Have you planned to file your income tax return? But, did you check Form 26AS before tax filing? If you haven't verified it, you could be looking at trouble
Aim is to boost sales volumes and increase penetration.
No violation of rules or regulations were found in the transfer of land by businessman Robert Vadra's Skylight Hospitality to realty major DLF, the Haryana government has told the Punjab and Haryana high court in Chandigarh.
Sahara Chief Subrata Roy, who has been in jail for the last four months, on Thursday pleaded before the Supreme Court to allow him parole for at least 40 days to sell his properties to raise Rs 10,000 crore to get bail and expressed his willingness to dispose of luxury hotels in New York and London.
'Who sent Masood Azhar back to Pakistan? Who bowed down to terror and released him? Not the Congress, but it was the BJP government'
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
FBT was an unpopular tax and withdrawn before the General Elections in 2009
What is confusing for many investors though is the tax structure on these real estate transactions. Here, we will explore the tax liability on such transactions, also known as capital gain (or loss depending on whether the investor made money on the transaction).
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
Replying to the debate on the Finance Bill in Lok Sabha, the minister said he did not propose any change in the tax rate but only provided few rebates which will boost spending and help the economy.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
A N Shanbhag, the highly respected investment guru, and his son Sandeep Shanbhag, answer your questions on NRI investment.
'For the first month, we have only had 5.5 million who have paid the tax.' '40 per cent have paid nil as tax; 95 per cent of the taxation for the first two months has come from only 400,000 assessees.' 'So even now, the tax-paying habit, of paying a marginal or negligible amount, or not paying anything at all, is quite prevalent,' reveals Finance Minister Arun Jaitley.
A primer on tax you pay on your mutual fund gains
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
Undisclosed overseas assets such as immovable property, jewellery, shares and art works will be valued at fair market price for the purpose of tax and penalty under the new black money law.
A husband-wife team with incomes from two separate jobs can take advantage of the tax laws by buying a residence through a home loan.
Most buyers are forced to back off in the face of delays because of the appreciation of the property.
"Is this a case for NSA?," the bench asked the state's counsel while observing that this is why allegations of political vendetta crops up.
Section 54 EC, if availed properly can bring several benefits for the taxpayer.
I-T department raises tax demand on them for unpaid tax deducted at source
The rental income for a house and the capital gains from the possible sale of a house come under the "income from other sources"
Here's a ready reckoner on how to calculate your tax dues so that you can plan your investments accordingly.
Have a query regarding tax planning or tax filing? Maybe we can help. Drop us a line and our expert, Anil Rego of Right Horizons, will answer it. Got a question for Anil Rego? Please write to us at getahead@rediff.co.in with the subject line as 'Tax query'.
If an assessee misses the December 31 deadline, s/he can file a belated tax return by paying a late filing fee. 'This must be done within three months from the original filing date.'
The Budget proposal for additional home loan deduction will have little impact on the market.
It is best to invest long-term surplus in stocks or equity mutual funds.
Tax expert Mahesh Padmanabhan on how employees can use fringe benefits in their salary to help save tax.
Let us evaluate various possible situations an individual can find himself in and understand what the Income Tax Act permits him to do.
Total disputed liability of Mallya with respect to service tax to the tune of Rs 535 cr
A hotel in 1975, entry into paperboards in 1979, India's dominant cigarette maker, ITC, read the tea - or tobacco - leaves early, leveraged its enterprise strengths and stepped up the diversification agenda to create multiple drivers of growth. Some failed, some faltered, some were transformational, adding steadily to the top line. Now those efforts are making a difference: margins from non-cigarettes - FMCG, hotels, agri, paperboards, paper and packaging - are expanding and profits are kicking in more significantly than ever before.
Xi does not want to risk any political or economic crisis complicating his bid to remain in office, observes Ambassador Shyam Saran, the former foreign secretary.
Now, more pieces of information about your transactions and income, such as remittances received from overseas, will be uploaded in Form 26AS by the income-tax (I-T) department. This will help the taxpayer file I-T return (ITR) correctly and assist the department in detecting discrepancies, if any, in the ITR. Besides foreign remittances, these new items are interest on I-T refund, dividend from mutual funds (MFs), and purchase of MFs, among others.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Mahesh Padmanabhan of RelaxWithTax has the answers to your tax related queries.
The finance ministry has said that the Goods and Services Tax will not apply on room rents of 'sarais' (inns) or properties managed by religious and charitable institutions. The clarification was issued by the Central Board of Indirect Taxes and Customs (CBIC) on Thursday evening to clear the confusion with regard to the levy of GST on room rents. This clarification by the Finance Ministry came following a demand from various quarters including AAP MP Raghav Chadha that the GST on rooms rented by religious institutions be withdrawn.
Several nations have in the past borne the brunt of mounting debt arising from organising mega events like the Olympics.
Pharma body wants all excisable goods used for R&D purposes should be exempted from central excise duty.
Banks enjoyed an expansion in Net Interest Margins (or NIMs) as well as in credit demand through the 2022-23 financial year (FY23). The credit expansion was because economic growth continued to recover from the Covid-19 years, and indeed, second half GDP growth surprised on the upside. The NIM expansion was because banks raised lending rates immediately (in many cases automatically due to floaters) as the Reserve Bank of India (RBI) hiked policy rates, and only started raising deposit rates late into the fiscal.
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