The 40 per cent exemption benefit is applicable only for employees.
In order to cripple and check the activities of wilful tax defaulters, the Income Tax department has decided to "block" Permanent Account Number (PAN) of such entities, get their LPG subsidy cancelled and take measures to ensure that they are not sanctioned loans.
Finance Act, 2007, has, with effect from June 1, brought seven new services in the service tax net
Trump appeared to be unperturbed by the latest revelation that he might not have had paid income taxes for as many as 18 years.
Real estate, or property, is one of the one of the major asset classes people the world over invest in. Such real estate could be residential house property, whether self-occupied or let out, commercial property, whether used for one's own business or profession or meant for letting out, farm house, agricultural, urban and rural lands, and so on. Through proper planning it is possible to save a great deal of tax on real estate investments -- on income and on capital gains.
Introducing UCC is a challenging task for any government. The complexities are real and difficult to negotiate as it deals with sensitive religious and cultural sentiments. How can it strike an easy balance between individual rights and community interests?, asks Ramesh Menon.
The Institute of Chartered Accountants of India has shortlisted the changes it hopes to see in Budget 2017.
'You need to have enough funds to maintain the primacy of public transport and it should not suffer because of lack of funds.'
It seems property in Pune have a better rate of capital value appreciation than other metro cities.
Tata Sons has moved the Supreme Court against an estimated Rs 300-crore (Rs 3-billion) sales tax demand from the Maharashtra state government.
The sector has sought a mandatory natural catastrophe cover to cover perils in calamity-prone areas.
In his second term in office, UP Chief Minister Yogi Adityanath has retained 34 portfolios.
To further tighten its control of practising accountants, the Centre has brought within the ambit of the Prevention of Money Laundering Act (PMLA) their "financial transactions" such as operating and managing their client firms and trusts, and buying and selling business entities. The Union finance ministry issued a gazette notification on this on Wednesday. Under the new rule, chartered accountants, company secretaries, and cost and works accountants carrying out such transactions (on behalf of their clients) will now be required to go through the Know Your Company (KYC) process before commencing work.
Alleging that the Centre is abusing the Central agencies to pressure the tripartite Maha Vikas Aghadi (MVA) government, NCP spokesperson Nawab Malik said the ruling dispensation and every individual associated will slug it out without any fear.
The Delhi high court on Wednesday asked the Centre and the Delhi government to present their stand on a plea seeking recall of all currency notes above Rs 100, restricting cash transactions above Rs 10,000 and linking assets worth more than Rs 50,000 with Aadhaar to check corruption.
It is high time the Indian government signalled discomfort with the UK providing refuge to those accused of financial crimes in India, states Jaimini Bhagwati.
The total worth of Assam Chief Minister Sarbananda Sonowal's assets, both movable and immovable, have increased by over 71 per cent since the last assembly polls in 2016, despite not having bought any new immovable assets.
These situations require mandatory filing of Income Tax Return as per the provisions of the Income Tax Act, 1961
May adopt dtrict action including prosecution and property attachment.
The crackdown on black money has led to seizing of Rs 3,963 crore of smuggled goods in two years.
Your decision to invest in capital gains bonds or otherwise should be determined by your risk appetite and investment objective among others.
The complaint against CM's son Vaibhav Gehlot and a man described as the younger Gehlot's business associate seeks action under the Prevention of Money Laundering Act.
Aaditya, son of Shiv Sena president and Chief Minister Uddhav Thackeray, dubbed the searches by the I-T department on Kanal as 'invasion by Delhi' ahead of Brihanmumbai Municipal Corporation (BMC) elections.
The raids were conducted on Wednesday evening to Thursday morning, he said. There was no objection to the raids by Hossain, a two-time TMC MLA and a businessman.
Seven more services such as commercial property renting, fax, pager and content for telecom will become costlier from June 1 with the government bringing these services under the tax net.
Capital gains exemption limit and a steep reduction in the highest surcharge will empower the masses with enhanced liquidity flow that can be invested in real estate, points out Dhaval Ajmera.
Property worth Rs 144 crore, which includes 25 flats and a shopping mall, has been attached in connection with the disproportionate assets case against the alleged associates of former Jharkhand Chief Minister Madhu Koda.
The uproar against outsourcing work to Indian IT service providers has risen once again as Nielsen Co, the media company which signed a $1.2-billion outsourcing deal with Indian IT services provider Tata Consultancy Services last October and is facing strong criticism for announcing it, would lay off 117 workers this month at its largest global technology centre in Oldsmar, Florida. It has 1,700 employees at this facility.
Japan's Sumitomo Realty & Development Company will buy a 22-acre land parcel in central Mumbai from Bombay Dyeing for Rs 5,200 crore, the Wadias-run company said on Wednesday. The sale of the land parcel in Worli is one of the biggest land sale transactions in the history of the financial capital.
He is the man behind Blackstone's India strategy
All ministers in the Narendra Modi government will have to submit details of their assets, liabilities and business interests to the prime minister within two months.
At that time, nobody would have thought a construction period of three to four years would be grossly inadequate
We take the opportunity to bust a few myths
The high court said prima facie charges of rioting and unlawful assembly are made out against nine of the 11 accused, including Imam, Tanha and Zargar.
Section 54EC bonds give positive returns, despite a lock-in and tax on interest income.
DIAL is a joint venture consortium of GMR Group, Airports Authority of India, Fraport and Malaysia Airports Holdings Berhad.
Archit Gupta on how can you maximise your savings and reduce your taxable income.
Apart from the 18 members of the ruling National Democratic Alliance (NDA), including the Bharatiya Janata Party, seven non-National Democratic Alliance parties will attend the ceremony, going by their stated position on the issue which has snowballed into another political flashpoint between the ruling and opposition camps.
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