The Enforcement Directorate has questioned Yash Birla, Chairman of Yash Birla Group, in connection with certain overseas financial transactions, officials in the central agency said on Monday.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The Indian National Congress is in no way connected with the businesses of Dheeraj Sahu, MP. Only he can explain, Congress general secretary in-charge communications, Jairam Ramesh said.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
What is worrying is that this year, angel investments and seed funding deals have fallen by 40 per cent, ringing alarm bells in the start-up community in India.
At the end of the day, this isn't about choosing between EMIs and SIPs. It's about choosing your path to financial freedom.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
First things first: For those wondering if they need to reapply, the answer is no.
You filed your income tax returns for 2017-2018 and think you tax problems are over for now. But have you paid your advance tax this quarter, asks Samkit Maniar.
A taxpayer paying rent to his/her spouse is entitled to claim HRA benefit under relevant sections and within prescribed limits.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Undisclosed income has been detected in respect of 10 assessee groups which included those linked to AIADMK leader V K Sasikala.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
"The British Broadcasting Corporation (BBC) is a globally respected institution and broadcaster whose news material I consume everyday. Secondly, all organisations have to obey the law of India. BBC is talking to Indian authorities about that," Ellis said.
'When a gift is received in cash, it is likely to be questioned, and your father may need to explain its source.'
The Enforcement Directorate on Monday raided the premises of former Chhattisgarh chief minister and senior Congress leader Bhupesh Baghel as part of a money laundering investigation against his son in the alleged liquor scam case and seized about Rs 30 lakh apart from some documents, official sources said.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Vadra was asked to join the investigation at the tax authority's office but as he cited COVID-19 restrictions, a team of officials visited his premises in Delhi's Sukhdev Vihar area.
The Enforcement Directorate (ED) has filed a chargesheet in the National Herald case, accusing Congress leaders Sonia Gandhi and Rahul Gandhi of a "criminal conspiracy" to "usurp" properties worth Rs 2,000 crore of its public company AJL by transferring 99 per cent shares for just Rs 50 lakh to their private company Young Indian. The ED has named Sonia Gandhi as accused no 1 and Rahul Gandhi as accused no 2 in the chargesheet, which was filed under various sections of the Prevention of Money Laundering Act (PMLA).
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Income-tax payers fear they will receive notices from the government because the annual information statement (AIS) provided by the I-T department in many cases is showing incomes in excess of their earnings. The Central Board of Direct Taxes (CBDT) has dismissed these fears as unfounded. The deadline for filing income-tax returns (ITRs) for the assessment year 2022-23 ended on July 31.
Should the Income-Tax Act have been simultaneously amended to exclude Sikhs and Jains from the definition of HUF once they were declared a minority by the government? Sanjeev Nayyar discusses the curious dichotomies in our laws.
Questions on the efficacy of the government's drive towards filing of more returns by individuals and on whether raising tax exemption levels has led to reduced compliance in filing of returns by those who go out of the tax net, says A K Bhattacharya.
'LAP is suited for borrowers with a steady income, sound repayment discipline, and a clear repayment plan.'
rediffGURU Samkit Maniar answers readers' personal income tax queries.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Trump may temper his approach from time to time, but to think that he will change his basic philosophy is delusional, asserts T T Ram Mohan.
'From tariff tensions and border skirmishes to unrest in West Asia.' 'The worst may be behind us. But any further upmove will now have to come from earnings.'
The government has cancelled the FCRA registration of nearly 1,900 NGOs for violating various provisions of the law in the last five years. There were 22,762 FCRA-registered organisations till December-end 2021.
They were participating in a debate on the bill for giving effect to various compliance relief measures for taxpayers, including extending time limits for filing returns, in the wake of the coronavirus crisis and tax benefits for donations to PM CARES Fund.
Vodafone pleaded in High Court that IT department had no jurisdiction in the transfer pricing case because the said transaction was not international and did not attract tax.
Deposits of Rs 3 lakh are "justified" if a person has an annual taxable income of Rs 10 lakh and the tax department will "not touch" him.
Some of his directives had the Supreme Court judges disclose their assets whereas the row over the discovery of cash from a sitting judge's official residence paved way for inquiry.
rediffGURU Ulhas Joshi recommends five factors you need to look at to evaluate the performance of two schemes.
The income tax department has found alleged manipulation of account books for reducing taxable income in India by Chinese telecom company Huawei whom it raided recently, sources said on Thursday. The searches were conducted on February 15 at the main business and residential premises of "key office bearers" of a multi-national group, engaged in distribution of telecom products and providing captive software development services, the CBDT said in a statement. Sources identified the company as Huawei.
The Central Board of Direct Taxes (CBDT) has proposed a new common income-tax return (ITR), with greater focus on disclosing income from virtual digital assets or crypto assets and foreign equity and debt instruments held by resident Indians. For non-resident Indians, the draft ITR seeks exhaustive details ranging from nature of business, permanent establishment (PE), business connection, whether the entity has significant economic presence (SEP) in India, along with the number of users in India. The ITR protocol for NRIs could widen the scope of the SEP principle that was introduced in the Finance Bill 2018-19, and the explicitly defined 'business connection' to include provision of download of data or software, if aggregate payments from such transactions exceed a prescribed amount, or if a multinational's interaction is with a prescribed number of users.
'Planning for the transfer of assets to the next generation is an important aspect of financial and estate planning.'
'Some part could be used for consumption purposes, and the rest could be used to meet important financial goals.' 'The split can be 30:70 to 50:50, depending on one's situation.'
