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.
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.
The Board of Control for Cricket in India, is locked in a legal battle with the Service Tax (ST) department, which has demanded an amount of Rs 536 crore (approx) as taxes on cricket board's earnings from royalty and media rights in the last one decade.
Prepare your replies with expert help, if necessary. Keep relevant documents ready to support your replies.
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a demand from various quarters including AAP MP Raghav Chadha that the GST on rooms rented by religious institutions be withdrawn.
The Income tax department to come down heavily on errant taxpayers from India Inc.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
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.
When Jabalpur resident Mahavir Ojha received Rs 80 lakhs (Rs 8 million) from selling an ancestral property, he decided to part-pay his housing loan of Rs 50 lakhs (Rs 5 million).
When you are in your 20s and early 30s, you have the biggest asset to your credit -- time. By starting to invest during the early stages of your career, you get a lot of time to research, learn, and achieve, advises Ayan Nagpal.
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The Central Board of Direct Taxes has issued new directives for selection of scrutiny cases during the financial year 2013-14 by the taxman which also includes big ticket international transactions.
If you were deputed abroad, filing income tax can be tricky.
REITs, a new investment avenue in India on the lines of one in developed markets like the US, UK, Japan.
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.
Central Board of Excise and Customs chairman V Sridhar has also said the realty sector would not attract 10 per cent service tax in effect.
If you have missed your tax filing deadline, there is not much to fret if your tax dues are fully paid, says Anil Rego
Marking a key milestone in the Indian government's fight against black money allegedly stashed abroad, India will get this month the complete information on flats, apartments and condominiums owned by Indians in Switzerland as also on earnings made from such properties to help it look into tax liabilities associated with those assets.
If not, an assessee might be charged interest for not paying TDS on time.
They want FSI to be in line with export benefits for the sale of residential properties to NRIs and foreigners.
Britain's Cairn Energy has secured a French court order to seize 20 Indian govt properties to recover arbitration award, it is learnt.
How the Aadhar card would be linked to income tax return is yet not clear
If you are scouting for a property, finalise the deal within the next seven months and benefit from this measure, suggests Bindisha Sarang.
Finance Minister Arun Jaitley is unlikely to heed economists' suggestion that an inheritance tax be introduced in Budget 201415 as an additional revenue stream.
Finance Minister Arun Jaitley is unlikely to heed economists' suggestion that an inheritance tax be introduced in Budget 201415 as an additional revenue stream.
On the face of it, there could be a bump up in tax filings, but its impact on tax collections is not that straightforward
But there are fears that any reform could be reduced to tweaking because the tax is so lucrative.
Team Anna member Arvind Kejriwal did not comply with the income tax department notice asking him to pay over Rs 9 lakh in dues, saying he needed more time to decide on the issue as he was given "very little time".
'Rhetoric and chest-thumping are running high on India's recent growth record.'
'But will the giant waves developing elsewhere allow us to sail smoothly into fair winds?' asks Debashis Basu.
Karnataka energy minister Shivkumar was in-charge of hospitality for all Congress Gujarat MLAs.
The government on Friday extended by six months till March 2022 the deadline to link PAN with biometric ID Aadhaar. In a statement, the Central Board of Direct Taxes (CBDT) said to address the hardship being faced by various stakeholders on account of the COVID-19 pandemic, the timeline has been extended which will ease compliance.
Many foreign investors have been receiving notices requesting their MAT calculations for financial year 2011-2012.
RNOR status is a sub-set of the Resident Status.
The department said that total confidentiality is ensured to those who declare their black assets and funds
'Quite a few notices have been issued in both black money and benami transactions.'
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