One of the most puzzling proposals in the 2018-19 Union Budget was the imposition of long term capital gains (LTCG) tax. Finance Minister Arun Jaitley
Category: Income Tax
TDS scam: 447 companies robbed tax department of Rs 3,200 crore, says report–Business Today–06.03.2018
Tax season is yet to really pick up pace in the country but tax scams are already hogging the headlines. Last month it was a
I-T Dept probes Rs 10-bn tax refund fraud by govt and PSU employees | Business Standard News–06.03.2018
With less than a month left for revising income-tax (I-T) returns for 2016-17, the I-T department has unearthed a giant fraud in multiple cities, where
LTCG tax: Gold, real estate may see revival over the next year | Business Standard Column–06.03.2018—–*****
The change in long-term capital gains (LTCG) tax on equity coupled to the related tax on equity-oriented funds could lead to significant changes in investment
Tax Changes [ Income Tax-Corporate Tax–Stamp Duty –LTCG ] : A Balancing Act- Business Today–28.02.2018
The recent buzz about Union Budget 2018 likely to be an election Budget, seems to be somewhat true. The Finance Minister, in his speech, paid
Taxing times?–LTCG–India Today–28.02.2018
The reimposition of long-term capital gains tax (LTCG) on equity investments elicited mixed reactions, but most industry experts believe it will not have a significant
I-T e-assessment: CBDT notifies new communication scheme – Business Line–28.02.2018—–*****
The Central Board of Direct Taxes (CBDT) has notified a new centralised communication scheme for serving e-notices to income tax-payers as part of the government’s
10 income tax rules which will change from April 1 – The Financial Express–27.02.2018—–*****
Budget 2018 didn’t make any changes in the tax rates or tax slabs for individuals and HUFs, which continue to remain the same for Assessment
Direct Taxes: Taxmen asked to step up collections to meet higher target – The Economic Times–26.02.2018
Faced with a daunting target of Rs 10.05 lakh crore, the apex decision-making body for direct taxes, CBDT, has asked its field officers to step
Budget 2018: Here’s what has changed for taxpayers, senior citizens – The Financial Express–11.02.2018
Budget 2018 belongs to Bharat (rural India) with special emphasis being laid on welfare of farmers, the socially and economically weaker sections of the society.
Sebi chief believes LTCG tax will have some impact on Indian markets | Business Standard News–11.02.2018
Volatility in the Indian markets may continue for some time due to global reasons, but there are no issues of concern for investors in terms
Businesses claim more tax breaks as accelerated depreciation than all deductions by individuals – Business Line–11.02.2018
Tax breaks availed by businesses under accelerated depreciation in 2016-17 are estimated to have cost the government more than the sum total of all deductions
LTCG on Equity: You cannot claim common tax breaks under Sections 80C to 80U for LTCG or STCG–10.02.2018
Any error while arriving at estimated tax liability can impact your tax outgo. It is that time of the year when many will be pouring
Why India’s capital gain regime needs a change | Business Standard Column–30.01.2018
The capital gains regime is due for a change and here are the reasons why — the extant law is complex, unwieldy, and far from
False income tax refund claims could attract these penalties – The Economic Times–26.01.2018
Fraudulently claiming tax refunds by misreporting income or showing false losses which reduce taxable income can attract heavy penalties. Section 270 of the Income Tax
Flipkart: Income Tax department asks Flipkart to reclassify discounts as capital expenditure – The Economic Times–24.01.2018
Flipkart has lost an appeal against the income-tax department over the reclassification of marketing expenditure and discounts as capital expenditure, which involves substantial tax liabilities.
Black money crackdown: Tax authorities to monitor purchases above Rs 6 lakh in luxury goods, jewellery–Business Today–19.01.2018
Fancy a Vertu Signature phone or perhaps a Hermes Birkin handbag? How about that piece of bling sported by your favourite actress in that advert?
No proof required: A direct outcome of demonetisation is a sharp increase in FY18 in tax buoyancy – The Financial Express–Mr. Surjeet Bhalla–18.01.2018
One strong argument against the policy of demonetisation is that it has failed to achieve its goal of catching black money—and it has brought about
Pursue the GST data to boost tax revenue–Economic Times–12.01.2018
India’s net direct tax collections reportedly grew by 18.2% in April-December 2017 from a year ago, with advance tax payments in December adding substantially to
Busting the myths on tax evasion – The Hindu–02.01.2018
Busting the myths on tax evasion More tax returns filed, among other statistics, show that we are not a country of evaders The Income Tax
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