Tax and financial planning expert Mahesh Padmanabhan advises that it makes sense to prepay your home loan if you have surplus funds.
CBDT circular issued last month had raised multiple taxation concerns.
In a pre-budget meeting with Finance Minister Arun Jaitley, the experts suggested timely implementation of the BJP's election manifesto promises to fix higher support prices. They also favoured a Kissan TV channel, an efficient procurement policy, priority for farm mechanisation and the linking of rivers.
Is your company using your cost to company, CTC, to make you pay the fringe benefit tax, FBT, on your stock options, ESOPs?
His value lifestyle brand Zudio signals a coming of age of retail in small town India.
Assembly elections coming up in November and December could offer a window of opportunity to the government to make GST attractive through rate cuts.
In an hour-long chat on rediff.com on Friday, financial planning expertTrideep Choudhary offered some valuable investment tips.
Domestic I-T laws require you to deduct tax on software, e-books and music albums; must report every such transactions while filing returns.
Welcoming the latest round of stimulus announced by Finance Minister Nirmala Sitharaman on Thursday, experts said the measures will support the economic recovery boosting demand, job creation and by providing funds to the MSME and stressed sectors. The fiscal impact of the stimulus is likely to be around 0.25-0.6 per cent of GDP in the current fiscal, they said.
From July 1, retail investors can offer stocks through exchanges for de-listing, buyback and open offers
There are judicial precedents where it has been held that if payment is made for temporary disablement, it would be taxable, points out Tinesh Bhasin.
The appointment, expected shortly, will come in the backdrop of tax expert Parthasarathy Shome recently resigning from the post of adviser to Finance Minister P Chidambaram.
The finance ministry is likely to raise the exemption limit for service tax from Rs 400,000 to Rs 10 lakh (Rs 1 million) in the forthcoming Budget.
The committee has been asked 'to study and identify the provisions.
India Inc is staring at significantly higher compliance and governance costs, following the Securities and Exchange Board of India's (Sebi's) latest tightening of disclosure norms and regulations around the filling of key positions, the materiality of information, and third-party transfers. Recently, the securities market regulator amended the Listing Obligations and Disclosure Requirements (LODR) to introduce a raft of changes that will affect how listed companies go about transparency and disclosures. The new framework will further empower public shareholders and soon move towards a 'comply or be penalised regime or comply or explain' in the case of high-value debt-listed entities.
Finance Minister Ishaq Dar, who presented the budget in the National Assembly, the lower house of parliament, said the government will target a growth rate of 3.5 per cent in the coming fiscal year.
Despite a temporary relief, foreign investors still see the sword of double-taxation hanging above their hard earned returns.
The duty hike on cigarettes by 16 per cent announced in the Union Budget 2023-24 would have a nominal impact of around 7-12 paise per stick across cigarette categories, according to experts. This upward revision in National Calamity Contingent Duty (NCCD) would have negligible impact on smokers and the companies could easily absorb the shock as it may not also have any resultant impact on margins, they said. Finance Minister Nirmala Sitharama in the Union Budget for 2023-24 on Wednesday proposed to revise and increase the duty on cigarettes to about 16 per cent.
The gap between the highs and the lows in April for the benchmark S&P BSE Sensex was just 4.1 per cent - the narrowest since July 2021 and nearly half its three-year average. The absence of major positive triggers, sectoral rotation, and cautiousness due to earnings and economic uncertainty have kept a tight leash on the markets, observe experts. Remarkably enough, during the 17 trading sessions in April, the Sensex didn't even log an advance or a decline of more than 1 per cent.
The crucial hearing on the PILs by a bench headed by Chief Justice D Y Chandrachud assumes significance in the wake of recent developments in which the Centre agreed to the apex court's proposal to set up a committee, likely to be headed by a former Supreme Court judge, to look into the regulatory regimes.
Analysts warn that complying with the new standards will be a cumbersome process for companies, particularly smaller ones.
The income tax department keeps track of taxpayers through extensively connected data sharing arrangements and data mining systems. If you don't pay your taxes, you can easily get caught.
A government report revealed that fake companies floated with fake addresses, issued fake GST invoices and generated fake e-way bills, with fake vehicle registration details without supplying any goods causing huge loss to the exchequer.
A fresh PIL was filed on Thursday in the Supreme Court seeking a probe by multiple central government agencies under the supervision of a panel or a former apex court judge against the Adani Group of companies following allegations of fraud and share price manipulation made by the US-based Hindenburg Research.
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'.
Change in performance appraisal system will deter corruption and motivate officers to pass correct orders.
Tax expert Mahesh Padmanabhan on how employees can use fringe benefits in their salary to help save tax.
India has received the fourth set of Swiss bank account details of its nationals and organisations as part of an annual automatic information exchange under which Switzerland has shared particulars of nearly 34 lakh financial accounts with 101 countries.
GAAR will not override the recently revised double taxation avoidance agreements with Mauritius and Singapore.
As per reports, the ATO raised the tax bill after Pankaj Oswal transferred his shares in Burrup Fertiliser, a company started by him, to his wife in 2007.
The fund offers deduction under Sec. 80C and the minimum lock-in period would be three years as in any other ELSS.
rediffGURU Kanchan Rai, relationships expert, mind coach and founder of Let Us Talk Foundation, urges you to talk about your problems so you can seek solutions and also transform your life.
'To achieve a corpus of Rs 10 crores in the coming years, I would suggest you increase your SIP, advises Nikunj Saraf, vice president, Choice Wealth.
Sources had said in a meeting last month, the empowered group of ministers on food, headed by finance Minister Pranab Mukherjee, had recommended that the import duty on rice be scrapped.
Fast-moving consumer goods companies have begun assessing the impact of the rate structure declared on Thursday under the goods and services tax.
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