediffGURU Anu Krishna tells you how to deal with your emotions in a positive way during the festive season.
A new schedule has been added to report income from cryptocurrencies and other Virtual Digital Assets.
If the gift is received from a relative, there is no tax implication. But if the gift is received from a non-relative and exceeds Rs 50,000 in value during a financial year, the entire value of the gift is taxable.
The government is exploring legal options, including bringing an Ordinance, to tackle the problem of income-tax litigation on reassessment notices under old, time-barred norms, according to official sources. This has come in the wake of writ petitions filed by companies and individuals in recent weeks to challenge the validity of the notices issued by the tax department between April 1 and June 30 and under the old norms.
A week after the Income Tax Department's much publicised new e-filing portal went live, users continued to face technical glitches ranging from longer than usual logging time, inability to respond to notices and not all features functioning yet, chartered accountants said on Monday. The new portal, "http://www.incometax.gov.in/"www.incometax.gov.in, was launched last Monday (June 7), which the tax department as well as the government said was aimed at making compliance more taxpayer-friendly. But users complained of technical issues facing the site from the very first day and not everything has been fixed even after a week, chartered accountants (CAs) said, adding that taxpayers are unable to view past e-filed returns and many features/ facilities continue to be marked 'coming soon'. Finance Minister Nirmala Sitharaman herself had asked Infosys - the vendor which created the portal - and its Chairman Nandan Nilekani to fix the technical glitches.
The arbitration of any court is legally binding and the government) can approach the Singapore high court.
The government on Thursday extended the due date of filing income tax returns for 2020-21 for individuals by two months till September 30. The Central Board of Direct Taxes (CBDT) has also extended the ITR filing deadline for companies by a month till November 30. As per the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms the deadline to file ITR is July 31. The deadline for taxpayers, like companies or firms, whose accounts are required to be audited is October 31.
Trump, who is seeking to contest the 2024 presidential election from the Republican Party, on Thursday pleaded not guilty before Upadhyaya as he appeared at the courthouse that sits just blocks away from the Capitol, where his angry supporters stormed the US Congress on January 6, 2021.
rediffGURU Anu Krishna explains how you can improve your mental health by seeking professional help.
The bill to nullify retrospective taxation offers a fair solution within the framework of Indian law and Parliamentary sovereignty to companies which have been subjected to such demands, Finance Secretary T V Somanathan said on Thursday. Finance Minister Nirmala Sitharaman introduced 'The Taxation Laws (Amendment) Bill, 2021' in the Lok Sabha that seeks to withdraw tax demands made using a 2012 retrospective legislation to tax the indirect transfer of Indian assets. The Bill provides for the withdrawal of tax demand made on "indirect transfer of Indian assets if the transaction was undertaken before May 28, 2012 (i.e. the day the retrospective tax legislation came into being)."
It will be just the four women and their killer machines.
Larger firms feel that the smaller players have muddied the waters for the IBC process, leading to excessive regulation of resolution Professionals.
The report, floated recently, comes a few days after the government cancelled the registration of Bengaluru-based NGO Infosys Foundation for alleged violation of norms in receiving foreign grants.
Companies such as Tata Sons and Bharti Telecom, which are unlisted but have listed subsidiaries, may soon have to file periodic financial statements with the registrar of companies under the new provision of the Companies Act. The provision requires greater financial disclosures by a certain category of unlisted companies.
Currently there is no standard ideal debt to equity ratio.
A taxpayer filing ITR electronically without digital signature has to verify it using either Aadhaar OTP, or logging into e-filing account through net banking, or by Electronic Verification Code or by sending a duly signed physical copy of ITR-V through post to CPC Bengaluru within 120 days of uploading the ITR.
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.
'The stockbroker should have a good balance sheet to support its scale of operations. It should also have proper risk management in terms of margins so that it doesn't go bankrupt during extreme market movements.' 'The broker must have a track record of navigating several market cycles in an ethical and transparent manner.'
The I-T department issued a circular allowing manual filing of Form 15CA/15CB (required for foreign remittances) with banks till June 30, so that business transactions may go on. The forms will be uploaded online on the e-filing portal later, it added.
The due date for filing Income Tax returns for 2019-20 has already been extended till November 30, 2020.
Any additions in demand made by a tax officer under the faceless assessment process for over Rs 5 lakh of income will undergo a rigorous review process before a final demand order is passed.
Missing the deadline for filing Income Tax returns can lead to consequences.
A record GST tax collection, an overhaul of the income tax return filing portal and the landmark move to scrap retrospective taxation have set the stage for the next level of reforms in tax administration that include bringing a framework for cryptocurrencies and rationalising the GST rate structure. With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination. The task ahead is going to be a tough one as the tax department would grapple with taxing cryptocurrencies, rationalising Goods and Services Tax (GST) rates to shore up revenues and post June 2022, the scenario of how the GST revenue plays out for states without the Centre's support of compensation.
Other decisions piled up include rationalisation of GST rate slabs, correction of inverted duty on certain items and inclusion of petroleum products.
If you feel that being around the person is physically and mentally draining, then it's a red flag that you should not ignore, warns mental health expert Anu Krishna.
Toxic people are all around us. And they can cause us emotional and mental damage. Mental health coach Anu Krishna explains how to deal with toxic, abusive, people and relationships.
This property has all the hallmarks of being owned and occupied by Vijay Mallya. A fleet of supercars making their way down the drive, hordes of people descending to party all night long and a constant delivery of goods and services.
Manchester United said on Tuesday it was commencing a process to explore strategic alternatives, including a new investment or a potential sale, 17 years after the American Glazer family bought the English Premier League soccer club.
The online world is filled with love gurus promising to teach "how to woo someone in minutes", unlike those who talk about the need to do the self-work.
As these forms are quite elaborate, their early notification will give assessees more time to get the documentation and paperwork ready, and hence make complete disclosures while filing their returns.
Serena Williams could easily walk off the court and into the broadcast booth if she wants to, pocketing a handsome paycheck and boosting ratings for a sport that is losing star power, those in the business say.
CEO of talent management firm Cornerstone Bunty Sajdeh said allegation of conflict is nothing but conjecture.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
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