Direct tax expert Vikas Gandhi offers some valuable tax-saving tips.
In a chat on rediff.com, direct tax expert Vikas M Gandhi offered some valuable tax-saving tips.
In an hour-long chat on Thursday, direct tax expert Vikas Gandhi offered some valuable tips.
The tax rates for Indian firms, including surcharge, education cess and a fringe benefit tax ranging between four to six per cent amounts to 38 per cent. This again is without considering the dividend distribution tax which Indian firms are liable to pay on dividends declared.
Under the 2009-10 Budget, FBT has been abolished. While this is going to be received very favourably by the finance departments at companies, the impact on your personal finances might not be the most optimal for you.
The levy of service tax for transport of goods by rail, transport of cargo, goods through inland water including national waterways will hike the transport cost.
The Union Budget 2009-10 has proposed to extend the terminal date for starting the power generation by cogen plant by one more year.
The dyestuff industry is at a threshold of momentous change.
Hailing the Budget 2009-10 as "growth oriented", Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday said there would be no need for another stimulus in the current fiscal.
Unveiling the Budget for 2009-10, Finance Minister Pranab Mukherjee said, "MAT was introduced to address inequity in taxation of corporate taxpayers. In the quest for greater equity, I propose to increase the rate of MAT to 15 per cent of book profit from the present rate of 10 per cent."
Pranab presents his fourth Budget.
It will pay salary-earners to be tax-smart so that they can get to keep more of the hard-earned money.
With the introduction of CTT, commodity players raise their doubts about the fledgling futures market.
The thrust on agriculture, removal of Fringe Benefit Tax etc should help improve the earnings of the FMCG sector
The budget has increased the outlay for the Ministry of Civil Aviation by 21% at Rs 12165 crore from Rs 10031 crore for FY2008-09. However, the revised estimate for FY2008-09 was at Rs 7490 crore against the outlay of Rs 10031 crore.
Corporate India shelled out Rs 1,75,428 crore (Rs 1.75 trillion) as taxes, including corporate tax and the Fringe Benefit Tax, in 2007-08 financial year.
Some chlor alkali producers using naphtha as feedstock for captive power plant will benefit from cut in the excise duty on naphtha from 16% to 14%.
Nasscom President Som Mittal welcomed the extension and said that though the industry had asked for a five-year break, for short term, the one-year tax holiday is well-timed to tide over the slowdown. The country's second largest software exporter Infosys, however, said, the impact is limited as most STPs would have come out of tax holidays but it is a good gesture of the government.
The ruling also pointed out that FBT would apply to liaison offices of foreign companies in India if the liaison offices had employees based in India. The Singapore-based tourism company had sought the authority's ruling whether it was liable to pay FBT on the benefits provided to the company's employees in the liaison offices in India.
After the FBT was introduced in 2006, the industry has been appealing to the finance ministry to exempt sales promotion schemes from its ambit since the incurred expenditure cannot be treated as employee benefits.
Finance Minister P Chidambaram on Wednesday announced that the Permanent Account Number (PAN) to be made sole identity for participants in the security markets to strengthen capital market.
The government may simplify Fringe Benefit Tax, rationalise tax structure and depreciation norms for research and development in the next Budget, apart from making efforts to raise the Tax-GDP ratio and garner more funds for development.
The Institute of Chartered Accountants of India has offered technical information for drafting the rules for valuing employee stock options for calculating the fringe benefit tax.
In order to make India a major refuelling stop for airlines, the government on Friday announced that supplies, such as food and beverages, to international flights will be treated as exports.
Minimum Alternate Tax (MAT) has been extended to income in respect of which deduction is claimed by companies under Section 10A & 10B of the Income Tax Act.
Exclude expenses on free samples of medicines and of medical equipment distributed to doctors;\nExclude expenses incurred on brand ambassador and celebrity endorsement
If companies recover the fringe benefit tax on employee stock options from the beneficiaries, does it still make sense for employees to go for them?
The Central Board of Direct Taxes on Tuesday notified the norms for valuation of employee stock option plans (ESOPs) for calculating fringe benefit tax (FBT). The rules will take effect from April 1, 2008, and apply from assessment year 2008-09. The notification said the value of stock options of listed companies would be the listing value - the average of opening and closing price - on the day the options were vested with the employee.
The guidelines on the valuation of employees' stock option plans (ESOPs) for calculating fringe benefit tax (FBT) will be issued by September 8.
Should you go for a salary structure with high basic component? Is there a flip side to it?
Anil Rego analyses the new tax code expected to kick in after April 2011 and what it means for the tax-payer.
Union Finance Minister P Chidambaram on Thursday said that tax exemptions will be pruned further and phased out eventually and that the controversial Banking Cash Transaction Tax will be reviewed next year.
Despite optimism about export prospects, investments and recruitment in the next six months, India Inc's business confidence index fell in the fourth quarter of fiscal 2004-05 compared to the previous period, a FICCI survey said on Monday.
Is your company using your cost to company, CTC, to make you pay the fringe benefit tax, FBT, on your stock options, ESOPs?
The government has proposed to dilute the controversial Fringe Benefit Tax, exempt savings account from the 0.1 per cent banking cash transaction tax and raise income tax exemption limit for women and senior citizens.
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