Agricultural incomes can be taxed without hurting farmers, as a substantial section - the small and marginal ones - will remain outside the tax net simply because their incomes are likely to be below the basic exemption limit of Rs 250,000 per annum that is extended to all taxpayers in India, finds out Ishan Bakshi.
Tax Guru Anil Rego answers your personal income tax queries
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Pranab presents his fourth Budget.
It would be interesting to see what the government proposes to investors.
Replying to the debate on the Finance Bill in Lok Sabha, the minister said he did not propose any change in the tax rate but only provided few rebates which will boost spending and help the economy.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Mumbai accounts for the largest share of electoral bonds sold since inception.
Pranay Bhatia offers insights on some key issues from Nirmala Sitharaman's maiden Budget.
Finance Minister Pranab Mukherjee presented the Union Budget 2010-11 in parliament on Friday. A look into the hihghlights.
In his maiden Budget presented in Parliament on July 10, Finance Minister Arun Jaitley has tried to provide relief to the middle class by increasing tax exemption limit by Rs 50,000 to Rs 250,000.
Indirect tax revenues rose marginally by 5.6 per cent in the April-October period to over Rs 2.85 lakh crore, mainly on account of increase in service tax and customs collections.
rediffGURU Vivek Lala answers your income tax and personal finance queries.
Rising compliance, buoyant collections may prompt this move
Brokers believe that the higher charges may not completely deter investors from taking bets in F&O but could help cool down some activity, as the threshold to break even rises.
Finance Minister Arun Jaitley presented his first Budget on Thursday.
Six years after the rollout of the biggest indirect tax reform in India, Goods and Services Tax (GST) revenue of Rs 1.5 lakh crore every month has become a new normal and tax officers are focusing on dealing with fraudsters who are adopting newer modus operandi to game the system, causing loss to the exchequer. To apprehend black sheep, who operate as syndicates and create fake entities on the basis of forged documents to claim input tax credit (ITC), tax officers have started using data analytics, artifical intelligence and machine learning aiming to curb evasion, which was over Rs 3 lakh crore since inception of GST. It was over Rs 1 lakh crore in 2022-23. Thinktank Global Trade Research Initiative (GTRI) said the most critical pending GST reform is upgradation of GST Network to prevent fake supplies and fraudulent claims of Input Tax Credit (ITC).
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
The Union Budget 2021-22 has made it easier for sovereign wealth funds and pension funds to invest in Indian infrastructure projects, but some of the new rules may need more clarity, experts said. The proposed regime requiring investments through holding companies may have adverse tax implications for such funds and may create an arbitrage between the new and old projects, they said. Besides, the ownership structure of holding companies through which investments are to be made requires further clarification, they added.
Your financial goals are of utmost importance and the tax saving is an added incentive, advises Dwaipayan Bose.
'Filing a nil ITR serves as a formal declaration to the tax authorities that your earnings fell below the taxable threshold in the given financial year, and you had no tax liability during that period.'
'It is requested that listed equity shares or units of equity-oriented fund schemes be exempted from capital gains tax (LTCG) if equity shares or mutual funds units are held for at least three years.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
It accounted for over a third of foreign direct investment flows into India between 2000 and 2015
The organisation of the Indian Premier League will largely depend on India's COVID-19 situation during that time but with the central government trying to bring in normalcy, the cash-rich league could get a five-week condensed window to go ahead.
Giving some relief to tax payers, Finance Minister Pranab Mukherjee on Friday proposed raising the income tax exemption limit for individuals to Rs 2 lakh per annum from Rs 1.80 lakh.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Individuals often postpone tax planning till the end of the financial year. As the deadline for showing proof of investments draws near, they invest randomly in any product that will help them save tax for that year. Later, they realise that it is not suited for them, so they abandon it. Tax planning should not be a standalone, one-off activity, but should be in sync with your overall financial plan, says Sanjay Kumar Singh.
Finance Minister Pranab Mukherjee presented the Union Budget for 2012-13 on Friday.
Many senior citizens fail to disclose certain incomes like interest, commissions, or dividends in their ITRs.
Exemption of custom duty on coal would help Chlor Alkali companies to lower their power cost wherever they have captive power generation based on coal.
A taxpayer paying rent to his/her spouse is entitled to claim HRA benefit under relevant sections and within prescribed limits.
Commerce ministry suggests easy conditions for availing capital gains tax exemptions
Did you know that you can get a tax benefit of up to Rs 50,000 under a health insurance policy?
Did you know that the Government of India has granted certain tax exemptions to start-ups for a prescribed period?
Finance minister Arun Jaitley's maiden budget has put more money into the hands of the salaried. Would you like to share how you are going to make use of that money?
The working class people will stand to benefit by up to Rs 44,000 a year in income tax following the changes proposed by the finance minister in the Union Budget for 2008-09, which also provides for a minimum benefit of Rs 4,000.
Employees of around 150 firms may lose out on PF benefits as their companies failed to get an exemption certificate from the Employees' Provident Fund Organisation (EPFO)
Here are the key elements of Budget 2009-10.
The Tax Administration Reform Commission submitted report to Jaitley in June 2014.
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