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
Category: Income Tax
Income Tax searches on Ramky Group reveals huge tax evasion; ₹1,200 crore made up loss – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/national/income-tax-searches-on-ramky-group-reveals-huge-tax-evasion-1200-crore-made-up-loss/article35232998.ece?homepage=true The documents recovered indicate that the loss was artificially created to set off the respective capital gains Following a search and seizure operation
I-T assessments hit as e-filing portal’s communication with back-end broken | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/i-t-assessments-hit-as-e-filing-portal-s-communication-with-back-end-broken-121070800906_1.html A host of activities have been stalled on the upgraded e-filing portal; banks seek undertaking from customers for overseas payment Representational image Even
Tax Talk: Do shares come under the ambit of ‘goods’? – The Financial Express
lipped from: https://www.financialexpress.com/money/income-tax/tax-talk-do-shares-come-under-the-ambit-of-goods/2286623/ Clarity from the tax department is needed on TDS implications on transactions in unlisted shares and securities While the Sale of Goods Act,
Short-Term Capital Gains: New goodwill rule seen imposing tax liabilities on firms – The Financial Express
Clipped from: https://www.financialexpress.com/economy/short-term-capital-gains-new-goodwill-rule-seen-imposing-tax-liabilities-on-firms/2286672/ Finance Act, 2021, had amended that ‘goodwill’ will no more be regarded as an “intangible asset” and depreciation would be not be available
The good and the bad of global corporate tax proposal – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/data-stories/data-focus/the-good-and-the-bad-of-global-corporate-tax-proposal/article35172388.ece?homepage=true On July 1, India, along with 130 other countries which are signatories to the OECD’s BEPS (Base Erosion and Profit Shifting) framework, agreed
Firms slap ‘double TDS’ notices on shareholders – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/stock-markets/firms-slap-double-tds-notices-on-shareholders/article35200973.ece?homepage=true Confusion over linking of PAN, Aadhaar with demat and bank accounts Several thousand stock market investors and individual taxpayers said they have received
ITR filing: How banks, mutual funds and companies will check if you have filed ITR – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-banks-mutual-funds-and-companies-will-check-if-you-have-filed-itr/articleshow/84057122.cmsSynopsis Deductors of TDS/TCS like banks, mutual fund houses etc can now check if you have filed ITR when your income crosses the TDS
करावे कर-समाधान : ..तर अधिक उद्गम कर | Loksatta
Clipped from: https://www.loksatta.com/arthvrutant-news/tax-information-tax-satisfaction-originate-more-bank-ssh-93-2519089/ अशीच तरतूद प्राप्तिकर कायद्यात ‘२०६ एबी’ आणि ‘२०६ सीसीए’ ही दोन कलमे जोडून करण्यात आलेली आहे. प्रवीण देशपांडे pravin3966@rediffmail.com विवरणपत्र भरणाऱ्यांची संख्या मागील
IT Dept gives more time for manual filing of 15CA/CB forms – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/it-dept-gives-more-time-for-manual-filing-of-15cacb-forms/article35157313.ece Date extended till July 15 The Income Tax Department on Monday extended permission for submitting form 15CA/15CB manually with authorised dealer for the
Businesses need not deduct TDS on share/commodity purchases via exchanges: CBDT – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/businesses-need-not-deduct-tds-on-share/commodity-purchases-via-exchanges-cbdt/articleshow/84110730.cmsSynopsis With effect from July 1, 2021, the income tax department has introduced a provision relating to Tax Deducted at Source (TDS)which would be
New TDS deduction rules: Everything you need to know – BusinessToday
Clipped from: https://www.businesstoday.in/latest/trends/story/new-tds-deduction-rules-everything-you-need-to-know-300381-2021-07-03 New TDS rules: The changes will be applicable for persons who have not filed the returns of income for two assessment years and
CBDT issues rules for taxing partnership companies in India – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/cbdt-issues-rules-for-taxing-partnership-companies-in-india/articleshow/84091536.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The Central Board of Direct Taxes (CBDT) has said that capital assets, money or stock in trade received by a partner in a
India joins 130 nations to back minimum corporate tax plan – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/india-joins-global-minimum-tax-rate-plan/article35092841.ece In favour of consensus solution that is simple to implement and comply India on Thursday joined the world’s leading economies in endorsing a
New TDS/TCS regime from July 1 – are you ready? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/policy-trends/new-tds/tcs-regime-from-july-1-are-you-ready/articleshow/83944077.cmsSynopsis The new provision coming into effect requires both sellers and buyers to undertake due diligence w.r.t. tax return filing status of the other
Your Queries (Income Tax): Use ITR Form 1 if you have income from salary and dividend only – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/your-queries-income-tax-use-itr-form-1-if-you-have-income-from-salary-and-dividend-only/2280783/ Assuming that you have income only from salary and dividends, you may continue to declare income in ITR-1. Disclosure may be made under
New TDS/TCS regime from July 1 – are you ready? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/policy-trends/new-tds/tcs-regime-from-july-1-are-you-ready/articleshow/83944077.cmsSynopsis The new provision coming into effect requires both sellers and buyers to undertake due diligence w.r.t. tax return filing status of the other
Have sunset clause for economic laws constraining growth: Vijay Kelkar – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/have-sunset-clause-for-economic-laws-constraining-growth-vijay-kelkar/articleshow/83960998.cmsSynopsis Kelkar, who has also served as the Union finance secretary, cited the Land Act and Rent Act while illustrating the constraints posed by
Tax cuts for individuals, companies needed to boost demand, say economists | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/tax-cuts-for-individuals-companies-needed-to-boost-demand-say-economists-121062801313_1.html While the measures announced on Monday are focussed more on the supply side, these steps would take a lot of time to move
Tax system must become less iniquitous | Deccan Herald
Clipped from: https://www.deccanherald.com/opinion/main-article/tax-system-must-become-less-iniquitous-1000460.html High excise on fuel, lower corporate tax and huge unrealised capital gains in a booming stock market are increasing disparity Tripura Pradesh Congress
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