rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
The US on Wednesday announced tariffs on six countries, including India, that have imposed or are considering equalisation levy/digital services tax on e-commerce companies but immediately suspended the taxes for up to six months to provide additional time to complete the ongoing multilateral negotiations on international taxation at the OECD and G20. United States Trade Representative (USTR) Katherine Tai, in a statement, announced the conclusion of the one-year Section 301 investigations of Digital Service Taxes (DSTs) adopted by Austria, India, Italy, Spain, Turkey and the UK. "The final determination in those investigations is to impose additional tariffs on certain goods from these countries, while suspending the tariffs for up to 180 days to provide additional time to complete the ongoing multilateral negotiations on international taxation at the OECD and in the G20 process," the statement said.
For all its claims to economic glory, the majority of India's population lives vulnerable lives, a situation that has only worsened over the past 15 years, to the extent that the government now fears to release economic data or even conduct a proper Census, notes Rathin Roy.
The government's target of hitting $52 billion to $58 billion in mobile phone exports in FY26 has been faltering; an Indian corporate group with financial muscle will help.
Crypto exchanges have been asked to furnish details this month itself.
Can this growth in GST collection be sustained in the coming years? asks A K Bhattacharya.
The post-1991 economic boom was accompanied by a reduction in indirect taxes and rise in the share of direct taxes, and vice versa in the current slowing
The Himachal Pradesh government's Excise and Taxation Department inspected an Adani Group company, scrutinising records and checking the stock at the Adani Wilmar warehouse in Parwanoo, officials said on Thursday. The officials were apparently investigating possible GST violations by the company, a 50:50 joint venture between the Adani conglomerate and Singapore-based Wilmar. The inspection on Wednesday evening in the Congress-run state comes at a time when the group finds itself in the middle of a political row at the Centre, triggered by a scathing report by US-based Hindenburg Research.
'India has the potential to do a lot more to take advantage of the time today where we stand to gain, geopolitically and in terms of market attractiveness.'
The vacancies are learnt to be impacting the I-T department's day-to-day functioning.
While one can file an updated return, there are certain caveats, warns rediffGURU Mihir Tanna.
'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.'
The Supreme Court on Thursday ruled that the Goods and Service Tax (GST) Council's recommendations are not binding on Union and State but have a persuasive value as the country has a cooperative federal structure.
The Union government could target a fiscal deficit of 5.8-6 per cent of nominal GDP for 2023-24, and it should continue its capital expenditure push and look to simplify the personal income tax regime, economists recommended Finance Minister Nirmala Sitharaman and her team during their pre-Budget interaction on Monday. Starting last week, Sitharaman had eight pre-Budget consultations this time. More than 110 invitees representing seven stakeholder groups participated in these meetings, the finance ministry said in a statement. The stakeholder groups included representatives and experts from agriculture and agro-processing industry; industry, infrastructure & climate change; financial sector and capital markets; services and trade; social sector; trade unions and labour organisations; and economists.
Online skill-based gaming industry has made a case for retaining the service under 18 per cent GST slab instead of putting it into the highest 28 per cent tax rate category, saying the move will badly hit the $2.2-billion sector. The increase in taxation would not only have catastrophic impact on the industry but also encourage offshore operators who would circumvent Indian tax jurisdiction by hosting games in some other country, Games24x7 Co-CEO Trivikraman Thampy said. "It would be a triple whammy -- the industry loses out, the government loses out on tax revenue and players loses out as they would be exposed to unscrupulous operators," he said.
Now that bank FD rates have gone up and most BAFs haven't delivered good returns, these investors are likely to be moving back to FDs, observed a senior MF distributor. The performance of BAFs in the past year has been mixed.
First Rajya Sabha approved the Rs 45 lakh-crore spending proposed in the Budget, followed by the nod to the Finance Bill that contains tax proposals.
Instead of conceding the demand for a cut in personal income-tax rates, Finance Minister Nirmala Sitharaman should phase out many exemptions in both personal and corporation taxes, suggests A K Bhattacharya.
