Kings XI Punjab on Wednesday rubbished reports that the team was sent a notice for non-payment of entertainment tax after their first match match of the fourth edition of the Indian Premier League (IPL) in Mohali.
India is well positioned to lead the global transitions of digital and artificial intelligence, energy, value supply chains, and the country's growth journey will shape the world's future, B20 India chair N Chandrasekaran said on Friday. In his address to the B20 Summit India 2023, Chandrasekaran, who is also the chairman of Tata Sons, asserted that India stands as a beacon of growth and positively stands out in the global economy, which is facing strong headwinds, tightest rate cycle in decades and record levels of public debt. "The world is currently navigating through three important fundamental transitions.
'However, to establish a quid pro quo, one can potentially see several things, like whether they got any benefits from the party that they gave money to. That is something that people (of India) will gauge. But to finally establish that there was money paid as consideration, it would require an investigation, a proper investigation, to be able to come up with such conclusions.'
The new 10 per cent dividend tax will be payable only on dividend income over and above Rs 10 lakh threshold in a year, according to an amendment to the Finance Bill 2016 approved by Lok Sabha.
UK oil explorer Cairn Energy is facing a tax demand of Rs 10,247 crore and Vodafone over acquisition of 67% stake in the mobile business owned by Hutchison Whampoa in 2007
Vodafone India on Thursday launched tariff plans wherein customers can get calls, SMSes and 3G data bundled with an iPhone starting at Rs 2,099 per month.
Indian tax laws offer start-ups ways to save taxes.
Higher oil prices, while not having an impact on Centre's revenues due to fixed tax rate, are pushing up states' sales tax revenue.
The Union government will soon make amendments to the foreign trade policy (FTP) to enable exporters to claim export benefits for settling trade in rupees. These benefits are, so far, available for export payments received in foreign currencies. After the Reserve Bank of India (RBI) unveiled a mechanism to settle international trade transactions in the local currency on Monday, exporters have been demanding that the Ministry of Commerce and Industry come up with a clarification on the matter.
The company moved the income-tax appellate tribunal and its appeal is pending there.
While ECBs are pure loans, FCCBs have an in-built option for the lender to convert them into equity of the companies on maturity. Both in ECB and FCCB, till maturity, the borrower is expected to make interest payments on the amount borrowed. Incidentally, the AAR ruling of October 10 had been sought by a non-banking finance company. Till October 31, NBFCs were not allowed to borrow funds from overseas in foreign currency.
If you're a salaried person there are many ways to save taxes
Manipal Group chairman Ranjan Pai is in early discussions to invest in Byju's-owned Aakash Educational Services Limited (AESL). According to sources in the know, Byju's founder and chief executive officer Byju Raveendran, who owns a 30 per cent stake in Aakash, is expected to partially offload his holding to Pai for $80-90 million (about Rs 650-740 crore). Raveendran may use the money to repay a large part of the Rs 800 crore loan that Byju's raised from US-based investment firm Davidson Kempner Capital Management in May, after facing a 'technical default', the sources said.
Call money rate touches an intra-day peak of 30%.
The government initiated the process for amendment to the Payment of Gratuity Act, 1972, which applies to establishments employing 10 or more persons.
Should you go for a salary structure with high basic component? Is there a flip side to it?
Kingfisher Airlines was found to have deducted tax at source on salary payments but had not deposited it in government account, Minister of State for Finance S S Palanimanickam said in a written reply.
Punj Lloyd voluntarily deposited Rs 1.06 crore (Rs 10.6 million) on the spot through challans when excise officials visited them during an investigation in the matter.
Both prime ministers believed in crafting schemes to help the common man. Modi used quite effectively the instruments Dr Singh introduced. In assessing Modi's success with many schemes, Dr Singh's fundamental work should not be ignored, points out A K Bhattacharya.
Budget may allow use of advance-pricing agreements for past cases.
Promising a carrot and stick policy, Finance Minister P Chidambaram on Wednesday said taxmen will use annual information report, tax information network and the new bank cash transaction tax to track tax evaders.\n\n
The middle class is a big force to fulfil dreams of a prosperous and developed India and our government has taken many decisions to empower it, the prime minister said.
Here's a ready reckoner on how to calculate your tax dues so that you can plan your investments accordingly.
The GST Council had given the option to real estate companies to either opt for old rates of 12% (for residential) and 8 per cent (affordable housing) with ITC benefits or the new tax rates of 5% for residential units and 1% for affordable housing without the benefit of adjusting the credit on inputs used during construction.
Blame the voter, who invariably chooses the promise of hand-outs today in preference to a vague promise of, say, better schools tomorrow. Getting the Supreme Court to issue an edict, or Parliament to pass a law, is no solution, observes T N Ninan.
The income tax department on Monday released rules for equalisation levy - a tax on online advertisements that would come into effect from June 1.
Replying to the debate on the Finance Bill in Lok Sabha, the minister said he did not propose any change in the tax rate but only provided few rebates which will boost spending and help the economy.
The court directed the NHSRCL to file a correction statement within a month to the effect that the TDS deducted by it while paying the compensation amount to Patil was not liable to be deducted.
Certain clarifications by the GST Council, such as tax rates on ice cream parlours and royalty paid to state governments over mineral rights, may turn out to be contentious and lead to litigation, feel some experts. The council, at its meeting in Lucknow on Friday, had clarified that ice cream parlours will attract goods and services tax (GST). The clarification said these parlours sell already manufactured ice cream and such supply would draw 18 per cent tax.
There will be a lot to repair and rejuvenate -- if that opportunity even presents itself, warns Rathin Roy.
With investors asking for a change in the board structure at Byju's, the edtech giant's founder and chief executive officer (CEO), Byju Raveendran, is now asking them to put $300 million into the company for more control. The company has rung up $5.8 billion from investors such as General Atlantic, Sofina, the Qatar Investment Authority, Sumeru Ventures, Vitruvian Partners, BlackRock, Chan Zuckerberg Initiative, Sequoia, Silver Lake, Bond Capital, Tencent, and Tiger Global.
Whether salaried or running your own business, it's about time to get your investment proofs in tax-saving instruments ready for filing your income tax returns later this year.
DDT is levied at the rate of 20% on dividend paid by cos to shareholders.
The revenue will accrue to the government as the organisations will be required to deduct tax at source while making payments to players, umpires, coaches, commentators and others involved with the tournament.
The government has increased the tax exemption limit under the Senior Citizen Savings Scheme, 2004, to Rs 10,000 from Rs 5,000
In yet another setback to Finnish handset maker Nokia, the Tamil Nadu government has slapped on it a Rs 2,400 crore (Rs 24 billion) tax demand notice related to the devices sold from its Chennai factory.
An NCD's credit rating will tell you whether risk possibility is high or low. Instruments rated below AA are regarded as high-risk.
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