Britain's Cairn Energy has secured a French court order to seize 20 Indian govt properties to recover arbitration award, it is learnt.
Four-time world player of the year Lionel Messi would soon face trial for alleged tax evasion; a Spanish judge has ruled and might face a six year jail term if convicted.
The government's plan to mop-up additional revenue from indirect tax may not materialise
The various statements attributed to Chidambaram during his meetings with investors in Hong Kong and Singapore reveal a lot about the broad trend of ideas that would influence his next Budget.
The completely avoidable mess that the finance ministry found itself in was rather surprising, says Debashis Basu.
Investors need to evaluate how they stack up against other high credit quality fixed-income options before putting money in them.
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
Most large American companies earn more than 50 per cent of their revenue from markets outside the US and will be affected by the proposed tax reforms. Business groups in the US had assailed the proposal, arguing it would subject them to far higher taxes than their foreign competitors must pay and ultimately endanger US jobs. Global companies that earn profits in India are subject to a tax rate of 33.9 per cent and the impact of the proposed reforms on them would be marginal.
New government should consider reforming taxation rules.
It is welcome that the government tried to make its intentions clear last week - especially as risk concerns return to global markets.
After Air India, Britain's Cairn Energy PLC plans to target assets of state-owned firms and banks in countries from the US to Singapore as it looks to ramp up efforts to recover the amount due from the Indian government after winning an arbitration against levy of retrospective taxes. A lawyer representing the company said Cairn will bring lawsuits in several countries to make state-owned firms liable to pay the $1.2 billion plus interest and penalties that are due from the Indian government. Last month, Cairn brought a lawsuit in the US District Court for the Southern District of New York pleading that Air India is controlled by the Indian government so much that they are 'alter egos' and the airline should be held liable for the arbitration award.
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.
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.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
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.
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
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.
Mihir Tanna, Associate Director, S K Patodia & Associates, will answer your personal income tax queries.
Use deductions introduced in the Budget to save additional Rs 24,000 in tax
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.
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
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.
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.
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.
he government will allow holders of black money abroad to declare their wealth.
Financial planning expert Sailesh Multani offers some valuable investment tips.
India can attract significant FDI, says experts.
Jaitley sets condition of 50% assets for applicability of capital gain 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).
Experts say the size of the fund shouldn't be a primary criterion for selection.