PEs and VCs are taking a closer look at their bouquet of investments. Leading voices in the sector are categorical that cash-burn rates -- that's blowing up equity to acquire market share -- as a business model can't continue to be the polestar.
Corporate India continues to be generous in rewarding its shareholders with big dividend payouts. This is especially true for shareholders of companies such as Tata Consultancy Services (TCS), Hindustan Zinc (HZL), and Coal India (CIL) which are seen as cash cows of large business groups and the government. Boosted by a big payout by these three companies, the combined equity dividend payout by listed companies was up 38 per cent year-on-year (YoY) to a record high of Rs 2.27 trillion in 2022-23 (FY23), compared with Rs 1.65 trillion in 2021-22 (FY22).
In the face of tax blow, brokerages remain sanguine about the prospects of asset management companies (AMCs). A sharp correction in the shares of AMCs over the past three months factors in most of the negatives and turned valuations attractive, observe analysts. In its latest report, Kotak Institutional Equities (KIE) has upgraded HDFC AMC to 'add' (from 'reduce') and reprised 'add' and 'buy' ratings on the rest of the listed AMCs - Nippon, UTI, and Aditya Birla Sun Life.
The gross tax revenues have touched 65 per cent of the Budget estimates at Rs 17.81 lakh crore during the first eight months of the current fiscal till November, propelled by corporate and personal income tax mop-up, according to the Economic Survey 2022-23 presented in Parliament on Tuesday. The survey, authored by Chief Economic Advisor V Anantha Nageswaran, said the 'substantial reforms' in India's taxation ecosystem post-2014 and policy reforms have removed the distortionary incentives from the economy. Reforms like GST, reduction in corporate taxes, exemption of sovereign wealth funds and pension funds from taxes, and removing Dividend Distribution tax have reduced the tax burden on individuals and businesses.
Most of the long-only funds are closed-ended. This means that investors have to lock in their money for a fixed period before they can take it back.
The fear of rejection keeps many of us from experiencing the rich lives we deserve, notes Harsh Roongta.
The Union Budget for 2017 is likely to be presented on February 1. An approval for merging the Railway Budget with the General Budget was accorded by Finance Minister Arun Jaitley on Monday.
It is high time the Indian government signalled discomfort with the UK providing refuge to those accused of financial crimes in India, states Jaimini Bhagwati.
Common return for excise duty and service tax was envisaged when 119 services were taxed.
Reminiscent of the past two years, the market has made positive strides ahead of the Union Budget 2023-24 (FY24). The benchmark National Stock Exchange Nifty has gained 1.8 per cent in the last month. Typically, markets tend to gain ahead of the Budget as investors build in optimism.
New Delhi and Washington have agreed to count the benefits of a global agreement on taxation from the next financial year. However, the benefits would actually accrue once the global pact comes into effect or March 31, 2024, whichever is earlier, in the form of credit.
The mandatory use of the Indian flag on SCI's ships has been a bone of contention with prospective buyers, on account of the costs it will entail in terms of taxation and vessel registration.
Elections may be a few months away, but the government may get into election mode much earlier than that, predicts A K Bhattacharya.
In a major sign of transformation of manufacturing-dominated Chinese economy, annual output of its service sector may exceed that of the manufacturing sector for the first time ever in 2013, an expert said.
The key proposals from the IT industry that were not addressed included removal of dual levies on software products
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 Civil Services of India continue to be a prestigious avenue for all those dreaming of 'making it'. Here's how you can be an IAS/ IPS officer.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
The surprise action comes weeks after the broadcaster aired a two-part documentary on the 2002 Gujarat riots and India.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The Director General of Goods and Services Tax Intelligence (DGGI) has slapped its heftiest tax notice of Rs 21,000 crore on Bengaluru-based Gameskraft Technology (GTPL) for allegedly evading GST on the betting amount. Gameskraft has dubbed the notice a "departure from the well-established law of the land". The company is accused of promoting online betting through card, casual and fantasy games like Rummy Culture, Gamezy and Rummy Time.
The Supreme Court collegium headed by Chief Justice D Y Chandrachud has recommended the names of three advocates for appointment as judges of the Bombay high court.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances