Prime Minister Narendra Modi's idea of cooperative federalism is expected to be on display in the 2015-16 Budget.
So far, there seems to be limited debate about their activities in India, where virtually all FAANG companies have teamed up in different ways with India's most powerful businessman, observes T N Ninan.
Besides Vodafone, several other major MNCs like Nokia and Shell were locked in tax dispute with the revenue department.
'People try to repay the BIGGEST LOAN first. Actually, you should repay the most expensive loan first.'
The limit under the Liberalized Remittance Scheme (that was earlier $200,000 and now brought down to $75,000) is applicable per person per financial year.
The Securities and Exchange Board of India's (Sebi's) investigation into the Hindenburg allegations is making slow progress when it comes to obtaining information from overseas regulators, particularly around ultimate beneficial ownerships of certain foreign portfolio investors (FPIs), said people in the know. "Establishing ultimate beneficial ownerships for FPIs is a very complex exercise. "Several jurisdictions allow omnibus structures where the end beneficiaries are not required to be captured or are based in some other geographies.
Calculate the tax already paid via TDS, and accordingly arrive at your tax liability for the year.
The best possible way to deal with job uncertainty is accepting the fact that it could happen to anyone and if it does, then it is important to work on a multi-pronged strategy on how to get through it in the best possible manner, advises Sumit Sabharwal.
Move to address MNCs' taxation woes; UK likely to be the next.
New data show tax reform, better tracking needed
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Elections may be a few months away, but the government may get into election mode much earlier than that, predicts A K Bhattacharya.
Representatives of the British telecom company on Friday met senior finance ministry officials, in search of an amicable solution.
Taxpayers might face several issues while filing returns this year.
Salaried employees get several benefits under Sections 80C, 80D, 80G and others.
Ideally, tax-saving should not be looked at in isolation. It should be linked to a financial goal.
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Cabinet likely to pave way for the 'super-rich' tax today.
The AG said that due to Aadhaar, government has saved over Rs 50,000 crore on the schemes to benefit the poor as well as the pension schemes.
The money stashed away in tax havens is estimated at between $5.6 trillion and $32 trillion, numbers to make your eyes pop, asserts T N Ninan.
Buy from an established agent rather than a novice who may not be around when you need his assistance.
The industry employs about 10 million workforce.
The government, Jaitley said, is committed to detecting and preventing generation of black money
In Kerala, the use of black ranges from such convenience to strictures by community and religion to fashion and personal choice. One would have to be really insecure or too fond of the well settled life to see black solely as a badge of protest, points out Shyam G Menon.
With the new tax slabs applicable for income earned during Financial Year 2014-15 and host of new changes in income tax returns and filing norms, this e-filing season will certainly bring in a new experience for taxpayers. Here's how
Jaitley is expected to present a common man friendly Budget.
Group term insurance is far more cost-effective than an individual cover.
Following is the chronology of the main events illustrating Sunak's second shot at UK prime minister's post.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
A record GST tax collection, an overhaul of the income tax return filing portal and the landmark move to scrap retrospective taxation have set the stage for the next level of reforms in tax administration that include bringing a framework for cryptocurrencies and rationalising the GST rate structure. With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination. The task ahead is going to be a tough one as the tax department would grapple with taxing cryptocurrencies, rationalising Goods and Services Tax (GST) rates to shore up revenues and post June 2022, the scenario of how the GST revenue plays out for states without the Centre's support of compensation.
Asserting that his government will implement the five poll 'guarantees' promised ahead of the assembly polls, Karnataka Chief Minister Siddaramaiah on Wednesday said officials have shared their inputs on financial implications, and the cabinet will meet on June 2 to decide on the implementation.
The Central Board of Direct Taxes (CBDT) has extended various tax returns filing deadlines till December 31 this year but it will continue to levy interest on delayed payments made after July 31, the original due date. Officials say tax payment has to be done through net banking, and the assessee doesn't need to use the e-filing portal, which has been facing glitches. So, taxpayers have to bear the interest payment liability of 1 per cent per month on the outstanding tax for those who filed a return after July 31.
The note guides taxman to avoid seeking voluminous details.
Embattled Adani group has appointed accountancy firm Grant Thornton for an independent audit of some of its companies in a bid to come clean of the damning allegations levelled by the US short-seller Hindenburg Research and to assure investors and regulators. Sources said the audit is primarily to show to regulators like the Reserve Bank of India (RBI) that the group has nothing to hide and it is in compliance with relevant laws. The audit will specifically look into if there was any misappropriation or repatriation of funds and if loans were used for any purpose other than the one they were intended for.
Both Lok Sabha and Rajya Sabha did not see a debate on the Manipur violence, but Prime Minister Narendra Modi and Home Minister Amit Shah spoke on it during their addresses on the no-confidence motion.
The proposal will impact US-based companies like IBM, Hewlett Packard, Microsoft and Oracle that have overseas operations in countries like India.
Most people starting their careers feel liberated that they are finally earning money and, can actually spend it without seeking it from parents. They forget several important things, saving for the future, creating a retirement corpus and taxes.
There is no uniform rate for TDS deduction. Depending on the source of earnings, it can range from 1% for sale proceeds to 30%.
There is no proposal to modify income tax returns forms, finance ministry sources clarified when asked to comment on news reports that the purported statement of financial transactions expansion would result in the filing of high-value financial transactions in ITR by the taxpayers themselves.
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