Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
You can carry forward losses and revise the returns umpteen times in case of mistakes.
CBDT is the apex policy making body of the IT department.
The announcement came after the chief minister held a high level meeting with senior government officials on Thursday to discuss the implementation of both schemes, which are part of five poll guarantees of the Congress.
The Tax Administration Reform Commission submitted report to Jaitley in June 2014.
It's tax time and you need to know your basics. . .
A key demand is to reduce the dividend distribution tax on listed firms.
Today one can easily file returns online.
'Set aside around six months' monthly expenses for emergencies.' 'Keep this money in safe and liquid options, such as liquid funds and fixed deposits.'
On the telecom sector, he demanded auctioning of more spectrum.
CBDT circular issued last month had raised multiple taxation concerns.
Budget may allow use of advance-pricing agreements for past cases.
These funds can fetch double-digit returns over the long term which debt tax-saving products can't.
Assessment of the 427 account holders associated with HSBC list will be completed by March 21, 2015.
Some radio taxi operators are avoiding service tax payments, forcing the revenue department to take necessary steps, including coercive measures, to recover the dues, Finance Minister Arun Jaitley said.
Even though option to invest as a company is available, many FPIs have chosen trust route to enjoy less tax or zero tax through tax havens such as the Cayman Islands and Luxembourg.
The amendment would help check round-tripping of funds and boost the domestic consumption, Jaitley added
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Corporate earnings got a big boost from the fall in commodity and energy prices in July-September 2023 (Q2FY24) despite a slowdown in revenue growth during the quarter. The combined net profits of 3,123 firms that have declared their results so far were up 38 per cent year-on-year (Y-o-Y) to Rs 3.07 trillion in Q2FY24, up from Rs 2.24 trillion a year ago. Earnings were, however, down 3.5 per cent on a sequential basis from Rs 3.18 trillion in April-June (Q1) FY24.
SEBI has published data showing that more than 90 per cent of investors lose money in futures and options, explains Harsh Roongta.
The retrospective tax decision reversing the January 2012 Supreme Court verdict in the Vodafone case has often been cited as the reason for foreign investors losing confidence in India as an investment destination.
'We are engaging in substantial open market sales of both wheat and rice to control food inflation; special measures of market intervention in vegetables, pulses and oil seeds were also taken to cushion the impact.'
The committee has been asked 'to study and identify the provisions.
The move comes amid reports that new wheat crop prices in Madhya Pradesh, which is one the biggest growing state has fallen to below the MSP of Rs 1,625 per 100 kilograms due to bumper harvest.
What are FMPs and should you invest in them?
Indian and Finnish finance ministry officials on Tuesday discussed Nokia's Rs 21,153 crore (Rs 211.53 billion) tax dispute case and reviewed the double taxation avoidance agreement.
Usually July 31 is the last date for filing tax returns. It is important to file the returns on time in order to avoid paying penalty.
Finance Minister Pranab Mukherjee on Monday made it clear that his ministry has been investigating into two aspects of whether there was tax evasion and money laundering in the IPL and it has nothing to do with other issues concerning the Twenty20 event.
Instead of only focusing on the tenure for which the best interest rate is available, investors should also focus on their own investment horizon.
The Cabinet on Tuesday approved signing of an agreement with Slovak Republic for the avoidance of double taxation and prevention of tax evasion.
Renegotiated tax treaty to relax banking secrecy laws.
Has Vijay Shekhar Sharma given up on the bank? For now, he seems to be on a save-OCL mission. The bank will face its logical end, observes Tamal Bandopadhyay.
This would be a practical way of bringing a huge sum of money.
On one hand, South Indian states have been complaining about denial of a proportionate portion of the sharable funds from the Centre, based on population. On the other hand, they stand to lose Lok Sabha and Rajya Sabha seats that again are based on population, points out N Sathiya Moorthy.
From the Sensex pack, HDFC, HDFC Bank, Mahindra & Mahindra, UltraTech Cement, Tata Steel, Bajaj Finance, State Bank of India, Reliance Industries, Bajaj Finserv and ICICI Bank were the major gainers. Power Grid, Maruti, Tech Mahindra, IndusInd Bank, HCL Technologies and Axis Bank were among the laggards.
Even if a company does not invest, it will improve liquidity of banks.
