Make sure that the person you are buying the plot from is the rightful owner.
From March 3, investors in India will be able to trade in select US stocks through the NSE International Exchange (NSE IFSC), a wholly owned subsidiary of the National Stock Exchange (NSE). Investors can invest in NSE IFSC receipts on US stocks, which will be in the form of unsponsored depository receipts (DRs). For a start, this will include DRs of 50 US stocks such as Apple, Alphabet, Amazon, Tesla, Microsoft, Morgan Stanley, Nike, P&G, Coca-Cola, and Exxon Mobil. Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalised Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI), which currently stand at $250,000 per year.
The prime minister in his intervention at the session on "global economy and global health" also flagged the issue of facilitating international travel and talked about the mechanism of mutual recognition of vaccine certification as a means of achieving this, according to the text of his intervention shared by his office.
The note guides taxman to avoid seeking voluminous details.
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
If other states follow suit, it is going to become difficult for the GST Council to decide on the next stage of reforms.
The mandatory use of the Indian flag on SCI's ships has been a bone of contention with prospective buyers, on account of the costs it will entail in terms of taxation and vessel registration.
A sharp fall in the price of Bitcoin and other cryptocurrencies is another hard blow to the already sinking cryptocurrency market in India. Global and domestic prices have been on a downward trail since November last year when Bitcoin prices hit a peak of close to $68,000 in international markets. The recent past has seen a much sharper fall in the price of the leading cryptocurrency, Bitcoin.
Vodafone's long-pending tax dispute with the government might be heading for a resolution, with the finance ministry considering changing the Income-Tax Act's retrospective amendment and taxing indirect transfer of assets prospectively from 2012, the year the law was clarified.
Tata Group-owned Air India has informed the Centre that aircraft lessors wish to set up their special purpose vehicles (SPVs) outside India since they aren't enthused about the Indian 'legal structure' and are loath to take risks. Indian airlines have a combined fleet of about 700 planes; over 85 per cent are on lease. A majority of lessors are based in Ireland due to its attractive tax policy, light-touch regulations, and swift legal system.
'In view of these facts I do not find it useful to attend the 7th Governing Council meeting of Niti Aayog scheduled to be held on August 7, 2022 and I am staying away from it'
The leaked list contains the name of Union minister Jayant Sinha, who responded by saying that the transactions were not done for any 'personal purpose'.
A few days back, Finance Minister Nirmala Sitharaman urged the start-up community and public to deal in cryptocurrency with caution because everything that was floating around was not currency. In the first week of August, the country's top nine crypto exchange platforms were summoned by the Directorate of Enforcement (ED) in Hyderabad. The exchanges were questioned for money laundering, especially over a number of Indian non-banking financial companies and their fintech partners for predatory lending practices in violation of the Reserve Bank of India (RBI) guidelines and by using tele-callers who misuse personal data and use abusive language to extort high interest rates from the loan takers.
Ruias to sell Essar Steel stake to strategic partners.
Provisions in the Central GST Act say reduction in GST rates or the benefit of ITC must be passed on to consumers.
Stock exchanges have increased scrutiny of investors domiciled in Sikkim, following reports of illegal routing of investments through the Northeast state to evade taxes. The National Stock Exchange (NSE) has directed its trading members (brokers) to re-verify and certify investors who have declared their permanent address as Sikkim. Further, brokers have been told to maintain a vigil on the location of devices used by Sikkim-based clients for trading to ensure these are genuine investors from the region.
The Union government's fiscal deficit works out to be Rs 5.47 lakh crore or 36.3 per cent of the budget estimates at the end of October 2021 on the back of improvement in revenue collection, according to the data released by the Controller General of Accounts (CGA) on Tuesday. The deficit figures in the current fiscal appear better than the previous financial year when the gap between expenditure and revenue had soared to 119.7 per cent of the last year's Budget Estimates (BE) mainly on account of a jump in expenditure to deal with the COVID-19 pandemic. In absolute terms, the fiscal deficit was Rs 5,47,026 crore at the end of October, the CGA said.
