This means taxpayers might continue to enjoy exemption on maturity of their investments
Democratic presidential nominee Hillary Clinton on Monday took a dig at the tax return expose of her Republican rival Donald Trump by questioning his business credentials.
Till such time that a new governance framework comes into being, the progress of reforms in health, education, land, labour, electricity and agriculture could remain fraught with problems, agitations and delays, observes A K Bhattacharya.
For the second year in a row, India has been recognised as the fifth-best performing nation in reforming the business environment. However, in the two categories that the government was banking on most - "Paying Taxes" and "Resolving Insolvency" - landmark reforms that were expected to yield better results have had the opposite effect. Under the circumstances should the country celebrate already or are there any reasons for worry, wonders Subhayan Chakraborty.
It would be ludicrous to expect Modi, Erdogan or Biden to pay to keep blue ticks on their respective official accounts. It would be equally ludicrous to expect the Delhi Metro or the Income Tax Department to pay, points out Devangshu Datta.
Lowering excise duty on petrol, diesel, and other fuels, branded fuels.
The rupee has been falling for five straight weeks, taking its losses this quarter to 6.6 per cent, making it the worst performing currencies in Asia during this period.
Taxpayers will have to disclose all bank accounts held by them in India.
Stock exchanges have increased scrutiny of investors domiciled in Sikkim, following reports of illegal routing of investments through the Northeast state to evade taxes. The National Stock Exchange (NSE) has directed its trading members (brokers) to re-verify and certify investors who have declared their permanent address as Sikkim. Further, brokers have been told to maintain a vigil on the location of devices used by Sikkim-based clients for trading to ensure these are genuine investors from the region.
...for others it would be an incentive to participate more robustly in equities and other tax instruments.
Even after filing your income tax return online, your job won't still be over! Here is a six-point checklist for taxpayers to be observed after e-filing of ITR.
The Budget sets out a comprehensive vision.
The remarks by the CJI came against the backdrop of the recent remarks by Vice President Jagdeep Dhankhar who questioned the landmark 1973 Kesavananda Bharati case verdict that gave the basic structure doctrine.
The text of the Income tax amendment is so wide and so riddled with ambiguities that it deserves to be scrapped for those reasons alone, says N S Nigam.
An online system generates import-export code.
There are tell-tale signs of a slide in the quality of Budgets presented by the current administration, says Parthasarathi Shome.
While the two-phased assembly polls voting has concluded in Assam, in West Bengal two phases have completed while four more remain.
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
Now the processing of return filed will be through your Aadhaar Number, where, you can link it with your PAN and get rid of sending ITR V to CPC, Bangalore.
This was not the first time "Wiki" - a widely used, free resource - was appealing for funds. Finally, reports indicated that Google had agreed to pay for Wikipedia content.
Congress President Sonia Gandhi on Wednesday released the party's manifesto and claimed that the party will perform well in the forthcoming Lok Sabha polls.
It said the sleuths have recovered Rs 14.6 crore of "unaccounted" cash and seized diaries and computer files of suspect payments made between Madhya Pradesh and Delhi.
Congress leader Rahul Gandhi appeared before the Enforcement Directorate (ED) on Wednesday for the third consecutive day of questioning in the National Herald money laundering case, with the agency seeking answers on decisions taken with regard to the media organisation and its owner Young Indian.
Outcome of Assembly polls in five states will set the tone for the winter session of Parliament beginning on Thursday though the government has listed a heavy legislative agenda and opposition is demanding extension of the 12-day sitting.
Prasanna D Zore/Rediff.com reports on the chaos facing taxpayers with the income tax department making changes to ITR 2 and 3 forms just before tax-filing deadline.
In a debacle for Barack Obama and the Democratic Party, Republicans today gained control of the United States Senate and increased its majority in the House of Representatives in a sweeping midterm election win that could complicate the President's final two years in office.
The new measure will ease the process of quick generation of refunds of taxpayers.
Prime Minister Narendra Modi on Wednesday said that the country's economic growth is picking up pace again and the domestic industry needs to enhance its risk-taking appetite. Noting the recent reforms taken by the government, the Prime Minister said that bringing reforms is a matter of conviction for his government, which is ready to take all risks in the national interest. "We have taken bold decisions. Reforms continued even during pandemic. "The government is doing reforms not out of compulsion but out of conviction," he said while addressing the CII's annual meeting.
"I have made a mistake; I accept responsibility; I resign," the 42-year-old barrister said.
Reserve Bank Governor Shaktikanta Das on Wednesday said underlying economic activity in India continues to be strong, but external factors will cause some "dent" to the economy. Speaking at the BFSI Insight Summit 2022 organised by Business Standard, Das said the RBI tracks 70 fast moving indicators and most of them are in the "green box". It is the external sector, mired by a fear of recession or clear visibility about slowing growth in a large part of the world, where the challenges lie, he said, adding that the impact of external demand will "dent" the economy.
After the case was registered, the CBI carried out searches at four places in the national capital and Bengaluru.
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The ball is now in the Reserve Bank of India's court to lift up demand, says Ajay S Shriram.
A K Bhattacharya lists three reasons why Finance Minister Arun Jaitley will most likely present a full Budget on February 1, 2019.
The Indian business community wants to see a strong stable government with a willingness to reform, break down the shackles of the past which is holding India back.
Here's what could be ahead for India: A $10-trillion economy by 2030-32, a Sensex at 1,00,000 by 2025, monthly GST revenues at Rs 2 trillion by 2024-25, 100 new unicorns by 2025, and poverty below 5 per cent by 2030, predicts R Jagannathan.
The Reserve Bank of India's (RBI) new rules for credit and debit cards came into effect from October 1. These include tokenisation, one-time password (OTP) for activation after 30 days, written permission for enhancement of credit limit, and greater clarity on interest calculation.
But use of that word -- privatisation -- is not encouraged. This seems to be a classic case of reforms through subtle signals, observes A K Bhattacharya.
The incoming government will have to encourage private investments, bring down cost of capital
It will bear fruit in the next five years, which is why FDI is so strong. The foreigners clearly know what Indians don't, asserts T C A Srinivasa-Raghavan.
When you sell your property, you would be liable to pay capital gains tax.
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