Clipped from: https://www.business-standard.com/article/opinion/good-sense-finally-121080501755_1.html Govt wasted nine years in trying to defend the indefensible retro tax The government has introduced the Taxation Laws (Amendment) Bill, 2021, which seeks to
Category: Income Tax
Move to do away with infamous retro tax will boost investment sentiments | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/move-to-do-away-with-infamous-retro-tax-will-boost-investment-sentiments-121080501695_1.html The Bill now introduced in the Parliament proposes to provide that no tax demand shall be raised on indirect transfers effected prior to
Retro tax must be resolved via Indian law, not arbitral award: Somanathan | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/retro-tax-must-be-resolved-via-indian-law-not-arbitral-award-somanathan-121080600035_1.html Somanathan says that the government doesn’t support retrospective taxation since it creates sudden and fresh liability and is not in line with the
Govt buries retro taxes; brings bill in LS to withdraw tax demand on Cairn, Vodafone – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/govt-buries-retro-taxes-brings-bill-in-ls-to-withdraw-tax-demand-on-cairn-vodafone/article35748351.ece?homepage=true – The Government will refund the money collected earlier without any interest In a bid to bury the ghost of retrospective taxation, the
Experts welcome govt’s move to bury retro tax, but with riders | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/experts-welcome-govt-s-move-to-scrap-retrospective-tax-121080501275_1.html They, however, say are not sure if the lack of interest and costs payable by govt will satisfy all litigants Photo: PIB India
Tax Query: Treatment of ‘bullock rent’ income – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-treatment-of-bullock-rent-income/article35514560.ece I got retired from a PSU in May 2020. My earnings for FY2020-21 comprise regular salary for April 2020 and May 2020, retirement
New vs old tax regime: Compute liability before making the switch | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/new-vs-old-tax-regime-compute-liability-before-making-the-switch-121080301966_1.html?utm_source=Spotlight&utm_medium=website&utm_campaign=Premium_11072018 Non-investors in tax-saving instruments may opt for the new regime Taxpayers having income from business or profession also have to opt-in for the
विमा प्राप्तिकर कायदा | Loksatta
Clipped from: https://www.loksatta.com/arthvrutant-news/insurance-income-tax-act-business-ssh-93-2548633/ जीवन विम्याव्यतिरिक्त आरोग्य विमा (मेडिक्लेम) हादेखील लोकप्रिय आहे. करावे कर-समाधान प्रवीण देशपांडे गुंतवणुकीच्या पर्यायांमध्ये ‘जीवन विमा’ हा लोकप्रिय पर्याय आहे. हे क्षेत्र खासगी कंपन्यांना
Demand notice must be served properly to buyer | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/demand-notice-must-be-served-properly-to-buyer-121080100730_1.html The purchaser couldn’t be termed a defaulter since the demand letter had not been served properly, and especially when he paid the amount
Don’t forget mandatory disclosures while filing your income-tax returns | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/don-t-forget-mandatory-disclosures-while-filing-your-income-tax-returns-121073000951_1.html Failure to do so might render the ITR (Income-Tax Returns) defective and invite an income tax notice and penalties Albert Einstein once said,
Tax reassessment past deadline is a symptom | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/tax-reassessment-past-deadline-is-a-symptom-121080100886_1.html ‘Over the years this government, obsessed with alliterative dazzle, has talked about transparent taxation and honouring the honest’, says the author Every few
The Reform NPS Withdrawals Need – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/the-reform-nps-withdrawals-need/articleshow/84954633.cmsSynopsis Exiting subscribers should be free to invest in any capital asset of their choice that offers a steady stream of income. Today, when
All you need to know about transfer of property to NRI children – The Economic Times
Clipped from: https://economictimes.indiatimes.com/nri/invest/all-you-need-to-know-about-transfer-of-property-to-nri-children/articleshow/84232351.cmsSynopsis For starters, any transfer of property to non-resident Indians (NRIs) and persons of Indian origin (PIOs) must comply with the Foreign Exchange Management
Businesses can now self-certify GST returns, instead of mandatory CA audit | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/businesses-can-now-self-certify-gst-returns-instead-of-mandatory-ca-audit-121080100227_1.html GST taxpayers with a turnover of over Rs 5 crore can now self-certify their annual return, instead of a mandatory audit certification by
Simply Put: New tax regime – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/simply-put-new-tax-regime/article35656575.ece If offers lower tax rates but without the benefit of most deductions and exemptions A phone call between two friends leads to a
Tax Query: Setting off capital losses in delisted shares – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/portfolio/personal-finance/tax-query-setting-off-capital-losses-in-delisted-shares/article35657286.ece Kindly guide whether there is any method by which capital loss under Income Tax provisions can be set off against the shares which
Foreign card payment companies may have to shell out more taxes once data servers are set up – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/foreign-card-payment-companies-may-have-to-shell-out-more-taxes-once-data-servers-set-up/articleshow/84911998.cmsSynopsis A large part of the income generated by these companies in India is outside the domestic tax net as they did not have
Delhi HC set aside order passed by AO as no personal hearing was granted to assessee–taxguru.in
Clipped from: https://taxguru.in/income-tax/delhi-hc-set-order-passed-assessing-officer-personal-hearing-granted-assessee.html Naresh Kumar Goyal Vs National Faceless Assessment Center & Ors. (Delhi High Court) Naresh Kumar Goyal (Petitioner) challenged the show cause notice and the draft
I-T Dept detects unaccounted transactions of ₹400 cr after raids on ‘pan masala’ group – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/i-t-dept-detects-unaccounted-transactions-of-400-cr-after-raids-on-pan-masala-group/article35629506.ece Searches were carried out on 31 premises of the group which is also involved in the real estate business The Income Tax Department
Income tax benefits, rebates that senior citizens enjoy – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-benefits-rebates-that-senior-citizens-enjoy/2301294/ Under the Old Income Tax Regime, senior citizens, having income from salary, rent and interest income, enjoy additional tax benefits and rebates compared
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