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.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
Amid the prevailing situation in Ukraine due to the rising tensions with Russia, India has advised its citizens to temporarily leave Ukraine.
Reserve Bank Governor Shaktikanta Das said on Monday that fair and impartial auditing is essential for a resilient economy as it instils confidence among citizens. Addressing officers at the National Academy of Audit and Accounts, Das said that audit is important for the country as public expenditure decisions are based on these reports. Observing that there is a need to improve the quality and depth of audit, he said the Reserve Bank has taken a host of steps in consultation with the Institute of Chartered Accountants of India (ICAI) for improving the audit of banks and financial institutions.
With Lok Sabha elections due in April-May, government will hold a session of Parliament in the first fortnight of February to pass the vote-on-account.
Aircraft pilot-in-command Captain Achint Bhardwaj spoke exclusively to ANI after landing at Delhi Airport and said that all air traffic controls, including that of Pakistan, extended support during the evacuation mission.
Foreign Secretary Harsh Vardhan Shringla said India has also approached the International Committee of Red Cross (ICRC) in Geneva and requested it to be cognizant of the security interests of the Indian citizens and escort them out, wherever possible, when it starts its operation in Ukraine.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Pakistan's national flag-carrier on Monday ran its first commercial flight to Kabul since the Taliban takeover of Afghanistan in mid-August.
The US is alarmed and appalled by reports of security authorities responding to university students' peaceful protests with violence and mass arrests.
Pratinav Anil is able to foresee some agency and assertion on the part of India's Muslims. His hope emanates from the citizenship rights movement of Muslims in 2019-2020, notes Mohammad Sajjad.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The central government on Thursday decided to immediately commence evacuation of Indians from Libya by sea and air in view of the "sharp and unprecedented deterioration" in the situation in the African nation which is witnessing anti-government protests that have claimed hundreds of lives so far.
The organised sector workers covered under private PF trusts, which manage their employees' retirement fund themselves, will be able to transfer their PF accounts online from July this year.
Eradication of corruption, free healthcare, basic amenities, education for every student including computers literacy, formed the 12-point election manifesto of the Lok Satta Party for the general and Andhra Pradesh Assembly elections.
Ukrainian President Volodymyr Zelenskiy speaks in Russian during an address in Kyiv, Ukraine, February 24, 2022 in this still image taken from video. Ukrainian Presidential Press Service/via Reuters TV/Handout via REUTERS
Employees covered under private PF trusts, which manage retirement fund of their workers themselves, will be able to transfer their PF accounts online from next month.
The affidavit was filed in response to a petition seeking a direction to declare the PM CARES Fund a 'State' under the Constitution to ensure transparency in its functioning.
Ace drag-flicker Gonzalo Peillat struck a second-half hat-trick as Germany made a sensational comeback after being two goals down to beat Australia 4-3 and enter the men's hockey World Cup final for the fifth time, in Bhubaneswar, on Friday.
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.
The top diplomats of Quad nations on Friday denounced as "inadmissible" any use or threat of use of nuclear weapons in the Ukraine war and strongly opposed any "unilateral actions" that seek to change the status quo in the South and East China Seas, a region that has witnessed increasing Chinese military offensive.
More than 120 athletes are bound for the Games, even though the Indian Olympic Association is yet to officially divulge the strength of the contingent.
'There are many things we need to work on.' 'At the heart of it is, one, the extent of inequality, which is not good for democracy and nation; two, a structural decline on how a country ought to function, how people should be held accountable, whose role is what.'
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
CA will talk to the IPL franchise owners on this arrangement but conceded that it will not be a simple thing.
The social activist said that his team will begin a new movement beginning around New Year.
Diamantaire Mehul Choksi has landed in Antigua and Barbuda, where he has been staying since 2018 after leaving India, after 51 days of custody in neighbouring Dominica for illegal entry which his lawyers claim was a kidnapping plan, local media reported. Choksi, 62, was given bail by Dominica High Court to travel back to Antigua for seeking medical help from a neurologist based there. After depositing bail money of EC Dollars 10,000, Choksi in a shirt and shorts flew back to Antigua in a chartered plane, Antigua News Room reported.
The tax department will remain a source of endless nightmares for citizens and 'transparent taxation' will remain an empty slogan and a cruel joke, observes Debashis Basu.
Aam Aadmi Party-led Delhi government is locked in a power struggle with the Centre and the Lt Governor. Kavita Chowdhury reports
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The Russian embassy said in the spirit of the special and privileged strategic partnership with India, Moscow is committed to maintaining close dialogue with New Delhi on the situation around Ukraine.
Actor-director Shashank Udapurkar's biopic Anna, a linear sketch of the man, who once brought the Delhi Establishment on its knees, fails to inspire, feels Prasanna D Zore.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your income tax queries.
Guterres, who opened an emergency meeting of the 15-nation Security Council on Ukraine late Wednesday, in his brief off-the-cuff remarks said 'if indeed an operation is being prepared, I have only one thing to say from the bottom of my heart: President Putin, stop your troops from attacking Ukraine. Give peace a chance. Too many people have already died'.
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Rahul met the prime minister for about 30 minutes before the party group chaired by Congress President Sonia Gandhi with the prime minister by her side began deliberations at Dr Singh's residence.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
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.
It left the players and the team management disappointed and after discussing the matter among themselves, they have decided to approach the federation.
More than 70 players and their entourage are confined to their hotel rooms for 14 days and unable to train for the Feb. 8-21 Australian Open after passengers on three charter flights returned positive tests.
The flight, AI1943, took off from the Mumbai airport around 3.40 am and is expected to land at the Bucharest airport around 10 am (Indian Standard Time), senior government officials said.
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