Not declaring the black money under the scheme now, but showing it as income in the tax return form would lead to a total levy of 77.25 per cent in taxes and penalty. In case the disclosure is not made either using the scheme or in return, a further 10 per cent penalty on tax will be levied followed by prosecution.
Manipal Group chairman Ranjan Pai is in early discussions to invest in Byju's-owned Aakash Educational Services Limited (AESL). According to sources in the know, Byju's founder and chief executive officer Byju Raveendran, who owns a 30 per cent stake in Aakash, is expected to partially offload his holding to Pai for $80-90 million (about Rs 650-740 crore). Raveendran may use the money to repay a large part of the Rs 800 crore loan that Byju's raised from US-based investment firm Davidson Kempner Capital Management in May, after facing a 'technical default', the sources said.
The income tax department on Friday warned against indulging in cash transaction of Rs 2 lakh or more, saying that the receiver of the amount will have to cough up an equal amount as penalty.
Do you have financial planning queries? Ask rediffGURU Anil Rego.
A person in the 30% income tax bracket with a Rs 40 lakh home loan at 9% interest rate would, under the Rs 3.5 lakh interest exemption, will save Rs 105,000 in tax in the first year, against Rs 60,000 under the previous interest exemption of Rs 2 lakh.
Post demonetisation, there has been a hike in collection of personal income tax
Finance Minister P Chidambaram on Tuesday said the government will zero in on tax defaulters more rigorously using data intelligence from the "wealth of information" that his ministry has gathered through the Annual Information Report.
For a working couple, an efficient tax plan can be achieved by jointly making use of their dual income to invest, and the income tax rules to their advantage. Here are six smart tips from Investment Yogi, to help couples save more and maximise wealth.
This concession will be available only to those who had not received any intimation.
Two organisations tracking tax violations and money laundering worldwide identify totally different sets of countries for lack of financial transparency.
A staggering $18 trillion worth unaccounted money is stashed in tax havens.
'It is the best avenue for investors who would like to take long-term exposure to gold.'
More than Rs 2 lakh crore was wiped off from the overall investor wealth
The government had raised Rs 10,000 crore through the last domestic black money amnesty.
rediffGURU Sunil Lala answers your MF-related queries.
High dividend yield stocks usually perform well in a rising interest rate environment when investors value cash flows more.
You can build your own retirement savings portfolio by investing in equity, hybrid and/or debt funds. Alternatively, you can also invest in retirement funds which provide asset allocation solutions for different investment needs and risk appetites, says Dwaipayan Bose
Sluggish corporate earnings, lacklustre global markets, FPI and slowdown concerns have played spoilsport for the markets.
.jpg)
Live chat on Wednesday, March 12, at 4 pm with investment expert Feroze Azeez.
Tax evasion needs to be made a serious 'criminal offence' to force foreign countries to reveal names and account details of Indians stashing illicit wealth abroad, the Special Investigation Team on black money has said.
Ambani is in good company. The likes of ultra-rich individuals like hedge fund billionaire Ray Dalio and co-founder of Google Sergey Brin have chosen Singapore to establish their family offices. So have British inventor James Dyson, famous for his bladeless fans and hair dryers and vacuum cleaners, and Zhang Yong, founder of China's Haidilao hotpot restaurant chain, reports Lee Kah Whye.
The question we must ask is how do politicians get that wealth disclosed in the affidavits, says Mahesh Vijapurkar.
Join Anil Rego for an online chat between 2 pm and 3 pm on Friday, July 8, 2016.
The Central Board of Direct Taxes has said the government has not introduced any new provision regarding the chargeability of tax on jewellery.
Increased income tax collection is going to be a major consequence of going cashless and this should promise a future of lower taxes and higher purchase power soon, says Anil Rego
'There is a huge tax differential of 15% to 20% depending on income classification.'
Exemptions, and the fact that farm income is outside the tax net, ensure that India's tax-GDP ratio stays low.
Do you have financial planning queries? Ask rediffGURU Kirtan A Shah.
Bharat Sanchar Nigam Ltd's profits have declined after its corporatisation, mainly on account of the sharp increase in wages, higher depreciation rates, provision of bad debts and wealth tax, Lok Sabha was informed on Wednesday.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Lower returns seen drying up investor demand this financial year
The Annual Tax Survey by Right Horizons, an investment advisory and wealth management firm, shows that financial planning among salaried individuals is by and large conspicuous by its absence.
Congress president Mallikarjun Kharge on Monday expressed apprehension that the 2024 Lok Sabha elections would be the last opportunity for the people to save democracy, as Prime Minister Narendra Modi might prefer dictatorship in case his party wins the upcoming polls.
The Finance Minister, however, left the current income tax slabs unchanged.
These schemes are a good choice for investors contemplating a large investment in equity funds. Instead of investing all the money in one go, they can do so in a staggered manner by parking it in these schemes and then transferring it to equity mutual funds through a systematic transfer plan.
The government now ends its mandate with reaffirmation in the vote-on-account of the same goals, for which it claims to have a clear line of sight.
Balanced advantage funds have the potential to earn superior risk-adjusted returns for the investor and offer a smoother investment journey.
A newspaper reported that over 500 Indians have association with firms in tax havens.
Nikunj Saraf, Vice President Choice Wealth, will answers your MF queries.
The "asset-right" strategy, reiterated by ITC chairman Sanjiv Puri during the company's 112th annual general meeting (AGM) on August 11, received a thumbs up from the analysts. They, however, believe that sustained earnings growth and synergies with the demerged hotel's vertical will help the stock break out from the ongoing consolidation. "The stock is expected to consolidate between Rs 420 and Rs 450 in the near future.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances