The new ITR forms have shifted the entire onus on the taxpayers to prove their claim for deductions, expenses or exemptions.
Croatia's state attorney is investigating Croatia international and Real Madrid midfielder Luka Modric on suspicion of giving false testimony in a criminal trial, the attorney's office said on Monday.
'The Rajapaksas have been in active politics for decades and survived many challenges, but they seem to have misread this one.'
Bettering the promise of monthly payouts to homemakers by the All India Anna Dravida Munnetra Kazhagam and the DMK, Kamal Haasan's Makkal Needhi Maiam on Friday assured Rs 3,000 "value rights assistance" to them in its manifesto for the April 6 assembly polls, but maintained it was not a dole.
In an extensive exercise to track overseas bank accounts of Indians and round-tripping of funds, top investigating agencies in the country are gathering actionable intelligence on chartered accountants, brokers, legal firms and professionals involved in these areas.
Called the US Citizenship Act of 2021, the legislation modernises the immigration system, and also proposes to eliminate the per country cap for employment-based green cards, a move that would benefit thousands of Indian IT professionals whose current wait period for legal permanent residency runs into several decades.
Rama Krishna Sangu, partner, Manohar Chowdhry & Associates, Chartered Accountants, and a member of the Indirect Tax Committee of ICAI, fielded readers' questions on GST on Rediff Chat.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
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.
He says current arrangement is working fine.
In IT, the two-way flow of investments and intellect has been central to the growing linkage, which provides a great opportunity for both nations to improve the quality of life of their citizens, says Raman Roy.
The ministry of electronics and information technology is working on creating a software product council, including members from the government, academia and industry that will work on implementing a software products mission.
'How can I pursue my dream forgoing my identity? I want to fly as a trans man.'
What do you think of these proposals? Vote at the end of each proposal!
In 2017, a consortium led by Russian state oil company Rosneft agreed to buy Essar Oil for $12.9 billion in India's biggest foreign acquisition of a homegrown company. Rosneft's buyout of Essar's assets was meant to herald a wave of energy investments in India - over six decades after Esso, Caltex and Shell invested in India's refining sector in the 1950s. But the government has tripped up in its efforts to sell Bharat Petroleum Corporation Ltd (BPCL), formerly Burmah Shell, a blue chip public sector company. Bidders include a couple of global funds and resources firm Vedanta.
The e-wallet, virtual cards are often used to play online games.
'The expectation was that Modi would become even bolder in his approach, and after only four months into his second term, we are starting to see evidence of this.'
Professional sportspeople may soon have to pay at least 10.3 per cent as tax on their match fees and money for endorsing corporate logos on their apparel and other gear.
The worst may perhaps be over for these stocks, suggests Sanjay Kumar Singh.
Taxand, founded in 2005 as the first global network of independent tax advisors to provide an alternative to the existing global players has completed two years of service.
An astrologer told Ramesh Menon that he was increasingly having worried parents asking him about the future of their children who were showing serious behavioural changes like lack of tolerance towards others, shunning social interaction, and even violent behaviour. They were worried because they had never ever seen such traits in their children before the pandemic.
2,138 firms deposited unaccounted Rs 5,000 cr in zero-balance accounts during the note ban
When an NRI returns to India, he should be aware of his tax residency status.
Interest on NRE accounts is tax-free, but the I-T department creates hurdles to tax these accounts.
The policy aims to create around 5,000 startups, including 10 global high-growth startups, and to create a minimum of 100,000 high skilled job creation, direct and indirect, in the startup ecosystem by 2023.
'As for tricky relations with China, India needs less of summitry type event management and more anticipatory analysis and management of events,' says Ambassador Jaimini Bhagwati.
The Income Tax department has begun the process to examine bank deposits and transactions to check possible black money instances and said once the last opportunity to declare funds in old notes under the PMGKY scheme ends it will be very tough for hoarders.
In an online chat with readers on July 8, Anil Rego answered their tax queries. Here's the chat transcript in case you missed the chat
Players such as Kidaara, True North, and Multiples Alternate Asset Management move outside the confines of just being a family-style financial office and become a true PE heavyweight.
Such listings will help internationalise our currency, give us economic heft, compel best in class regulations and further develop the professional-services ecosystem., says Amit Tandon.
Tamil Nadu Chief Minister M K Stalin on Thursday said he has requested Prime Minister Narendra Modi to provide additional doses of COVID-19 vaccine to the state.
Tax rules that could land you in trouble
A committee suggested that CSR expenditure be made tax deductible, in order to incentivise spending by companies. It also said that CSR should not be used as a means of resource-gap funding for government schemes.
'Imagine hanging from a thin steel cable under a helicopter with certain death staring at you below, being pulled up slowly in the din and downwash of the helicopter.' IAF Veteran Air Commodore Nitin Sathe, a helicopter pilot himself, reports on how the air force rescued those trapped in the Deoghar cable cars disaster last fortnight.
'Two consecutive quarters of negative growth are the technical definition of an economic recession, and for the first time in this generation's memory, we may be staring at one,' observes Aakar Patel.
The ED's line of questioning, officials said, is revolving around Rhea's income, investments, business and professional deals, and links.
Private equity investing can be rewarding, but an investor needs to be patient as exiting can be tricky and these assets do not provide instant liquidity.
Ernst & Young is appointed as valuer for Nokia India's Chennai mobile making plant
This will include everyone from salaried individuals to professionals and even companies.
The Central Board of Direct Taxes (CBDT) is likely to increase the exemption limit for tax deducted at source on rental income to Rs 2,00,000 a year from Rs 1,20,000 at present.
