The norms will affect companies in pharma, energy, manufacturing, software sectors.
Finance Minister Arun Jaitley is likely to slash corporate tax rate by about one per cent and may put an end date for certain exemptions availed by the industry.
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
'There is a huge tax differential of 15% to 20% depending on income classification.'
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.
It is not advisable to touch retirement corpus if property is being purchased for investment.
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 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.
The move would help tax authorities get leads on evasion.
These plans aren't likely to put substantial cash in your hands.
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.
ICDS is silent on the prudence aspect of accounting standards.
Budget may bring exemption for those backed by Indian securities other than shares
The government has also developed a PAN activity monitoring.
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.
Domestic I-T laws require you to deduct tax on software, e-books and music albums; must report every such transactions while filing returns.
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.
The company has finalised a three year business plan to increase revenue and control costs.
The tax computation compares the original cost, along with the stock value on January 31, and grants benefit of the higher of the two.
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.
Rationalisation in taxation on the retirement scheme puts significant money in the hands of investors.
Budget smartphones will rule the market in 2015.
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.
Combined debt-equity ratio of top companies declines but interest expenses outgrow profits.
If the sum assured is less than 10 times premium, the proceeds will be taxed.
This route accounts for Rs 2.75 lakh crore of FPI holdings.
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 imposed on buyback of shares and employee stock options is different in case of listed and unlisted companies, says Sudipto Dey
Many hurdles that investors could have faced after enrolling for the scheme have been removed.
Arun Jaitley said he would put the DTC Bill in cold storage.
The adjustment orders for AY2012, are expected between January and March 2016.
The disagreement between the Centre and states continued over administrative powers.
Exemption from minimum alternate tax for REITs & infrastructure investment trusts; Depository receipts on all securities eligible for tax benefit
This is the first time airwaves in 700 Mhz band will be put up for auction
Its officers would wear black bands on Monday, which is also Martyrs day, the IRS Association (Customs and Central Excise) has said.
The government has made employers responsible for verifying whether the claims filed are according to the law. Earlier, companies went only by self-declaration of employees.
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