The proposal will impact US-based companies like IBM, Hewlett Packard, Microsoft and Oracle that have overseas operations in countries like India.
Elections may be a few months away, but the government may get into election mode much earlier than that, predicts A K Bhattacharya.
Buy from an established agent rather than a novice who may not be around when you need his assistance.
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.
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.
There is no uniform rate for TDS deduction. Depending on the source of earnings, it can range from 1% for sale proceeds to 30%.
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.
Following is the chronology of the main events illustrating Sunak's second shot at UK prime minister's post.
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.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
The apex body said that the annual Indian software and service exports was expected to reach $50 billion by the year 2008 and of this Japan alone would account for three to four billion.\n\n
Group term insurance is far more cost-effective than an individual cover.
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.
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.
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.
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On the Congress accusing BJP of hypocrisy for its failure to disclose names, Jaitley said the Congress got it all wrong because media "completely misreported" the case.
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.
A division bench of Justices M Duraiswamy and R Hemalatha, which granted the interim stay, however, directed Vijay to remit the balance amount of 80 per cent of the entry tax levied on the import of his Rolls Royce Ghost Car from England in 2012.
If you are buying a bond to cater to your regular income needs, check the interest distribution schedule.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Discussing something as challenging as money should not be done through texts or calls in the middle of a stressful week or even a weekend before an important event, advises Ravi Mittal, CEO, Quack Quack, an online dating app.
That a brown skinned man -- albeit one who speaks with a posh English accent -- would one day be the front-runner in a race to elect Boris's successor and head the party once led by Churchill and Thatcher would seem indigestible to the white men and women who have formed the trunk of the Conservative party for generations.
Investors who decide to enter medium to long-duration funds should be cognisant of the risk.
Indian billionaires saw their combined fortunes more than double during the COVID-19 pandemic, and their count shot up by 39 per cent to 142, while the wealth of the ten richest is enough to fund school and higher education of children in the country for 25 years, a new study showed on Monday. In its annual inequality survey released on the first day of the World Economic Forum's online Davos Agenda summit, Oxfam India further said that an additional one per cent tax on the richest 10 per cent can provide the country with nearly 17.7 lakh extra oxygen cylinders, while a similar wealth tax on the 98 richest billionaire families would finance Ayushman Bharat, the world's largest health insurance scheme, for more than seven years. The COVID-19 pandemic saw a huge rush for oxygen cylinders and insurance claims during the second wave last year.
For more than a decade, sockpuppets - some of them being company employees - created 'puffery' around tycoon Gautam Adani, his family and the apples-to-airport group he helmed by adding non-neutral material and removing warnings from information on Wikipedia, the free internet-based encyclopedia has alleged. Adani, a first-generation entrepreneur, has lost over $70 billion in net worth and slipped to 25th rank on the world billionaire index from being Asia's richest and the world's third most wealthy businessman, in less than a month. This followed US short-seller Hindenburg Research accusing the group of accounting fraud, stock price manipulation and money laundering, allegations that the conglomerate has repeatedly denied, and threatened legal action.
Money Plus is yet another ULIP that does not give you returns.
The government on Thursday extended the due date of filing income tax returns for 2020-21 for individuals by two months till September 30. The Central Board of Direct Taxes (CBDT) has also extended the ITR filing deadline for companies by a month till November 30. As per the income tax law, for individuals whose accounts are not required to be audited and who usually file their income tax return using ITR-1 or ITR-4 forms the deadline to file ITR is July 31. The deadline for taxpayers, like companies or firms, whose accounts are required to be audited is October 31.
To ensure taxpayers are able to shield their e-filing against any fraudulent activity, the Income Tax Department on Monday introduced a new facility called e-filing vault.
A confident and wiser Australia are well-equipped to take the fight to India in a series that could literally be decided by a coin-toss, according to former Test bowler Ryan Harris.
It makes sense to wait for govt schemes such as gold bonds.
"Reform is not an end in itself. Reform for me is just a way station on the long journey to the destination. The destination is the transformation of India," he said.
Singapore is slated to bring in Singapore Variable Capital Company, a new legal entity which can be used as a vehicle for investment. SVACC is expected to simplify the process of redemption for open-ended funds.
Shares of hospital operators, health services providers and insurers rallied broadly
Despite the headwinds both on the domestic and global fronts, Ramesh S Damani, member, BSE and a prominent investor, says India will weather a global trade war better than a lot of other Asian countries.
'Banks will continue to increase FD rates to attract more deposits and meet the increasing demand for credit.'
'People trust India and Indians a lot more than they trust China and the Chinese.'
Having a single point KYC that is automatically used across all financial and non-financial entities is a single piece of reform that should be an easy win to achieve, points out Harsh Roongta.
India's economic image is not affected due to Adani Group's recent decision to pull out Rs 20,000 crore FPO (follow-on public offers) amid allegations of financial wrongdoings, Finance Minister Nirmala Sitharaman said on Saturday.
Nikunj Saraf, Vice President Choice Wealth, answers your queries
