Agricultural incomes can be taxed without hurting farmers, as a substantial section - the small and marginal ones - will remain outside the tax net simply because their incomes are likely to be below the basic exemption limit of Rs 250,000 per annum that is extended to all taxpayers in India, finds out Ishan Bakshi.
The company moved the income-tax appellate tribunal and its appeal is pending there.
An earlier tax fraud case against Messi is to be heard in a Barcelona court between May 31 and June 3 after the World Player of the Year and his father Jorge were accused by the tax office in 2013 of defrauding the Spanish state of 4.2 million euros ($4.5 million) from 2007-09.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
The parents of Brazil forward Neymar have denied any wrongdoing after a judge froze 188.8 million reais ($47.6 million) of the player's assets in a tax evasion case.
In a stern warning to service tax evaders, the government asked them to either pay their dues by tomorrow or face penal action which could include arrest and prosecution.
If a couple is registered as joint owners of a property, the tax authorities expect both of them to show their income or capital gains from the house in their tax returns, says Arvind Rao, a chartered account and certified financial planner
Some persons with accounts in a Swiss bank have paid taxes amounting to about Rs 180 crore so far, Finance Minister Pranab Mukherjee has said in Parliament. He did not disclose any name.
A N Shanbhag, the highly respected investment guru, and his son Sandeep Shanbhag, answer your questions on NRI investment.
The government now ends its mandate with reaffirmation in the vote-on-account of the same goals, for which it claims to have a clear line of sight.
The Reserve Bank has asked the public to pay their income tax dues well in advance so as to avoid standing in long queues and stated that 29 agency banks are also authorised to accept such payments.
The government should not go in for an 'aggressive fiscal consolidation' in the upcoming Budget as global risks have not abated, RBI Monetary Policy Committee (MPC) Member Ashima Goyal said on Wednesday. Goyal further said subsidies are expected to come down as food and energy inflation moderates. WPI inflation in food articles in November was 1.07 per cent against 8.33 per cent in the previous month.
There are millions of Indian women who avoid the responsibility of managing their finances due to a variety of reasons, including cultural and social conditioning.
The communication was clear, transparent and worded in a manner that did not induce any fear in the minds of the people, point out A K Bhattacharya.
'...over the long-term can be done only by investing in equities.' 'And during weak macros, one needs t1o allocate more than drawing it down, because they offer the best entry point.'
Use deductions introduced in the Budget to save additional Rs 24,000 in tax
The finance ministry (FinMin) has asked Infosys to work on ways to extract and access taxpayers' real-time data faster and accurately as it is crucial for taking decisions on policy changes. While reviewing progress of the income tax portal 2.0, which had faced glitches, the officials also told the Infosys team to increase the scope of pre-filled data in the ITR forms. Senior officials in the ministry held a review meeting last month with the Infosys team and officials of the Central Processing Centre (CPC).
Generally,profit of a partnership firm is divided among its partners in sync with their partnership deal.
Common return for excise duty and service tax was envisaged when 119 services were taxed.
The embattled Adani Group on Monday attempted to calm the market as a rout in its shares continued, saying its growth plans are intact, business plans are fully funded and it remains confident of delivering returns to shareholders. Market value of the group's seven listed companies has halved since a January 24 report by US-based short-seller Hindenburg Research alleged that Adani pulled "the largest con in corporate history" using offshore tax havens and stock manipulation. The Group has denied all allegations, calling them "malicious", "baseless" and a "calculated attack on India".
Indian companies having their management in the country would be taxed in India as per Indo-Mauritius Double Taxation Avoidance Convention Agreement even if they are incorporated in Mauritius
At the time of the media maelstrom around her non-dom status, she hit back at implications that it was in some way indicative of her stronger bond with India than the UK.
Mauritius promises India full-cooperation on tax treaty issues.
The finance ministry today said that tax exemptions and concessions, which are estimated to cost the exchequer Rs 100,147 crore (Rs 1001.47 billion) this fiscal, should be subject to a sunset clause so as to avoid rent seeking.
he government will allow holders of black money abroad to declare their wealth.
The advantage of leasing is that you can get a new car every few years. You can also get to drive a high-end car without paying its entire price.
India can attract significant FDI, says experts.
Financial planning expert Sailesh Multani offers some valuable investment tips.
Jaitley sets condition of 50% assets for applicability of capital gain tax.
Experts say the size of the fund shouldn't be a primary criterion for selection.
Higher online filing of returns that is expected in the ongoing financial year will enable faster processing of claims and hence a further increase in refunds.
Pitching for a non-adversarial tax environment, India Inc on Tuesday suggested reduction in tax rates on corporate as well as individuals to boost economic growth.
Here are some of the common mistakes that most home buyers make when it comes to home loans and how to avoid them.
Oil and gas players' wish list includes incentivising E&P investments and reintroduction of income tax holiday for exploration and production activities, among others.
Fuelled by rising passenger traffic and reviving local economies, the global airline industry is projected to record a net profit of $9.8 billion this year, IATA Director General Willie Walsh said on Monday and also made a strong pitch for having global standards for a Sustainable Aviation Fuel (SAF) book and claim system to help reduce carbon emissions. While addressing the Annual General Meeting of the International Air Transport Association (IATA) here, Walsh also flagged concerns about supply chain issues that are raising costs as well as limiting the ability of airlines to deploy aircraft. He also pointed out that decarbonising aviation is a serious issue and governments must not be allowed to use it to shore up exchequer finances.
All of us have made these mistakes, so let's begin by seeing how many of them we can avoid/minimise...
At least 10 persons were 'reported dead' in a fire that broke out inside a stationary train compartment in Madurai railway station in the wee hours of Saturday, the Southern Railway said, adding a 'gas cylinder illegally' taken in led to the blaze.
Embracing the habit of SIPs can pave the way for a financially secure and prosperous future, points out Misbah Baxamusa.
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