Institutional shareholders of Reliance Industries Limited (RIL) are expecting big-ticket announcements from the company, including timeline for listing of its telecom and retail subsidiaries. They expect this to unlock value in the company, which has seen a sharp fall in market valuation on Friday. This is due to windfall tax imposed by the Centre on refiners and oil producers.
'That is the one headline the world is reading about India this week, and it is a potentially damaging story...' 'I don't think a panic mentality has set in, but this story is one that investors and market watchers are absolutely seized with.'
The forthcoming budget is an excellent opportunity for the Government to fulfill its promise of high economic growth.
Sectors throw up a wishlist for the Finance Minister.
'Is taxable amount above 1 Lac is also to be shown as income from other sources?'
But do not expect the finance minister to fulfil all these wishes
If one compares returns, the two public-sector ETFs have done better over the past year, but the ELSS category has done better over the trailing three and five years.
On maturity, 40 per cent of the accumulated corpus can be withdrawn tax-free.
If an ITR is not filed or the tax due is not paid on the deceased person's behalf, there can be penal consequences.
Revised tax forms will be simple; stress on foreign travel and assets has been reduced
However, BJP has not given any assurance of support and conveyed to the Finance Minister that the matter will be discussed within the party and take a call, sources said.
A key demand is to reduce the dividend distribution tax on listed firms.
FM says, he will not tax the middle class.
It is best to invest long-term surplus in stocks or equity mutual funds.
Globally, just 8 billionaires have same amount of wealth as the poorest 50% of the world population.
With filing possible only online, there is no scope for any error.
This means taxpayers might continue to enjoy exemption on maturity of their investments
An Aadhaar card can fast-track the KYC procedure for some instruments.
'Tenants who pay rent above the threshold limit must be extra cautious about TDS fillings.'
Returns for income earned till FY12-13 can be filed till March 31.
In an interaction with Jash Kriplani, A Balasubramanian, managing director and chief executive officer, Aditya Birla Sun Life Asset Management Company, shares his optimism on what makes him believe that these cuts can help in addressing multiple issues plaguing the economy, without letting fiscal deficit pose any major risk.
The market players were expecting that if long-term gains are taxed, the STT would go. But this has not happened, says Debashis Basu.
Finance Minister Nirmala Sitharaman on Friday hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Ensure the employer has all relevant documents. Else, your pay will take a serious hit in the next two months.
New government should consider reforming taxation rules.
GST on 17 items used by middle class viz Paints, Refrigerators, washing machines, vacuum cleaners, storage water heaters, TVs up to 68 cm was reduced from 28 to 18 per cent.
Our income tax department should bring out monthly bulletin as well as annual reports providing insights into the nature of our direct tax segments, points out R Vaidyanathan.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Even if you don't come in the filing bracket, it is the only way to claim refunds, get visa to some countries.
Stock exchanges have increased scrutiny of investors domiciled in Sikkim, following reports of illegal routing of investments through the Northeast state to evade taxes. The National Stock Exchange (NSE) has directed its trading members (brokers) to re-verify and certify investors who have declared their permanent address as Sikkim. Further, brokers have been told to maintain a vigil on the location of devices used by Sikkim-based clients for trading to ensure these are genuine investors from the region.
A quick snapshot about the fundamentals of the concept of life insurance.
The government on Thursday extended the due date of filing income tax returns for 2020-21 for individuals by two months till September 30. The Central Board of Direct Taxes (CBDT) has also extended the ITR filing deadline for companies by a month till November 30. As per the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms the deadline to file ITR is July 31. The deadline for taxpayers, like companies or firms, whose accounts are required to be audited is October 31.
Pensioners, India Inc may get tax breaks in Budget
While prices sustaining lower levels is crucial, Govt actions are also a key monitorable given the forthcoming elections in 2024.
'The tax avoidance in India is done as much by the wealthy as the lower class.' 'There is no difference in ethics and culture and morality, and no difference in tax-paying behaviour between various Indian classes, whether educated or not,' says Aakar Patel.
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The Direct Taxes Code bill was introduced in Lok Sabha in 2010 and Standing Committee on Finance has given a report after its scrutiny.
Expectations are that the government will use the Union Budget to create an environment, which is conducive for growth.
Court cases likely over interpretation of the new levy proposed in the Budget for digital economy.
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