This was a fresh probe based on the inspection of certain derivative contracts both on the BSE and NSE.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Sentiments may get impacted as mutual funds have been gaining traction among investors as route to invest in stock markets
Most of these alleged tax evaders hail from Kolkata, Mumbai, Ahmedabad, Surat, and Delhi.
Questions on the efficacy of the government's drive towards filing of more returns by individuals and on whether raising tax exemption levels has led to reduced compliance in filing of returns by those who go out of the tax net, says A K Bhattacharya.
Don't forget to ask for quarterly audited statement of transactions in your account. This will make it easier for you to calculate your tax liability and pay it on time.
There are no major announcements in the Union Budget 2014-15.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
The 50-share NSE Nifty settled lower by 94.05 points, or 0.87 per cent, at 10,666.55 after shuttling between 10,586.80 and 10,702.75.
Buying or selling securities based on rumours about expected changes in tax rates or sectoral sops can backfire, advises Sarbajeet K Sen.
The Centre is considering a gradual phasing out of certain direct tax exemptions meant for corporate and personal tax payers. This is among the tax proposals being discussed for the upcoming Union Budget 2022-23. A top policymaker said that according to the government's internal assessment, the percentage of corporates and individuals shifting to the new exemption-less tax regime has been very encouraging, and the Budget-makers expect many more to make the switch in the coming years. The person also said the finance ministry is exploring the option of rationalising the capital gains tax rates.
Archana Ramanan, a homemaker from Tamil Nadu, tells Rediff.com's A Ganesh Nadar what she would like to see in Finance Minister Nirmala Sitharaman's Budget.
The broader NSE Nifty jumped 57.25 points or 0.49 per cent to close at 11,844.10.
For the first time in the history of Budget-making in India, a single Budget will touch 65 crore Indians, says Shailesh Haribhakti.
His advice was to always start with small positions because we are bound to make mistakes; and remain humble because the markets can be merciless, remembers Debashis Basu.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Taxpayers need not invest proceeds from sale of property strictly within 180 days from date of sale to get exemption under Section 54EC.
'The only good thing is people will not be required to maintain their medical bills and invest time in that.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Long-term capital gains tax may be scrapped and the burden of dividend distribution tax could perhaps be shifted from companies to shareholders. Also, the Budget could provide income tax relief for the salaried classes, while proposing tax sops for small, medium and micro enterprises.
Top gainers in the Sensex pack included HCL Tech, Tata Motors, M&M, Bajaj Auto, RIL, Hero MotoCorp, Yes Bank, Maruti, HDFC Bank and Bajaj Finance, which surged up to 6.43 per cent.
Liquidity issues post the crisis at DHFL, progress of monsoon, rupee trajectory at the domestic level and oil prices are some factors that will keep markets choppy, analysts say.
Searches are being conducted in connection with a case of alleged tax evasion.
'Genuine' share transfer gets relief; CBDT lists three scenarios where tax would be levied
'For the same level of return, you can reduce portfolio volatility significantly with a 10% to 15% exposure to international funds.'
Having a single point KYC that is automatically used across all financial and non-financial entities is a single piece of reform that should be an easy win to achieve, points out Harsh Roongta.
A primer on tax you pay on your mutual fund gains
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Tax Guru Anil Rego answers your personal income tax queries.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Several PE investors have appealed to the ministry to bring them at par with the foreign institutional investors as far as tax treatment is concerned.
Under the Income Tax Act (I-T Act), the income of a minor child is clubbed with that of one of his/her parent, whoever earns more.
The move will establish a level-playing field for domestic investments in start-ups compared to foreign-based sources.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Precious metal coins may attract capital gains tax.
The grandfathering clause and set-off provisions can be used to reduce the tax payable on sale of bonus shares, says Arvind A Rao.
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It depends on the assessing officer's interpretation. To be on the safe side, have a separate trading account.
Invest in bonds and another property to save tax on capital gains.
It will shield you from paying capital gains tax on profits accrued from the sale of property while earning an interest on it.
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