With real estate -- NRIs's favourite investment vehicle in the past -- unlikely to do well in the near future, there is a strong case for NRIs to shift to equity and debt mutual funds, says Prateek Mehta.
In a most perverse example of tax bullying, someone I know has got by three such notices reopening his assessment minutes before the midnight deadline of June 30, reveals Debashis Basu.
'Extensive thought has been put in, and we have pondered over each and every suggestions and demands received from our members.'
The November 3 presidential poll is an "election of a lifetime" for it being held amid a pandemic and seeing the "highest participation" of India-Americans, according to eminent community leader Swadesh Chatterjee.
Investor wealth shrunk due to markets crashing on Wednesday.
'It is less dependent on imported capital.'
Indian tax laws are a source of frustration for US companies, says US Ambassador to India Nancy J Powell.
Finance Ministry, Assocham on Tuesday sought a taxation friendly environment for the startups
Experts pointed out the move will only help taxpayers temporarily, as the tax liability remained the same and the date for advance tax has not been extended.
'Although Hong Kong weathered many a storm and displayed a remarkable resilience to bounce back, the developments in the territory have raised question marks with regard to its future stability and prosperity.' A revealing excerpt from Rup Narayan Das's Hong Kong Conundrum: Pangs of Transition.
'All of us have believed in decentralisation. You may not like property taxation, neither do I. My solution is that the Centre does the tax collection, but we can give a matching grant instead of redistribution,' says the outgoing CEA, Arvind Subramanian.
While the PM sees zero tax on long-term capital gains and dividend income as unfair since the beneficiaries are not poor, he is silent on the fact that rich farmers too don't pay taxes, since farm income is tax-free, a loophole exploited by many netas and babus, says Debashis Basu.
The government appears serious about its intent to do away with the sore points in the taxation laws.
The Centre's retreat from the farm laws is likely to have a significant bearing on the fate of laws that the Centre has made, for instance, in labour and electricity, predicts A K Bhattacharya.
A phased roll-out of prohibition will hit revenues of companies, which get 5% of their volume sales from the state
Courts in five countries including the US and the UK have given recognition to an arbitration award that asked India to return $1.4 billion to Cairn Energy plc - a step that now opens the possibility of the British firm seizing Indian assets in those countries if New Delhi does not pay, sources said. Cairn Energy had moved courts in nine countries to enforce its $1.4 billion arbitral award against India, which the company won after a dispute with the country's revenue authority over a retroactively applied capital gains tax. Of these, the December 21 award from a three-member tribunal at the Permanent Court of Arbitration in the Netherlands has been recognised and confirmed by courts in the US, the UK, Netherlands, Canada and France, three people with knowledge of the matter said.
Can the finance minister manage our expectations, asks A K Bhattacharya.
The Central government is stuck between the devil and the deep blue sea as far as the runaway fuel prices are concerned.
Expect a more modest out-turn of around 5 per cent (if not less) because of the longer-term scarring effects of the Covid shock, the sharply slowing growth in the pre-Covid years and some scepticism about the growth-efficacy of some of recent official policy initiatives, explains Shankar Acharya, former chief economic advisor to the government.
In several areas, the Indian government has put out a model law.
'India is still hierarchical, but not as much as Japan and people appreciate a flat working culture,' Charles Frump, managing director, Volvo Cars India, tells Pavan Lall.
More than Rs 2 lakh crore was wiped off from the overall investor wealth
The political-electoral calculus favours spending thousands of crores on vanity projects like Sardar Patel's statue and the Central Vista over building up our military to handle the confrontations and conflicts that loom large, points out Ajai Shukla.
'But can it afford to present a scenario within the existing legal framework of fiscal consolidation?', asks A K Bhattacharya.
'Many of the challenges of investing in commercial real estate get taken care of when an investor takes the Reit route,' points out Suraj Nangia.
The brokerage reduced its target price for the company to Rs 995 per share from Rs 1,350 apiece. Credit Suisse said RIL's liabilities increased from $19 billion to $65 billion in four years.
IMF Chief Economist Gita Gopinath also said the pickup in global growth for 2020 remains highly uncertain as it relies on improved growth outcomes for stressed economies like Argentina, Iran, and Turkey and for under-performing emerging and developing economies such as Brazil, India, and Mexico.
Capital gains exemption benefits are available under Section 54 and 54F of the Income Tax Act. Individuals, however, need to be aware of the conditions attached to these provisions, suggests Archit Gupta, founder and CEO, ClearTax.
Finance Minister P T R Palanivel Thiagarajan has proclaimed his determination to set Tamil Nadu's fiscal house in order in five years, and Friday will show how he plans to go about it when he rises to present the Stalin government's maiden budget, says N Sathiya Moorthy.
Foreign companies see a "lot of turnaround" in India and a "lot of positive attitude" is building towards it, says CII.
The Budget has changed the rules for Indian citizens and persons of Indian origin visiting India. Instead of 182 days, the number of days has been reduced to 120. You will be treated as a resident of India for tax purposes if you stay in the country for more than 120 days in a financial year and 365 days in the past four years. One consequence of the change will be that people of Indian origin who reside outside India will be able to spend a smaller number of days in the country if they wish to keep their non-resident status intact, points out Sanjay Kumar Singh.
The US launched an investigation, focusing on whether the tax in India and other countries discriminated against American companies, were retroactive, and reflected unreasonable tax policy.
The object of the government policy cannot be such that luxury items become cheaper, pointed out Jaitley.
To shed more light on how GST will affect the individual as well as the nation, Rediff Chat has lined up experts to field your queries.
Joshi said the Congress is 'led by an infiltrator' and is targeting Modi who hails from a humble family and is a popular leader.
'People know if inflation is not within the tolerance band, then action will be taken so they do not expect inflation to rise above that.'
As much as Rs 8,000 crore worth of mobile phones in this segment - out of a total of Rs 15,000 crore - come into the country through the grey market. The government imposed the duty on these phones primarily to encourage domestic production but the strategy has failed as the bulk of high end mobile phones are currently imported.
Tax must be paid by the assessee failure of which will invite interest and penalties.
A new study shows that the bottom half of the population enjoyed only 15 per cent of national income in 2013-14, down sharply from 24 per cent in the early 1980s.
