Instead of conceding the demand for a cut in personal income-tax rates, Finance Minister Nirmala Sitharaman should phase out many exemptions in both personal and corporation taxes, suggests A K Bhattacharya.
The news of Dixon Technologies (India)'s tie-up with HP in addition to its existing Lenovo and Acer partnerships has led to a 5 per cent stock uptick since the start of the week. Dixon can target roughly 60 per cent of India's addressable IT hardware market with these contracts. Dixon targets Rs 48,000 crore in revenue from IT hardware under the PLI scheme over the next six years.
There is nothing to be worried about as bilateral ties are robust with solid foundations. Both are on the same page on the economic and defence/security ties bilaterally and globally and that shall continue irrespective of change in political dispensation in either country, points out Dr Rajaram Panda.
State FMs okay list of tax-exempt services with certain riders.
Iron ore mining major NMDC's results for the April-June quarter (Q1) of FY25 were better than estimates. Weak volumes were balanced off by higher realisations, better average selling price (ASP) and lower royalties which boosted bottomline. The revenue was in line with estimates at Rs 5,400 crore, flat year-on-year (Y-o-Y) and down 17 per cent quarter-on-quarter (Q-o-Q).
Tax-saving funds are a key part of any portfolio that is designed for the Rs 100,000 investible limit as defined under Section 80C.
That's a big change that was made possible due to corporate tax cuts. Corporation tax collection in FY22 will be lower than even the FY18 levels, reports
Indian companies, many of which have been acquiring overseas entities, suffer from taxation planning as part of the deals, said accountancy and consultancy firm Ernst & Young
Buy from an established agent rather than a novice who may not be around when you need his assistance.
Switzerland only provided information on tax fraud that led to criminal activity. But the Swiss definition of tax fraud is quite narrow, which means that a false invoice is not a crime. Now, any tax abuse will be covered.
The performance of tax-saving funds seems even more impressive once the tax benefits have been factored in.
'Investing abroad helps mitigate currency risk for foreign-currency denominated goals, such as children's higher education and international travel.'
Upstream majors ONGC and Oil India (OIL) results for the January-March quarter (Q4) of FY24 suggest better production in future. But OIL missed its own production targets although it delivered higher volumes and it disappointed the market in terms of Ebitda. ONGC reported standalone Ebitda of Rs 17,400 crore (up 7 per cent year-on-year or Y-o-Y) in Q4FY24, slightly below estimates due to other higher expenses.
Ahead of the upcoming budget, eminent economists during a meeting with Prime Minister Narendra Modi on Thursday urged the government to take steps to accelerate economic growth and improve infrastructure, sources said. The meeting was organised by the NITI Aayog on Thursday to elicit views and suggestions of economists for the first budget of the Modi 3.0 government. "Earlier today, interacted with eminent economists and heard their insightful views on issues pertaining to furthering growth," Modi said in a post on X.
A few companies continue to pay taxes at 15-20%.
Have you wondered how many days of work -- depending on your net monthly income -- you would have to put in to buy the top-end iPhone 16 Pro?
A retirement fund can be helpful for all age groups, but ideally one should start investing early to beat market swings and gain from compounding.
Experts say the size of the fund shouldn't be a primary criterion for selection.
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. Please write to us at getahead@rediff.co.in with the subject line as 'Tax query' and our expert will answer them.
Private credit is fast emerging as a major source of finance for projects in India as several entrepreneurs are looking for short-term debt to bridge the funding gap due to difference in pricing for equity dilution, top officials at PwC India said. They said while new private equity (PE) investments during the past two years have declined, several public market exits by PEs were observed during that period. Several companies are likely to approach capital markets in the near future to provide liquidity to PE fund investors.
Though we know that Form 16 is for tax filing but many of us still find it hard to understand the components of Form 16 while filing the return. Understanding Form 16 is the key to a better tax planning.
Make the Income Tax Act work for you by using its tax saving provisions to fund the purchase of not only your first house, but also of the second one.
'Banks make money because they take the right credit calls. So they need to focus on risk mitigation rather than risk avoidance.'
It's best to start your tax planning in the beginning of the year to help you systematically grow your savings coupled with the added benefit of tax saving realised at the end of the financial year.
Finance Minister Nirmala Sitharaman on Wednesday raised the personal income tax rebate limit, doled out sops on small savings and announced one of the biggest hikes in capital spending in the past decade as she did a tight rope walk in the Budget between staying fiscally prudent and meeting public expectations in the year before general elections.
'Business families like the Godrej group are increasingly realising that an amicable settlement is better.' 'Else, the wealth of all shareholders gets destroyed.'
Here's an investment strategy for investments in tax-saving funds.
India's leading steel companies hope the Modi 3.0 Budget will continue the massive capital expenditure currently underway, focusing on infrastructure development, manufacturing, and fair trade. The infrastructure segment is the largest steel user, and the government's focus has fuelled steel consumption even as international markets have underperformed. According to provisional statistics, steel consumption grew 13.6 per cent in FY24, reaching 136 million tonnes (mt), according to a CRISIL report.
An analysis of S&P BSE 500 companies suggests that promoters of Indian private-sector companies in particular could end up paying at least 20 per cent more as additional tax on the same dividend income.
'The consensus was that the debate was between looking backward and looking forward.' 'Trump, with his great enamourment of his own 'achievements,' was obviously looking backward, while Harris, nearly 20 years his junior, was focussing on the future, with hope,' notes Shreekant Sambrani.
'I am very happy to see that the work is starting to bear some fruit now.'
As the calendar year comes to an end, employees are asked to file investment declarations to their companies.
For Indians (NRIs) in America, the beginning of 2011 will mean more tax burden. The estate duty, better known as 'death tax', has been re-introduced.
Indian charitable trusts, including Tata Trusts and top corporate donors, are stumped by a new tax law proposed in the Budget, which reduces tax breaks for the donor organisations. The Finance Bill proposes that if a charitable organisation donates to another charity, then only 85 per cent of the donation will be considered as application of income for the donor organisation. Trust officials say this is a major setback for the donor organisations, including corporate foundations and intermediary organisations, which work with various implementing agencies at the grassroots level.
Earlier, the customer paid service tax on 1 per cent of the premium. From the next financial year, this will go up to 1.5 per cent.
The interest payable on personal loan as well as the princiapl repaid will be eligible for a deduction.
With less than 6 months left for the close of the financial year, smart investors would have commenced their annual tax planning. Tax-saving funds (also referred to as equity linked savings schemes -- ELSS) are popular avenues among risk-taking investors. Apart from providing benefits under Section 80C (investments in tax-saving funds are eligible for deduction from gross total income), tax-saving funds offer investor opportunity to invest as per their risk appetite.
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