The auditors also said that the company is in the process of monetising its assets and has submitted a draft resolution plan to the consortium of bankers for restructuring its borrowings and also there have been discussions for stake sale by the promoters to a strategic partner with further equity infusion.
It is not advisable to touch retirement corpus if property is being purchased for investment.
Singapore is the favoured destination as it has traditionally had a stable fund management regime; also, its tax treaty with India is similar to that of Mauritius
The move would help tax authorities get leads on evasion.
The Disciple is an ode to music and a salute to Mumbai. The city can be harsh, but it also lets the voices of struggling classical musicians exist, although often they live on the edge of society, observes Aseem Chhabra.
These plans aren't likely to put substantial cash in your hands.
'There is a huge tax differential of 15% to 20% depending on income classification.'
ICDS is silent on the prudence aspect of accounting standards.
Once the income has been classified as either business income or capital gains, be consistent.
Withdrawals from EPF and NPS to have same tax rates.
Preliminary investigations conducted by capital markets regulator Securities and Exchange Board of India and inputs from other regulators and government departments suggest that some brokers were offering structured financial products to their HNI clients under some portfolio investments schemes for high returns of 10-20 per cent.
Tax rules that could land you in trouble
India is set to sign an agreement with the US to resolve transfer pricing disputes, which will then serve as a template for settling such rows with multinational companies based in the UK, France and other European countries.
Budget may bring exemption for those backed by Indian securities other than shares
The government has also developed a PAN activity monitoring.
The company has finalised a three year business plan to increase revenue and control costs.
Domestic I-T laws require you to deduct tax on software, e-books and music albums; must report every such transactions while filing returns.
Last week, the government had introduced the black money Bill.
Firms that have a turnover of under Rs 1 cr can pay tax without maintaining books.
Budget smartphones will rule the market in 2015.
Combined debt-equity ratio of top companies declines but interest expenses outgrow profits.
Rejecting the contention of the auditors and others that they cannot be treated as part of the management, which is responsible for managing the affairs of the company and therefore should not be charged as per the said section, the NCLAT said that rules of natural justice are to be followed.
Rationalisation in taxation on the retirement scheme puts significant money in the hands of investors.
To save promoters from 10% levy, 70 firms call board meetings on interim pay.
This move to make it easier for funds to avail of tax exemptions.
From 100% tax deductions for contributions to PM-CARES fund to extending the due date for linking Aadhar and PAN card, the government has provided various tax relief and extensions in deadlines for statutory compliances, says Homi Mistry.
If the sum assured is less than 10 times premium, the proceeds will be taxed.
The broader markets ended mixed with mid-caps gaining 0.1 per cent and small-caps falling 0.1 per cent on the BSE.
The tax computation compares the original cost, along with the stock value on January 31, and grants benefit of the higher of the two.
This route accounts for Rs 2.75 lakh crore of FPI holdings.
'If this first instalment of advance tax is paid by June 30, instead of June 15, then the interest on delayed payment will be levied at 0.75% per month instead of 1% per month,' notes Homi Mistry, a partner with Deloitte India.
Arun Jaitley said he would put the DTC Bill in cold storage.
Many hurdles that investors could have faced after enrolling for the scheme have been removed.
The adjustment orders for AY2012, are expected between January and March 2016.
The tax imposed on buyback of shares and employee stock options is different in case of listed and unlisted companies, says Sudipto Dey
Exemption from minimum alternate tax for REITs & infrastructure investment trusts; Depository receipts on all securities eligible for tax benefit
Expressing disappointment over the hike in repo rate by the RBI, India Inc on Friday said a rate cut by the bank would have helped ameliorate sentiments as businesses are "reeling" under a tight liquidity crunch due to high cost of capital.
This is the first time airwaves in 700 Mhz band will be put up for auction
Clarifies 'profit-split' will not be only method to compute tax
The size of corporate fraud in India almost doubled after 2009, and such cases also increased in number, said a report from Thought Arbitrage, a think tank in Delhi.
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