'The government believes there is still significant scope to bring more people under the tax net and collect the right amount of taxes, in cases where taxpayers are underpaying,' says Kuldip Kumar, partner and leader personal tax, PwC.
A whirlwind trip of the dark underbelly of global finance, covering everything from tax law changes to aiding criminals to decamp with money from bank accounts.
Trump paid an effective tax rate of 24 per cent and saved millions of dollars in additional taxes by claiming the losses, according to the document, the first two pages of which were obtained by Pulitzer Prize-winning journalist David Cay Johnston and first shared on "The Rachel Maddow Show.
In the five years in politics Priyanka Gandhi has undeniably emerged as a thorn in the BJP flesh, notes Nilanjan Mukhopadhyay. It is time that this thorn is twisted a wee bit more when the elections have become far more uncertain than what it was when the Election Commission announced the poll schedule.
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
The limit under the Liberalized Remittance Scheme (that was earlier $200,000 and now brought down to $75,000) is applicable per person per financial year.
Employees who benefit from rent-free accommodation should pay heed to these new regulations, especially if they are in the higher salary brackets.
'There are no new benefits for senior citizens, but on the other hand senior citizens having sizeable dividend income may have to suffer tax at applicable slab rates,' says Mahesh Padmanabhan.
Tax expert Anil Rego answers readers' questions about how Finance Minister Piyush Goyal's Budget affects you.
New ITR forms indirectly force small businesses to maintain books of accounts, something that wasn't needed earlier, says Anupam Jain.
What are the tax implications when you invest in real estate or any immovable property? Read on to find out.
The new provision under the Income-Tax Act may enable the authorities to seize trustees' personal assets if there's a breach of objectives governing registered charitable trusts.
Various start-ups have raised concerns on notices sent to them under the Section 56 of Income Tax Act to pay taxes on angel funds received by them.
Real estate major DLF has come under the scanner of central revenue officials for allegedly evading service tax to the tune of about Rs 30 crore.
In a recent note, the global brokerage firm said India now commands a weight of 19 per cent in the above-mentioned portfolio as compared to 18.2 per cent in September 2023. India, it said, is a large liquid market and remains a counter-weight to North Asia if a slowdown in the West occurs and China's recovery disappoints.
UK fashion retailer Superdry on Wednesday said it will sell its intellectual property assets in South Asia to Reliance Retail for 40 million pounds (Rs 402 crore) through a joint venture. Superdry, whose fashion line mostly includes sweatshirts, hoodies and jackets, will own 24 per cent of the joint venture while Reliance Retail, India's largest retailer, will have the remaining 76 per cent. Under the agreement, Superdry's brand IP assets in South Asia will be permanently transferred to the new JV entity.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Do you know how the fringe benefit tax is calculated on your ESOPs? Get Ahead tax experts Mahesh Padmanabhan explains.
Because they can easily find them out by analysing your financial transactions.
The International Financial Services Centres Authority (IFSCA) has proposed key exemptions to the current listing framework and measures for setting up holding companies (holdcos) and special purpose acquisition companies (SPACs) to encourage domestic startups list at GIFT City, the country's only international financial services centre (IFSC). Under the current framework, to be eligible to list on IFSC exchanges, an issuing company should have operating revenue of at least $20 million in the preceding financial year and average pre-tax profits of at least $1 million during the preceding three financial years. An expert committee has noted these conditions have acted as hurdles to listing new-age companies, and they need a relook.
Read the investor-developer agreement carefully before signing the cheque
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
These conditions are implementation of the 'One Nation, One Ration Card' scheme, ease of doing business, power sector reforms, and urban local body reforms.
The recommendation, if implemented, is likely to face opposition from the government's key support base among Hindu traders and businesspersons.
Revised tax forms will be simple; stress on foreign travel and assets has been reduced
Faced with mounting losses and unsold inventory, struggling smartphone maker BlackBerry has sold its US office in Texas to Brookfield Property Group as it seeks to rationalise costs.
The minister also announced that the low-cost housing (property up to Rs 20 lakh) segment would be exempted from service tax.
If the property is inherited from one generation to another, the person who inherits it cannot pass it on as s/he wishes, points out Rajesh Narain Gupta, managing partner, SNG & Partners.
Besides selling movable and immovable assets to make recoveries, taxmen filed prosecution cases against those not paying the demand.
When Rajiv Chawla bought his flat at Worli's Campa Cola compound 23 years ago, he didn't know it was illegal.
Section 54 provides a tax-free method to convert unaccounted money into accounted money, says Harsh Roongta.
Within five days of the budget, the RBI brought in housing loans below Rs 50 lakh under priority sector lending.
With digital technology, the I-T department's ability to catch tax evaders has increased many times.
A three-judge bench headed by Justice Sanjay Kishan Kaul was hearing the pleas seeking reconsideration of the July 27, 2022 verdict by a three-judge bench on certain parameters.
An excerpt from 'Money Smart: The Indian Woman's Guide To Managing Wealth' by Reenita Malhotra Hora and Divya Vij that reveals various options to help you save tax as well as invest for creating long-term wealth.
With a stable government at the Centre and the a renewed sense of confidence among the industry, there is expectation that there will be more demand for office space.
As under-construction properties turn riskier, due to slowing sales, a buyer needs to protect his interest in the property.
With filing possible only online, there is no scope for any error.
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