Do you know what Section 80DDB is and how it can help you save tax? How much tax can you save under this section and how can you avail it?
Income tax expert Mahesh Padmanabhan says you will have to pay a fine of Rs 5,000 if you miss your deadline for filing tax returns. But then, what is the actual deadline for filing returns?
Likening the National Population Register and the National Register of Citizens with demonetisation, Congress leader Rahul Gandhi on Friday said these exercises are "tax" on the poor, who will suffer the same way they did after the note ban in November 2016. "Poor people will have to go to officers and show their documents and give bribe. They will have to give bribe if there is a slight mistake in their names. Crores of rupees will be pulled out of the pockets of the poor and will be given to the same 15 people. This is the truth. It is an attack on the people," he said.
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
Individual tax-payers could get notices in case of a loan or a cash gift from a relative.
Can students who earn and learn claim tax exemption on tuition fees? In a chat with Get Ahead readers tax expert Mahesh Padmanabhan answered this and other tax-related queries.
A total of 728 applications have been received till July 18, 2016 for Start Up recognition.
The Tax Administration Reform Commission submitted report to Jaitley in June 2014.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Flipkart, the e-commerce company owned by Walmart, is intensifying its efforts to achieve profitability as it is eyeing a valuation of approximately $60 billion at the time of its initial public offering (IPO), now planned in 2025-2026, instead of this year, according to people familiar with the matter. The firm might consider listing in the US or any other geography, including India. The company, which counts the likes of Amazon and Reliance's JioMart among its competitors in India's burgeoning e-commerce market, had also contemplated launching an IPO in 2022-2023.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Mahesh Padmanabhan, principal advsior, RelaxWithTax, will answer all your tax-related queries in an online chat on February 5, between 2 pm and 3 pm
As per the IT rules, all proofs establishing your income or expense or deductions have to be maintained for seven years from the end of the financial year it relates, says direct tax expert Vikas Gandhi.
The CBEC will itself be rechristened as the Central Board of Indirect Taxes and Customs and will supervise GST and Customs activities and provide the government policy inputs.
It is your obligation to file your income tax return. Although your employer is not providing you Form-16 it would be advisable for your file your return. While doing so just mention TAN of your employer to ensure that you get credit for the tax deducted frrom your salary income, says direct tax expert Vikas Gandhi.
Do you know that you can claim tax benefits on rent paid even while housing rent allowance is not a part of your salary? Get Ahead Tax expert Mahesh Padmanabhan tells you how, how much and under which section you can claim tax benefits.
To pay tax on capital gains, you first need to know whether the gain is short term or long term. If you have kept shares for more than one year the gain will be termed as long term otherwise short term, says direct tax expert Vikas Gandhi.
You have sold shares and made profits but don't know what the tax implications will be? Will your profits attract short-term or long-term capital gains tax? Get Ahead tax expert Mahesh Padmanabhan answered these and many more queries related to the tax issues on capital gains and ESOPs.
The Income Tax department Wednesday conducted searches at the premises of Bengaluru-based pharmaceutical company Micro Labs Ltd, the manufacturers of Dolo-650 tablet that was widely used by COVID-19 patients during the last over two years, on charges of alleged tax evasion. Officials said the department is looking at financial documents, balance sheets and business distributor networks of the company as part of the searches. The PTI has sent queries on the action to the company and a response is awaited.
Get Ahead home loan expert Harsh Roongta on tax benefits fo availing a home loan.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
Authorities will allow the country's taxpayers to access the mutual agreement procedure (MAP) for cross-border disputes. This is even if they had settled the case under the direct tax dispute resolution scheme - Vivad se Vishwas - without deviating from the outcome of the scheme, said the Central Board of Direct Taxes (CBDT) on Monday. However, non-resident taxpayers, who opted for the resolution scheme, cannot go for MAP on the same issue, it clarified. MAP is an alternative dispute resolution mechanism under the tax treaties where competent authorities of two countries enter into discussions to resolve tax-related disputes.
The Income Tax Department has put on its Web site the list of tax refunds that could not be sent to salaried taxpayers for want of correct address.
The Enforcement Directorate (ED) on Tuesday conducted searches at 44 places across the country in a money laundering investigation against Chinese smartphone manufacturing company Vivo and related firms, officials said. The searches are being carried out under sections of the Prevention of Money Laundering Act (PMLA) at locations in several states including in Delhi, Uttar Pradesh, Meghalaya, Maharashtra and others. The agency is conducting searches at 44 places related to Vivo and associated companies, they said.
You and your spouse are co-borrowers on a home loan account. Your spouse, though, is not a co-owner. Can s/he claim tax benefits? Read on.
Prime Minister Anerood Jugnauth has termed the issue as an aberration in the "very special" ties with India and hoped that revision of their tax treaty won't harm its interests.
This fresh case pertains to the tax assessment done by the I-T department for the year 2009-10.
You cannnot take benefit for a home loan which has been taken in some other persons name, says tax expert Vikas M Gandhi.
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.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
'There are unscrupulous traders who create fake invoices by showing bogus e-way bills, movement of goods.' 'Since the entities registered across different states, and kept on changing their numbers, tracing them was difficult.'
Tax authorities want to reduce harassment of tax payers by eliminating interface between assessees and taxmen
The dispute over the tax payable for its purchase in 2007 of the 67 per cent stake in Hutch is on an amount of Rs 11,200 crore (Rs 112 billion).
File your return by July 31, says tax expert Vikas Gandhi.
Many requests are pending with the Swiss authorities.
Home First Finance will be answering readers' home loan queries. Mail your queries to getahead@rediff.co.in with the subject line 'Home Loan Query' and we will have your queries answered by Home First Finance.
Do you have financial planning queries? Ask rediffGURU Abhishek Dev.
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