Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Ask rediffGURU and tax expert Mihir Tanna your income tax-related questions.
Besides wrong selection of ITR form, many professionals claim deductions they are ineligible for.
Understanding tax residency rules and maintaining proper documentation is imperative to ensure smooth tax compliance.
Tax Guru Anil Rego answers your personal income tax queries.
Some companies are charged with undervaluing their assets.
The proposed move to withdraw the DDT would help encourage investments by addressing multiple taxation of income and bringing down the effective tax rate on companies, which is among the highest in the world.
'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.
Among the other demands in its pre-Budget Memorandum 2008, the IT industry body has also suggested broadening the eligibility criteria for the large tax payer unit scheme, foreign tax credits, advance pricing agreements to provide upfront tax certainty, and refund of service tax paid on services utilised for export of computer software and BPO services.
Financial shares were among the top Sensex gainers along with auto and pharma shares.
DDT is levied on dividends that a company pays its shareholders out of its profits. It is currently charged at the rate of 20.55 per cent, including a surcharge and education cess. Government may instead tax the shareholders receiving dividends, in a bid to help improve investor sentiment by addressing the multiplicity of taxes and bring down the effective tax rates for companies.
Two case studies on how one can use the exemption method or the credit route
The industry employs about 10 million workforce.
If you were deputed abroad, filing income tax can be tricky.
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