The coming Union Budget might give relief to foreign portfolio investors from taxation on indirect transfers.
Assocham president Niranjan Hiranandani said his talks with government officials showed dues to industry and states were pending in the form of refunds of income tax, value-added tax, and GST, and compensation, payments to discoms in the power sector, fertiliser subsidies, etc.
A growth scheme not only leads to lower tax payments than the dividend option. but also allows any income that is not withdrawn to compound, explains Harsh Roongta.
Tax-saving investments should not be made with the sole purpose of saving tax, but should also help an individual grow his wealth, suggests Archit Gupta, founder and CEO, ClearTax.
Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 provides for a minimum penalty of Rs 50,000
The Maharashtra Congress has convened a meeting of its legislators on Tuesday in view of the developments in the state that saw a split in the Nationalist Congress Party and Ajit Pawar being inducted as deputy chief minister in the Eknath Shinde government.
The I-T department said NuPower's balance sheet did not substantiate the high premium paid by Singapore-based DH Renewables for its shares, and suspects it could be a case of round-tripping of unaccounted income by NuPower.
'To save the LTCG, it's always better that the owner of the property that was sold also becomes the title holder in the new one.'
The Income Tax department has issued notice to a firm owned by Robert Vadra as part of its probe to understand the "financial structure" of the company and real estate projects undertaken by it.
Today, the single most popular route of laundering is the stock market platform, notes Debashis Basu.
The Nobel laureate filed an application before the High Court.
The ruling mean FPIs cannot seek treaty protection against the new withholding tax that companies are required to deduct at source. The apex court order pertains to when the cricketing bodies of Pakistan, India, and Sri Lanka formed a joint committee to conduct the 1996 Cricket World Cup.
The Indian government has asked a federal court in Washington to dismiss Britain's Cairn Energy suit seeking enforcement of a $1.2 billion arbitral award, saying it had sovereign immunity under US law. Cairn had in May asked a US federal court to force Air India to pay a $1.26 billion arbitration award the firm had won in December. The government on August 13 filed a 'Motion to Dismiss' petition in the US District Court for the District of Colombia, saying it lacked subject matter jurisdiction in the dispute between Cairn and the Indian tax authority, according to a filing seen by PTI.
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.
BJP spokesperson Sambit Patra claimed that the home ministry's decision to cancel the FCRA licences of the Rajiv Gandhi Foundation and the Rajiv Gandhi Charitable Trust for alleged violation of laws has "exposed" their corruption.
Eminent business journalist and author Tamal Bandyopadhyay discussed Budget with rediff.com readers on Tuesday.
The income tax department was committed to treat every taxpayer as honest, unless proven otherwise, and provide fair, courteous and reasonable treatment, according to the taxpayers' charter adopted on Thursday. The charter also expects taxpayers to pay taxes on time and be honest and compliant.
The order, which came on Monday, stated that revenue authorities cannot split the agreement when the parties to the agreement considered the royalty and technical knowhow as a single package.
After coming out of CBI headquarters in New Delhi, Chidambaram said he had appeared before the CBI and the first information report did not contain any allegations against him.
Polling in Vellore was scheduled on April 18.
Barcelona captain Lionel Messi has said he considered leaving the club when he was investigated for tax fraud in 2013, saying he felt "badly treated" by Spain.
Stock indices slip on fears that income tax department will go after offshore derivatives
NDTV promoter group firm RRPR Holding has told VCPL, which along with two other Adani group firms has launched a hostile takeover bid for the media firm, that its stakeholding in NDTV has been provisionally attached by the I-T authorities and require their approval for the transfer. The contention has been rejected by the Adani group, which termed it as "misconceived and misleading" statements while asking RRPR Holding to convert the warrants into equity shares. In a regulatory filing, NDTV said that its founders Radhika and Prannoy Roy have informed that RRPR Holding has intimated Adani group firm Vishvapradhan Commercial Pvt Ltd (VCPL) that the attachment of the shareholding, notified in 2018, shall remain in place until the completion of reassessment proceedings.
Soccer's five-times World Player of the Year Lionel Messi said on Thursday he knew nothing about an alleged tax evasion scheme when he signed contracts related to image rights.
The properties the government is eyeing to dispose of this year are located in prime locations of cities like Delhi, Mumbai, Surat, Ahmedabad, Bengaluru and Chennai.
'Votes-for-notes no longer only means cash and goodies for fence-sitting voters,' points out Sunil Sethi.
Experts believe the new norms may be an indirect way for Sebi to apply the brakes on dividend option plans in MFs.
With a new higher tax regime coming into effect from the new financial year, top corporates and wealthy investors are in a rush to restructure their shareholding.
A frustrated Lionel Messi said he is tired of being blamed for problems at Barcelona after he was accused by Antoine Griezmann's former agent of making life difficult for the French striker at the La Liga club.
Rediff.com's Syed Firdaus Ashraf traces the journey of PM-CARES from its founding to finally admitting it is not a government fund.
Their favourite alternatives: Malaysia, Vietnam and the Philippines. Note, India is missing from that list. And this is despite an attractive financial incentive scheme for OSAT players. The reason, said a senior executive of a US chip company who had a meeting in Taiwan just a few weeks ago, is that "they want more predictability in government policy because they plan to put in big money."
About 45 per cent of those who are part of the workforce, or about 207 million, are estimated to be engaged in agriculture and many of them will be outside the income-tax net and hence may not need a PAN. So, what does allotting PAN to 369 million individuals actually mean, wonders A K Bhattacharya.
The new measures will lead to tax collection of Rs 9,000 crore
A total of 406 aircraft are in the fleet of eight scheduled airlines in the country, most of which were suffering losses, Lok Sabha was informed.
Sitharaman said Aadhaar card for NRIs with Indian passports will be issued after their arrival in India, without the mandatory 180 days' waiting period.
A bench headed by Chief Justice H L Dattu agreed to hear the CBI's two petitions on reopening of the court after the Dussehra break.
The Enforcement Directorate (ED) on Wednesday told the Delhi high court that Chief Minister Arvind Kejriwal, arrested in a money laundering case linked with the alleged excise scam, cannot claim "immunity" from arrest on the ground of upcoming elections as law is applied equally to him and an aam aadmi.
The department of economic affairs is said to be in discussions with various probe agencies, including the income tax department and the Enforcement Directorate, and bankers in drafting the final rules.
PMO asked income-tax department to submit report on action taken against identified benami owners
Former Dabur director gave sketchy details of investors and his employer after two years of tax summons.
