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
Finance Minister Arun Jaitley takes a protectionist stance in favour of domestic companies, increases customs duty on certain products.
'Our passionate love for our nation as seen in our anger at slogan shouters does not extend to caring for the nation in other ways. We are one of the dirtiest people on earth and even our holiest river the Ganga can only be cleaned if the Supreme Court orders it, and even then with difficulty,' says Aakar Patel.
If the refund is wrongly adjusted against any past tax liability, immediately clarify it online
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After setting up a committee under N Rangachary last year to look at taxation issues regarding the sector, the government has issued several notifications in the last eight months.
Penalty can be levied at 100-300 per cent of the tax evaded, while tax is imposed at the highest rate of 30 per cent.
Those taking up a job abroad should notify their bank about the change in status and open appropriate NRI accounts
From the date you put in your papers, the employer will promptly freeze your salary payouts and you will get everything along with the full and final settlement.
Use deductions introduced in the Budget to save additional Rs 24,000 in tax
Returns for income earned till FY12-13 can be filed till March 31.
Structural changes to government finances could be focus of the Union Budget, says Mihir S Sharma.
Calculate the tax already paid via TDS, and accordingly arrive at your tax liability for the year.
Unless they have capital gains or assets abroad, most individuals will need to file ITR-1 or ITR-2A.
To provide similar extended time limit for payment of tax deducted from payments made to non-residents, it is proposed that the deductor shall be allowed to claim deduction for payments made to non-residents in the previous year of payment.
This taxation applies to all types of transfer of property.
The abolition of wealth tax is again a welcome step.
There are millions of taxpayers, all of whom are susceptible to this frustrating situation.
Even after filing your income tax return online, your job won't still be over! Here is a six-point checklist for taxpayers to be observed after e-filing of ITR.
Getting US citizenship will in no way affect your right of being able to own or hold the agricultural land in India.
We have cleared all dues to our employees, says Ajay Singh
The Urjit Patel committee on monetary policy framework has proposed setting up of a monetary policy committee (MPC) that will be headed by the Reserve Bank of India (RBI) governor and accountable for achieving inflation target set by it.
A K Bhattacharya digs into the yet-to-be-public report on ways to curb black money and finds out that Modi's next moves could include action on dabba trading, hawala, and education.
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