US proposal to raise the global corporate tax rate to 28% from 21% might face resistance from countries unwilling to give up their edge and compete with America on its terms.
rediffGURU Ashwini Dasgupta offers tips on how to navigate job interviews.
The windfall tax on oil produced within India and fuel exported overseas will make up for more than three-fourths of the revenue that the government lost when it cut excise duty on petrol and diesel to cool soaring inflation, industry sources said. India on July 1 joined a select league of nations globally that have taxed windfall gains accruing to oil companies from soaring energy prices. The government slapped a Rs 6 per litre tax on the export of petrol and jet fuel (ATF) and Rs 13 a litre on the export of diesel effective July 1. Additionally, a Rs 23,250 per tonne tax was levied on crude oil produced domestically.
The bulk of an investor's portfolio should be in shorter-duration funds of up to one year portfolio duration.
Viewing with concern the spurt in fictitious and unauthorised e-mails landing in personal Internet addresses of many people, the department is adding a word of 'caution' at the end of each mail sent by them.
Evaluate recurring investment products and do the numbers before making any investments.
The avoidable stresses and strains in ties helped in one way. It showed for the entire region how a matured India handled diplomatic relations, especially with a smaller and suspicious neighbour, with practised dignity and patience, unruffled by provocations in word, deed and action, observes N Sathiya Moorthy.
Through a revised return, you can make changes to your ITR and even end up paying lower tax.
The scheme offers waiver of interest, penalty, and prosecution for settling tax disputes.
Only investors with a higher risk appetite should enter these funds.
Tax Guru Anil Rego answers your personal income tax queries
At present, the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, covers only resident Indians. The Finance Bill has expanded the definition of assessees to include NRIs.
During a series of hectic talks between Cairn Energy and the Indian government over the $1.2-billion arbitration award in favour of the former last week, a slew of options was proposed by the two sides, including computation of capital gains and participation in the Vivad se Vishwas (VsV) dispute resolution scheme. The government is likely to go ahead and appeal against the arbitration award by a Permanent Court of Arbitration at The Hague before March 21, indicated finance ministry officials. Cairn Energy Plc on Sunday said it was hopeful that an acceptable solution to its tax dispute with the Indian government could be found to avoid prolonging and exacerbating the 'negative issue' for all parties.
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.
If you disagree with the notice, be ready to explain.
While the tax-to-GDP ratio of 9.88 per cent has been assumed for FY21, the same as last year, when it touched a decadal low, for FY22 a ratio of 10.7 per cent has been assumed, an average of the last five years.
Since MAAFs invest across multiple asset classes, they offer diversification.
The US launched an investigation, focusing on whether the tax in India and other countries discriminated against American companies, were retroactive, and reflected unreasonable tax policy.
'Many non-resident taxpayers faced issues in filing Form 10F since the portal didn't allow those who didn't have PAN to file the form.'
Former United States president and Republican presidential nominee Donald Trump on Thursday refused to debate with his Democratic rival and Vice President Kamala Harris until the Democrats formally decide on their nominee, whereas the latter said that she is ready for a debate.
The government said that far from targeting any US entity, the purpose was to ensure fairness, healthy competition, and to exercise the ability of governments to tax businesses having a nexus with the Indian market through digital operations.
If you were deputed abroad, filing income tax can be tricky.
With Some exceptions, tax has to be paid on getting a gift; check out the rules before taking or giving one.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
The Enforcement Directorate has filed its first charge sheet in connection with its money laundering probe against Chinese smartphone maker Vivo-India and some others, official sources said on Thursday. The prosecution complaint was filed before the court of Special Judge Kiran Gupta in New Delhi on Wednesday under the criminal sections of the Prevention of Money Laundering Act and Vivo-India has been named an accused apart from those arrested in this case, the sources told PTI. The judge posted the matter for consideration on December 13.
Events proved that on every count the RBI had accurately predicted both the damage and the lack of benefit. What the RBI was hiding was the fact that Modi had ignored its concerns -- all of which turned out to be true -- and gone ahead anyway, asserts Aakar Patel.
Niranjan Upadhye, general manager, fraud risk management, Worldline India, tells you how to quickly spot a scam and save yourself from grief.
One common mistake investors commit during profit booking is not having a plan for the redeployment of the money that comes into their account.
The minimum threshold to come under GAAR will be Rs 3 crore.
Those just starting their careers should avoid adding to their liabilities, especially if they already have an education loan. They should think hard before taking a car or home loan.
A robust dispute settlement system would help the government unlock tax revenues, and also aid ease of doing business.
When looking at fund returns, avoid looking at just the past 12 months' performance, says Sanjay Kumar Singh
These plans are best suited for individuals with a lower risk appetite as they provide guaranteed benefits.
The government on Friday announced that no tax will be charged on overseas spending of up to Rs 7 lakh in a year using debit or credit as it looked to douse backlash from its earlier decision of levying TCS on all spending. The government had earlier this week brought overseas credit card spending under Liberalised Remittance Scheme (LRS). This meant that any spending using credit cards overseas would attract a 20 per cent tax from July 1.
The panel's recommendations will be aimed at making a predictable and non-adversarial tax regime in the economy.
Without accounting for refunds, however, the collection contracted 5.4 per cent, indicating muted economic activity as the Covid-19 pandemic and subsequent curbs paralysed most sectors.
rediffGURU Jinal Mehta answers readers' financial planning and health insurance queries
A look at a few important questions on GAAR and their answers.
