'Though I welcome the reduction of tax rates for corporates, I wonder why the benefits have been restricted to corporates and not to other business entities such as limited liability partnerships and partnership firms. This needs consideration', says Dinesh Kanabar.
Ironically, rival Tamil Nadu governments expend the most on social welfare schemes, especially targeting women and youth and children, but that money comes only by selling more liquor. There is always the specious plea, which has been peddled very many times in the past, that without licensed liquor, drinkers would go after hooch and there could be more hooch tragedies and hooch deaths. No one is convinced, but no one can dispute it either, comments N Sathiya Moorthy.
An interim report on the action has also been sent by the field investigation wing of the income tax department to the Central Board of Direct Taxes in Delhi, the administrative body for the department.
Raj Thackeray announced unconditional support to the ruling 'Mahayuti' alliance of the BJP, Shiv Sena and NCP in the state and backed Prime Minister Narendra Modi.
The government is exploring legal options, including bringing an Ordinance, to tackle the problem of income-tax litigation on reassessment notices under old, time-barred norms, according to official sources. This has come in the wake of writ petitions filed by companies and individuals in recent weeks to challenge the validity of the notices issued by the tax department between April 1 and June 30 and under the old norms.
For the first time, Modi is eyeball to eyeball with his bete noire, sitting a few feet across him. Given the last 10 years, a confrontation between them was unavoidable, inevitable, points out Saisuresh Sivaswamy.
The finance minister's assertion that industry should not expect any spectacular announcements in the 2024 interim Budget suggest that the electoral imperatives of more tax concessions or higher expenditure on welfarist programmes could be far less pronounced than they were before the 2019 interim Budget, expects A K Bhattacharya.
Billionaire banker Uday Kotak founded bank as well as brokerage created and oversaw an offshore fund used by an unnamed investor to profit from a plunge in Adani shares that followed a damning Hindenburg report, the US short seller said on Tuesday. Hindenburg Research, which had in a January 2023 report alleged stock market manipulations and accounting fraud at the Adani group, said it has received a show cause notice from the Indian markets regulator Sebi over gains made from betting on the conglomerate's shares.
Plug-in hybrids have two engines and the electric part has a much larger battery than in the regular hybrids. Car companies, led by the Japanese, are pushing the Indian government to look at hybrids in the interim if it wants to reduce carbon emission.
It is a good option for parents of girl children who want a debt product and do not mind its low liquidity.
The logic of deregulation was that the consumer was protected no matter what the price of crude. But now the reverse has happened. The government is protected no matter what the price of crude, observes Aakar Patel.
rediffGURU and financial planning expert Colonel Sanjeev Govila will answer your personal finance-related questions.
The Enforcement Directorate on Thursday questioned Congress chief Sonia Gandhi in a money laundering case related to the National Herald newspaper and summoned her for a second round of questioning in the case on July 25.
'I am shocked that the BJP makes so many commitments. What did they deliver as the NDA?'
Since MAAFs invest across multiple asset classes, they offer diversification.
The income tax department on Wednesday conducted a survey operation against Delhi-based think-tank Centre for Policy Research (CPR) and global NGO Oxfam India apart from a media foundation as part of a probe related to alleged FCRA contravention in funds received by them, official sources said.
Former RBI governor Raghuram Rajan has asked why SEBI has not yet got to the bottom of ownership of the four Mauritius-based funds who are said to have parked 90 per cent of their $6.9 billion in Adani group stocks, saying does the market regulator need help of investigating agencies for this? The funds -- Elara India Opportunities Fund, Cresta Fund, Albula Investment Fund and APMS Investment Fund -- have been under cloud for last couple of years after allegations that they may be shell companies. They came into focus once again in January when a US short seller alleged that Adani Group used offshore shell companies to inflate stock price.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries
The Indian National Congress is in no way connected with the businesses of Dheeraj Sahu, MP. Only he can explain, Congress general secretary in-charge communications, Jairam Ramesh said.
Stocks of smallcap and midcap companies, which had caught the fancy of retail investors, also feature in the portfolio of leading politicians in addition to bluechip stocks.
For the sake of transparency, and to reduce undesirable bond market volatility, clarity on these would be welcome, preferably before the budgets for the next fiscal year get finalised, says Neelkanth Mishra.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
'The private sector will look to the budget to check whether there are any headwinds or tailwinds.'
During the first US presidential debate, moderator Chris Wallace asked Trump about The New York Times report which revealed that Trump paid $750 in federal income taxes in 2016 and 2017 and also he had paid no income taxes at all in 10 of the previous 15 years starting in 2000.
'If the NDA comes to power with 320-330 plus seats, then we could see some correction. We could possibly see a level of 19,500 to 20,000.' 'If the NDA comes to power with a majority of 400-plus, we could see the markets going to about 23,500-24,000 levels.' 'And from there we could see some correction because markets are expensive at this point of time and a correction is overdue.'
If you are overweight on fixed-income instruments, go for ELSS, and vice versa.
A robust dispute settlement system would help the government unlock tax revenues, and also aid ease of doing business.
"We will complain. He can meditate, but televisions cannot show it," she said, alleging that this will amount to "violation of the MCC."
They were called to the special cell office in the afternoon and questioned till late evening, a Delhi police source said.
Their downside is that the donor relinquishes all control over the transferred property, and certain tax implications may also arise.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
"Reaching an international agreement on how large digital companies are taxed has been a priority for the chancellor since he took office," said a spokesperson for his UK treasury office. "The chancellor's consistent position has been that it matters where tax is paid, and any agreement must ensure digital businesses pay tax in the UK that reflects their economic activities. That is what our taxpayers would expect and is the right thing," the spokesperson said.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
rediffGURU Ashwini Dasgupta offers tips on how to navigate job interviews.
Bringing petrol, diesel and other petroleum products under the single nation-wide GST regime will reduce taxes on these products and increase the revenue of both the Centre and states, Union Minister Nitin Gadkari said on Wednesday. Finance Minister Nirmala Sitharaman will definitely try to bring petrol and diesel under GST if she gets the support of the state governments, said Gadkari while addressing the Times Now Summit virtually. "In the GST Council, finance ministers of states are also members.
Nirmala Sitharaman on Wednesday assumed charge as the Finance and Corporate Affairs Minister for the second consecutive term and is slated to soon present the final Budget for FY '25 that is going to set the tone for the Modi 3.0 government's priorities and direction for Viksit Bharat. Upon her reaching the North Block office, Sitharaman was greeted by Finance Secretary T V Somanathan and other top officials. Minister of State for Finance Pankaj Chaudhary was also present. Chaudhary assumed charge on Tuesday evening.
In his letter to Sitharaman, Venugopal said media reports have exposed the alleged "quid-pro-quo between BJP and several firms, which in a strange coincidence donated to it, after the Enforcement Directorate (ED), Income Tax Department (IT) and Central Bureau of Investigation (CBI) and others, raided or searched those enterprises".
rediffGURU Ramalingam Kalirajan answers your personal finance queries.
Tax experts G Srikanth and Anil Rego will answer all your tax queries in two different chats between 1 pm and 4 pm on Monday, February 3.
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