Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
With the Supreme Court not getting into the valuation part and leaving it to the two parties, lawyers said there was nothing much for Mistry Group to negotiate.
The filing of online provident fund accounts transfer claims on changing jobs for subscribers of the retirement fund body EPFO has become a reality now.
2,138 firms deposited unaccounted Rs 5,000 cr in zero-balance accounts during the note ban
It's better to inform your new employer about income earned and deduction availed with the previous one.
Billionaire Gautam Adani's group on Tuesday said it will prepay $130 million of debt as it looks to boost investor confidence post being targeted by a US short-seller. Adani Ports and Special Economic Zone, the ports company of the Adani Group, had last month floated a tender to buy back as much as $130 million of its July 2024 bonds and similar amounts in each of the next four as it looked to regain investor confidence by showing that its liquidity position is comfortable. In a stock exchange filing, APSEZ said an aggregae principal amount of $412.7 million was validly tendered.
Small queues were witnessed at some bank branches on Tuesday for the exchange of Rs 2,000 notes against smaller denominations as part of the withdrawal exercise. As per the RBI guidelines issued on Friday, the exchange of Rs 2,000 facility is available from Tuesday. A person can exchange up to a limit of Rs 20,000 at a time without filling any form or requisition slip.
Idea is to bring stakeholders together and explore ways to increase export of services from India.
Tax consultants and chartered accountants have started receiving a flurry of calls from their clients - both corporate and individuals - seeking clarity over changes in the reassessment regime made during the recently concluded Budget Session of Parliament. Tax experts apprehend the amendments may lead to the income-tax (I-T) department sending out more notices. The new provisions, effective from April 1, have extended the scope for tax sleuths to reopen the past assessments.
Revenue department would come out with more clarifications through FAQs on the Undisclosed Foreign Income and Assets Act.
If losses from F&O, intra-day trades are below Rs 20,000-30,000, it's best not to claim them and opt for ITR-2.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
The share capital of the company is Rs 1 crore (Rs 10 million).
Under fire for technical glitches plaguing the new income tax return filing portal, Infosys CEO Salil Parekh on Wednesday said the new portal developed by his company is seeing "steady progress" and already 1.9 crore returns have been filed. He further said that taxpayers' concerns are being "progressively addressed". "We are seeing a steady progress on the income tax system. As of yesterday we had over 1.9 crore returns that have been filed using the new system.
In similarly-worded notices of attachment dated October 17, Sebi asked 11 banks, including ICICI Bank, Bank of Baroda, HDFC Bank, IDBI Bank, Indian Overseas Bank and Standard Chartered Bank, to attach the accounts of the three individuals.
Ms Usha may soon discover that winning four gold medals at the Asian Games and qualifying for the Los Angeles Olympics is a walk in the park compared with the challenges of stabilising governance at the IOA, observes Kanika Datta.
The application for narco analysis test assumes significance as the agency yesterday alleged that Karti was not cooperating in the investigation and was 'evasive' in his replies.
The young party sees a stream of volunteers from outside Delhi. Illustration: Uttam Ghosh/Rediff.com.
A whopping Rs 62,476 crore has been "illegally" transferred by smartphone maker Vivo to China in order to avoid payment of taxes in India, the Enforcement Directorate said Thursday, as it claimed to have busted a major money laundering racket involving Chinese nationals and multiple Indian companies. This money is almost half of Vivo's turnover of Rs 1,25,185 crore, it said without stating the time period of the transaction. The crackdown on the leading Chinese company came after the federal probe agency found that three Chinese nationals, all of whom "left" India during 2018-21, and one other person from that country incorporated as many as 23 companies in India in which they were also helped by a Chartered Accountant, Nitin Garg.
The Aam Aadmi Party office in Delhi has been seeing a steady flow of volunteers offering their services to the party free of cost.
Game streaming is becoming a serious professional choice for youth, as it allows them to make good money.
Retirement fund body EPFO is all set to start online transfer of provident fund accounts in the first fortnight of October, a move that will benefit over 13 lakh applicants every year.
'This is not only a fight against corruption and black money, this is also a fight against terrorism and counterfeit currencies.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Sanjay Singh, Sushil Gupta and Narain Dass Gupta were selected as AAP's Rajya Sabha nominees.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Tax benefit on WFH expenses, regulatory clarity on cryptos figure high on their wish list.
In a circular dated May 20, Sebi had directed the listed companies to evaluate the impact of Covid-19 on their capital and financial resources, profitability, liquidity position, assets, and ability to service debt. Instead, companies have spoken about the number of plants, warehouses and distribution centres that have resumed operations; work-from-home and safety measures undertaken for employees; and the labour shortage they are facing.
Lok Sabha and Rajya Sabha proceedings were adjourned for the day amid protests by the Opposition in both the Houses demanding removal of Ajay Mishra as Union minister and withdrawal of the suspension of MPs.
The disbursal included Rs 1,000 crore for migrant welfare and over Rs 1,392 crore for procurement of Covid vaccine doses.
To send a notice under money laundering law.
Indian talent may soon be allowed to work in France without a degree from a French institute.
Sources claimed that Singhal was "evasive" in her replies and hence was arrested.
The Election Commission on Thursday issued a set of draft "revised" guidelines to political parties asking them not to give cash to their candidates in a bid to curb the menace of black money in elections.
After taxpayers file returns, IT department checks them.
'Nirmalaji must consider herself a very lucky finance minister, partly because of the government's response to covid and partly because we as a nation have done very well as an economy, post pandemic.'
In recent times, more and more audit firms have challenged company managements, some going to the extent of resigning on the ground of incompatibility with what the management wanted or was doing. This, said Ajay Bhushan Pandey, chairman of the National Financial Regulatory Authority (NFRA), in a media interview, was a good sign. Now, the national accounting watchdog has turned the spotlight on audit firms themselves.
The ministry has also made Udayen Sen of Deloitte, and Kalpesh Mehta and Sampath Ganesh of BSR as respondents as they were the signatories of the audit reports of the company.
Money changers operating behind the RBI HQ in Mumbai said they would charge a 15% fee to convert Rs 1 crore.