The government on Thursday extended the due date of filing income tax returns for 2020-21 for individuals by two months till September 30. The Central Board of Direct Taxes (CBDT) has also extended the ITR filing deadline for companies by a month till November 30. As per the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms the deadline to file ITR is July 31. The deadline for taxpayers, like companies or firms, whose accounts are required to be audited is October 31.
Newly-elected Conservative Party leader and prime minister in waiting Liz Truss is among the senior British politicians known for championing deeper India-UK strategic and economic ties, describing them as a "sweet spot" of global trade dynamics.
ICDS is silent on the prudence aspect of accounting standards.
The earlier attempt at its auction had received a bid of Rs 1.09 crore as against the then reserve price of Rs 152 crore
The government on Tuesday said it will allow setting up of world-class foreign universities in Gandhinagar's GIFT City, free from domestic regulations, to facilitate availability of skilled manpower in the financial services space. In addition, an international arbitration centre will be set up in the GIFT City for timely settlement of disputes under international jurisprudence, Finance Minister Nirmala Sitharaman said while presenting the Union Budget for 2022-23. The centre could be on the lines of the Singapore International Arbitration Centre, or the London Commercial Arbitration Centre.
The new penalty regime could create a fresh set of complications for tax payers.
"Reform is not an end in itself. Reform for me is just a way station on the long journey to the destination. The destination is the transformation of India," he said.
The arbitration clause is present in almost 95 per cent of corporate agreements, according to tax and audit firm Ernst & Young.
The government is targeting export of goods and services worth $2 trillion by 2030.
Self-proclaimed godman and fugitive Nithyananda's 'United States of Kailasa' has signed a 'cultural partnership' with over 30 American cities, a media report has said, days after the city of Newark in the United States state of New Jersey said it rescinded a 'sister-city' agreement with the fictional country.
Four Indian Air Force Sukhoi-30 MKI fighter jets and two C-17 heavy-lift aircraft have joined the 17-nation air combat exercise in Australia.
The new chief minister, if from the Congress, will have little or no time for political administration, to ensure that he does not lose the voter's goodwill even before the Lok Sabha polls. He can count only on one thing. That the BJP may not want to upset him too early lest an early failure should become an added problem for the party in all the polls to follow, predicts N Sathiya Moorthy.
The income tax department on Tuesday said its new utility developed to help TDS deductors and TCS collectors identify non-filers or "specified persons" on whom higher rate of taxes will be levied will help ease compliance burden. From July 1, non-filers of income tax returns for the past two fiscal years would be subjected to higher tax deducted at source (TDS) and tax collected at source (TCS) rate if such tax deduction was Rs 50,000 or more in each of those two years. The provision was introduced in the 2021 Budget. The TDS deductors and TCS collectors would be required to check on the functionality of the PAN of the vendor from whom TDS is to be deducted or TCS to be collected, only at the beginning of the financial year.
'It leads to more investment, more money put in R&D, expansion and modernisation.'
For supply rules, the location decides where goods or services will be taxed.
The DMK leadership may now have to deal with a demand for more seats from its Congress ally in the Lok Sabha polls, predicts N Sathiya Moorthy.
A court in Chennai on Tuesday adjourned to June 9 the income tax return cases against Tamil Nadu Chief Minister J Jayalalithaa and her aide Sasikala for their appearance.
Barcelona forward Lionel Messi and his father Jorge have paid five million euros (4.2 million pounds) to the Spanish authorities after they were accused in June of filing false tax returns, a court statement said on Wednesday.
The controversy over the goods and services tax (GST) rate on food products refuses to die. Now, the Gujarat-based authority of advance rulings (AAR) has ruled that 'parathas' would attract 18 per cent GST. The applicant, Vadilal Industries, sought to know whether various kinds of 'parathas' supplied by them would attract five per cent GST in line with 'khakhra', plain chapati or 'roti'.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
Last year's Budget had created uncertainty about the quantum of tax to be withheld on dividends paid to non-residents, as the exact tax rate was not specified under section 195.
As per Indian tax laws, bonus in kind paid to the employees could be considered as salary income in the hands of the employees.
Hours earlier, a Spanish court issued a preliminary ruling in favor of the 75-year-old tycoon's extradition to the United States to face tax-related criminal charges.
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