The time is ripe for debate on city governments in India.
The taxmen provisionally sent orders to attach their properties in Mumbai, New Delhi, Pune, Goa and also over two dozen land parcels across the state with a combined market value of around Rs 1,400 crore
'We have not issued notices randomly.' 'We have done the risk profiling of individuals, and sent to those whose profile has not matched with their declared income.'
Due date is closing in and taxpayers shall pay tax and file their return well in time to avoid any interest or penalties.
Yes, if you are planning to apply for a loan or want to claim refund
'People try to repay the BIGGEST LOAN first. Actually, you should repay the most expensive loan first.'
The parents of Brazil forward Neymar have denied any wrongdoing after a judge froze 188.8 million reais ($47.6 million) of the player's assets in a tax evasion case.
If you have bought a home along with your family members as co-owners then can they avail of the tax benefit on interest paid? Tax expert Mahesh Padmanabhan answered tax related queries in a chat with Getahead readers on January 9.
Vodafone pleaded in High Court that IT department had no jurisdiction in the transfer pricing case because the said transaction was not international and did not attract tax.
The government on Tuesday confirmed that a French court has ordered the freezing of certain Indian assets in Paris on a petition by Britain's Cairn Energy, which is seeking to recover $1.72 billion from New Delhi after winning an arbitration against retro tax. Minister of State for Finance Pankaj Chaudhary in a written reply to a question in the Rajya Sabha said the government has filed an appeal against an international arbitration tribunal overturning levy of Rs 10,247 crore in back taxes on Cairn Energy. "Yes sir, an order has been passed by a French Court freezing certain Indian government properties in the case pertaining to Cairn Energy," he said.
Not doing so might mean a penalty, not being able to revise returns or carry forward losses and forfeiture of interest on refund
A large number of rich farmers, who earn more than salaried employees in the cities, get away with paying no tax at all in view of the government's lack of will to consider an agricultural income tax
The GST will alter the very face of fiscal federalism in India.
The Enforcement Directorate (ED) on Tuesday raided a dozen locations including the head office of the Congress party-owned National Herald newspaper in New Delhi as part of an ongoing money laundering probe, officials said.
While you can land a very good bargain in an auction at times, you might need to deal with illegal occupants and dues on the property
Income tax collections recorded a whopping 54 per cent growth at Rs 12,498 crore (Rs 124.98 billion) in the first quarter of this fiscal
Get Ahead Tax expert Mahesh Padmanabhan on short term and long term capital gain tax issues arising out of selling your old home and buying a new home.
'This move rendered the chiefs of important investigative agencies to the status of daily wage earners. It undermined the autonomy and independence of the agencies.'
In view of the prime minister's visit, a few roads in the area will be closed for vehicles, while traffic will be diverted on some other routes, the traffic police said.
'Why does a State that sees a national security issue at every turn not recognise the seriousness of the data from sensitive databases being breached?'
The prosecutor general's office said Benfica Vice President Fernando Tavares was also a suspect in the case, along with a high-ranking judge and nine other people, five of whom were detained in a police operation on Tuesday.
Ambani is in good company. The likes of ultra-rich individuals like hedge fund billionaire Ray Dalio and co-founder of Google Sergey Brin have chosen Singapore to establish their family offices. So have British inventor James Dyson, famous for his bladeless fans and hair dryers and vacuum cleaners, and Zhang Yong, founder of China's Haidilao hotpot restaurant chain, reports Lee Kah Whye.
The IT department had issued a tax assessment order in December 2011 asking Vodafone to add Rs 8,500 crore (Rs 85 billion) to its taxable income, thus raising the tax liability of the company.
'Tenants who pay rent above the threshold limit must be extra cautious about TDS fillings.'
The Madras high court on Wednesday set aside an order of the previous AIADMK regime to convert late Tamil Nadu Chief Minister J Jayalalithaa's residence, 'Veda Nilayam' in Chennai as a memorial.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The Budget proposal will help startups with better incubation, talent and capital
Finance Minister P T R Palanivel Thiagarajan has proclaimed his determination to set Tamil Nadu's fiscal house in order in five years, and Friday will show how he plans to go about it when he rises to present the Stalin government's maiden budget, says N Sathiya Moorthy.
'If you miss the deadline, you can still file a belated tax return till March 31, 2021, with a fee under Section 234F, which could be up to Rs 10,000, in addition to an interest under Section 234A and 234B of the Act.'
If you are a salaried person, you will be filing your returns using the new income tax return form, ITR. Do you think the ITR is simpler than Saral? Or are there drawbacks in the new ITRs? Tell us.
Free 35 kg rice a month, free power supply to farmers, crop loans to peasants at zero per cent interest rate are among the sops promised by Congress in its manifesto for Chhattisgarh assembly elections scheduled this month.
If India is to urbanise successfully, it has to focus on Tier 2 cities with a population of one-five million, observes T N Ninan.
The raids that were launched at 22 premises of the group and the brokers on September 28 are underway, the statement by the Central Board of Direct Taxes said.
Thousands of agitators took part in the rally, during which violence between tribals and non-tribals was reported in Torbung area, a senior police officer said.
Cap on bank withdrawals to be reviewed after Dec 30, says finance secy.
India's existing web of federal and state sales taxes is levied at different stages of the supply chain and often results in double taxation, while forcing trucks to spend nearly a quarter of their road time in border checks or other inspections.
Foreign portfolio investors (FPIs) are likely to seek from the finance ministry a six-month extension of the date for complying with the amendments to the Prevention of Money-Laundering Act (PMLA), citing implementation challenges. Sources said FPIs, through their custodians, were planning to approach the ministry, highlighting key concerns and seeking more clarification. The ministry, through a notification on March 7, lowered the threshold for reporting ultimate beneficial ownership (UBO) for non-profit organisations and politically exposed persons to 10 per cent from 25 per cent.
The department has calculated and arrived at the figure and may raise two separate demands.
The searches at the Tamil television channel were conducted over alleged tax evasion.
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