There are judicial precedents where it has been held that if payment is made for temporary disablement, it would be taxable, points out Tinesh Bhasin.
Both NRIs and those who make payouts on sale of property need to understand the TDS provisions that are applicable or risk punishment, warns Sanjay Kumar Singh.
IOC along with HPCL and BPCL took a hit of about Rs 4,500 crore from absorbing Re 1 a litre hike.
The Street is talking about the New Rakesh Jhunjhunwala who has invested heavily in a particular stock.
India's appetite for imported crude oil may wane in fiscal year (FY) 2023 from record levels in pre-pandemic 2019-20 fiscal as higher oil prices, a spillover from the conflict in Ukraine, and increasing use of biofuels affect domestic demand for petroleum products. Brent crude surged to a nine-year high, shy of a July 2008 record $147.50 a barrel, before declining to around $100 a barrel - but the volatility in commodity rates will slow global economic growth and use of fuels. Demand for all oil products may grow at only 2-3 per cent in FY23, slower than the current fiscal and nearly half the 5.5 per cent growth estimated by the petroleum ministry, according to industry officials.
While using the family to save tax is legal and smart, ensure you use the ones where clubbing income laws isn't a concern, advises Bindisha Sarang.
The reimbursement components of your salary require you to furnish bills before they become tax-exempt. Producing them may be difficult this year.
'We would advise investors to invest in a disciplined way in equities for the long term.'
Finance Minister Nirmala Sitharaman cut fuel subsidies while slapping additional fuel taxes on unblended transport fuels in the latest Union Budget. The former will hit the rural poor, households that secured a subsidised LPG connection under the Pradhan Mantri Ujjwala Yojana (PMUY), a programme that was partly instrumental in helping the Bharatiya Janata Party (BJP) win the 2019 general elections. The latter will pretty much hurt the entire population after it kicks in from October. That's what it looks like. Or, perhaps, it's not as it appears to be, at least on the subsidy front.
Treat silver as part of the procyclical or growth assets in your portfolio, advises Sanjay Kumar Singh.
Under Section 80D, you can avail of deduction on payment made towards preventive health check-ups.
There has been an exponential increase in the use of technology to validate financial numbers, with a greater reliance on electronic evidence, use of live videos where possible, data analytics, and project management software to overcome the physical limitations in verifying transactions and accounts.
Chartered accountancy firm Lodha & Co has resigned as a statutory auditor for Birla Global Finance.
Bubbly is the latest in a string of brands that are touching the three-digit mark quickly.
Incomes such as dividend, interest on tax-free bonds, eligible gifts, etc should also be reported even though they are tax exempt, suggests Sanjay Kumar Singh.
It's not unusual for the tax departments to freeze bank accounts and there have been instances of the authorities recovering the outstanding from the bank, though such course of action is not common.
Shah and Javalgekar were arrested on May 7.
If you are scouting for a property, finalise the deal within the next seven months and benefit from this measure, suggests Bindisha Sarang.
2 office bearers each from Yeddyurappa and Eshwarappa camps have been relieved.
India is often viewed as an aggressive tax jurisdiction by domestic and overseas taxpayers, and making the charter as part of the Act may help restore confidence among taxpayers.
Companies are looking to combine risk management with strategy.
Reader Aloke Surana has sent us photographs.
When submitting house rent allowance receipts, claiming that you pay rent to a close relative like parents, siblings or spouse, ensure that you have supporting documents to substantiate it.
A writ petition, challenging the ordinance was filed in the Rajasthan high court.
'There is a huge tax differential of 15% to 20% depending on income classification.'
'The markets could shrug off demonetisation as a one-off extraordinary period.'
Approximately 72% people wear inappropriate sized footwear which is associated with all kind of foot problems.
'It was not the individual's decision. It was the collective decision (that BSY should resign).'
The fuel delivery scheme mainly targets consumers that buy in bulk.
According to PRIME Database, there are nine companies with active buyback programmes of Rs 8,605 crore. Among these, Infosys's share repurchase programme is the biggest at Rs 8,260 crore.
The newly elected Rajasthan Cricket Association (RCA) has set up a three member committee, headed by a retired IAS Mahendra Surana, to probe the alleged "financial irregularities" during the tenure of former president Lalit Modi.
The government has also developed a PAN activity monitoring.
The merged entity will become the third biggest refiner behind IOC and Reliance Industries.
In 2015, foreign investors slowed net buying of Indian equities.
Post the correction over the past one year, we are seeing opportunities across sectors.
Salman Khan has been released from jail, according to reports.
While the crackdown is a major step in combating tax evasion and improving transparency, it might also impact the flexibility and genuine corporate structures created to achieve legitimate objectives, says Suresh Surana.
The sessions court on Thursday extended the police custody of the Financial Technologies and Multi Commodities Exchange (MCX) promoter Jignesh Shah and former managing director and chief executive of the commodity exchange Shreekant Javalgekar till May 19.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
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