Could it have been more reformist? Of course, but this is an election year Budget, observes Akash Prakash.
It's better to inform your new employer about income earned and deduction availed with the previous one.
We asked our readers How to avoid trouble in the UK in the wake of the murder of Indian student Anuj Bidve in Salford, Greater Manchester on December 26. Here's Aruni Mukherjee's response.
The government has decided to provide the tax defaulters another chance to prove their loyalty to the IT department, by implementing a single time amnesty scheme.
India and Myanmar have signed a Double Taxation Avoidance Agreement (DTAA), which provides that business profits will be taxable in the source state. In the case of India, the DTAA will cover income tax and surcharge and in the case of Myanmar, income tax and profit tax. However the maximum rate of tax to be charged in the country of source will not exceed 5 per cent in the case of dividends & 10% in the case of interest and royalties. The deal also has anti-abuse provisions.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Switzerland only provided information on tax fraud that led to criminal activity. But the Swiss definition of tax fraud is quite narrow, which means that a false invoice is not a crime. Now, any tax abuse will be covered.
'Non-par plans returns are not market-linked. Hence, they can offer guaranteed returns.'
As per norms, the returns have to be filed online on www.aces.gov.in.
Because they can easily find them out by analysing your financial transactions.
'Gold prices thrive on volatility and more so when the stock markets trend downward.'
One of Apple's Irish affiliates reported profits of $30 billion between 2009 and 2012, but because it did not technically belong to any country, it paid no taxes to any government.
In a major relief to Indian information technology (IT) companies operating in Australia, Canberra has agreed to amend its domestic laws to stop taxing offshore income of such Indian companies, as part of the free trade deal inked. This may lead to savings up to $200 million each year for over 100 Indian IT companies operating in Australia. "The Government of Australia has agreed to amend the domestic taxation law to stop the taxation of offshore income of Indian firms providing technical services to Australia. "This will resolve the issue that the Indian government has raised about the double taxation avoidance agreement (DTAA) between the two governments for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income," said a commerce ministry official.
Accountability must be linked to minimising infructuous demands and tracking recovery
Besides higher tax outgo, P-note issuers are worried about operational difficulties
Balanced advantage funds have the potential to earn superior risk-adjusted returns for the investor and offer a smoother investment journey.
In order to avoid late payment, interest and penalty know these things before filing income tax returns...
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Prime Minister Anerood Jugnauth has termed the issue as an aberration in the "very special" ties with India and hoped that revision of their tax treaty won't harm its interests.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Begin the year-end review by assessing whether your portfolios are on track to achieve your life goals.
Directed by Sudipto Sen, The Kerala Story depicts how women from Kerala were forced to convert to Islam and recruited by the terror group Islamic State.
Certain provisions of the code would delay the negotiation process, increase the tax liabilities and introduce uncertainties due to the General Anti-Avoidance rules.
India is on the brink of overhauling its tax system, implementing the BEPS project and seeing a further evolution of the GST at the same time as a general election. This makes 2019 an exciting and challenging year, note Maulik Doshi and Jigar Doshi.
Ten airport projects cost taxpayers Rs. 1.097 billion in false accounting and tax avoidance.
Unlike Income Tax, service tax is not charged automatically.
Prime Minister Narendra Modi will push for stepping up global cooperation against the key issue of cross border tax avoidance and evasion at the G20 summit
The Centre is in talks with Mauritius with regard to the long-pending revision of the bilateral tax treaty.
The adjustment orders for AY2012, are expected between January and March 2016.
In this article we shall discuss four preliminary steps to be taken for filing your income tax return accurately and correctly.
The previous United Progressive Alliance government had undertaken some decisions, like introduction of retrospective tax amendments and GAAR, which had dented investor sentiments.
In a relief to Indian companies, the Income-Tax Department has decided to suspend collection of taxes if the Mutual Agreement Procedure is invoked by a US-based entity under the Indo-US Double Taxation Avoidance Convention. To avoid hardship to taxpayers, the competent authorities of India and the US had entered into a memorandum of understanding regarding suspension of collection during the pendency of MAP in 2003.
The development is expected to pave way for greater transfer pricing cooperation between the two countries, enhance investment flow
Kaizen Commercial had offered an initial capital of Rs 3 crore to Reliance Infocomm. In return, the company was offered 30 million shares at par.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Equity-linked savings scheme, PPF and Sukanya Samriddhi Yojana are recommended instruments.
An Aadhaar card can fast-track the KYC procedure for some instruments.
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