Clipped from: https://economictimes.indiatimes.com/blogs/et-editorials/clarify-taxation-of-pf-contributions/ET Edit Quick takes, analyses and macro-level views on all contemporary economic, financial and political events. The government needs to clarify, at the earliest,
Category: Income Tax
Taxman puts mutual fund houses, HNIs on watch over past dividend stripping – The Economic Times
Clipped from: https://economictimes.indiatimes.com/mf/mf-news/taxman-puts-fund-houses-hnis-on-watch-over-past-dividend-stripping/articleshow/81676349.cmsSynopsis Sends notices asking for information on payouts and redemptions during FY14 to FY20 period Old deeds have come back to irk some of
Amendments to the Finance Bill 2021 plug tax loophole in slump sale | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/amendments-to-the-finance-bill-2021-plug-tax-loophole-in-slump-sale-121032500064_1.html Amendments to the finance Bill, 2021, say that fair market value (FMV) will be taken as consideration of the sale Finance Minister Nirmala
Asset distribution to partners will attract capital gains tax | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/finance-bill-asset-distribution-to-partners-will-attract-capital-gains-tax-121032500058_1.html Various courts and tax authorities have ruled both in favour and against imposition of capital gains in such cases. Most law firms and
Success of PLI scheme depends on how well Apple’s India plans shape up | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/success-of-pli-scheme-depends-on-how-well-apple-s-india-plans-shape-up-121032301454_1.html India is to be Apple’s second significant global hub The crucial issue is the government’s restrictions on Chinese foreign direct investment, which could
Property taxation: Both untapped and unrealised – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/property-taxation-both-untapped-and-unrealised/2218867/ Property tax collection as a proportion of GDP is 1.1% in the OECD, but only 0.2% in India At the same time, state
Nirmala Sitharaman tweaks tax provisions for EPF contributions, says ready to discuss GST on fuel if States want it – The Hindu
Clipped from: https://www.thehindu.com/business/Economy/nirmala-sitharaman-tweaks-tax-provisions-for-epf-contributions-says-ready-to-discuss-gst-on-fuel-if-states-want-it/article34144375.ece?homepage=true EPF cap raised to ₹5 lakh if there is no contribution by the employer. The Centre is ready to consider bringing fuel under
With more information than salary, interest income, tax paid, how Form 26AS will affect ITR filing? – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/with-more-information-than-salary-interest-income-tax-paid-how-form-26as-will-affect-itr-filing/2217985/ The taxpayers were able to take the advantage so far, because the Income Tax Department used to get information related to just income
Income Tax for non-residents: Stranded in India & facing double taxation? New CBDT circular explained for you – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-for-non-residents-stranded-in-india-facing-double-taxation-new-cbdt-circular-explained-for-you/2214889/ Income Tax for non-residents: Due to the coronavirus outbreak and subsequent lockdown last year (2020), many non-residents were stuck in India due to
Do you need to invest only the gain amount or entire sale value of house property to save tax? – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/do-you-need-to-invest-only-the-gain-amount-or-entire-sale-value-of-house-property-to-save-tax/2213309/ If a house property is sold within 24 months from the date of purchase, the gain amount, if any, is considered as Short-Term
करावे कर-समाधान : गुंतवणूक लाभ आणि कर आकारणी | लोकसत्ता
गुंतवणुकीचे अनेक पर्याय नागरिकांना उपलब्ध आहेत. वेगवेगळ्या उद्देशांनुसार गुंतवणूक केली जाते. प्रवीण देशपांडे गुंतवणुकीच्या प्रकारानुसार, कालावधीनुसार, त्यावरील लाभाची करपात्रता ठरते. कराचा भाग मोठा व उत्पन्नाला
Software royalty case: How SC upheld the primacy of tax treaties over domestic tax law – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/software-royalty-case-how-sc-upheld-the-primacy-of-tax-treaties-over-domestic-tax-law/articleshow/81498824.cms Synopsis–Rejecting the revenue’s plea that persons required to deduct tax at source do not fall within the subject matter of tax treaties, it
Budget underestimates taxes for FY21 and FY22 – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/budget-underestimates-taxes-for-fy21-and-fy22/2210152/ The actual tax collection in FY21 could be of about Rs 21.25 lakh crore. This will have an impact on the budgeted estimates
What are income tax rates and slabs under the new tax regime? New tax regime benefits, Income tax slabs and income tax rates
Clipped from: https://economictimes.indiatimes.com/wealth/tax/what-are-income-tax-rates-and-slabs-under-the-new-tax-regime/articleshow/81405066.cmsSynopsis Unlike in the old tax regime where the highest tax rate of 30% is levied on individuals having income starting from Rs 10,00,001,
Tax raids, and not just on Tapsee Pannu, are a bad idea – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/tax-raids-and-not-just-on-tapsee-pannu-are-a-bad-idea/2208659/ In the past, tax raids add just a small fraction to the assessee’s income, and even those cases often fail The Income Tax
income tax saving: Using only 80C for tax saving? New tax regime may be beneficial for you at this income – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/using-only-80c-for-tax-saving-new-tax-regime-may-be-beneficial-for-you-at-this-income/articleshow/81342868.cmsSynopsis From FY 2020-21, an individual can continue with the old tax regime and avail common deductions such as section 80C, section 80D etc.
CBDT note to face fresh Supreme Court challenge from NRI – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/cbdt-note-to-face-fresh-supreme-court-challenge-from-nri/articleshow/81354433.cms Story outline NRIs who stay 182 or more days have to pay tax on global income NRIs stuck in India were hoping for
Payments by Indian firms for foreign software not taxable: Supreme Court | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/payments-by-indian-firms-for-foreign-software-not-taxable-supreme-court-121030201524_1.html The court held that there is no liability for Indian companies to deduct tax at source with respect to purchase of software from
NRIs, foreign nationals stranded in India to submit details of double taxation by March 31 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/nri/migrate/nris-foreign-nationals-stranded-in-india-to-submit-details-of-double-taxation-by-march-31/articleshow/81317056.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis In a circular, the CBDT said that if any individual is facing double taxation even after taking into account the relief provided by
करावे कर-समाधान : ज्येष्ठ नागरिक आणि प्राप्तिकर सवलती | लोकसत्ता
Clipped from: https://www.loksatta.com/arthvrutant-news/article-on-senior-citizens-and-income-tax-concessions-abn-97-2410505/ कमाल करमुक्त उत्पन्नाची मर्यादा ज्येष्ठ नागरिकांसाठी ३ लाख रुपये आणि अतिज्येष्ठ नागरिकांसाठी ५ लाख रुपये आहे. (संग्रहित छायाचित्र) प्रवीण देशपांडे ज्येष्ठ नागरिकांना योग्य
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