Tax

Robust tax revenues this fiscal to improve tax-GDP ratio: Revenue secretary Tarun Bajaj

The governments’ gross tax collections (after refunds but before devolution) stood at Rs 5.31 lakh crore in Q1FY22, 97% higher than receipts of Rs 2.7 lakh crore in the Covid-affected Q1FY21 and 33% higher than the tax rece

GST

Retrospective Tax Law: Good riddance to a bad taxation approach

The move to defang the 2012 retrospective tax law will boost investor sentiment

As was expected, the 2012 law drew the ire of investors as well as global taxpayer fraternity.

Govt proposes to withdraw retrospective tax bill that hounded Vodafone, Cairn for years

The amendment to the Income-Tax Act, 1961, which received the President’s assent in May 2012, allowed the government to ask companies to pay taxes on mergers and acquisitions that happened before that date.

The law, widely contested in the courts, hounded Vodafone for years over its acquisition of Hutchison’s India telecom stake.

GST bonanza for old gold jewellery buyers; now pay tax only on difference between purchasing, selling price

When any product is purchased, it is loaded with GST. When a business entity resells the same product after refurbishing, tax is again charged on the value, resulting in double taxation

gold, GST

Short-Term Capital Gains: New goodwill rule seen imposing tax liabilities on firms

Finance Act, 2021, had amended that 'goodwill' will no more be regarded as an “intangible asset” and depreciation would be not be available with effect from April 2020.

The Income Tax Act, 1961, was amended to the extent that goodwill will have to be removed from the block of asset as on April 1, 2020, such value to be reduced will be cost of goodwill, net of depreciation claimed till date.

Tax Talk: Do shares come under the ambit of ‘goods’?

Clarity from the tax department is needed on TDS implications on transactions in unlisted shares and securities

While the Sale of Goods Act, 1932(SOGA) defines 'goods' to include stocks and shares within its genre, a matching definition in Central Goods and Services Tax Act 2017 (CGSTA) excludes securities from its ambit.

Tax On Mutual Funds: म्यूचुअल फंड्स से हुई कमाई पर कैसे लगता है टैक्स, जानिए क्या कहते हैं आयकर के नियम?

Mutual Fund Taxation: म्यूचुअल फंड में निवेश का एक बड़ा फायदा इसका टैक्स एफिशिएंट होना भी है.

how mutual fund return tAXED KNOW HERE IN DETAILS AND MAXIMIZE YOUR RETURN

Covid relief: No income tax on financial aid for treatment; exemption to ex-gratia received by kin of deceased

It also extended the due date of various compliances, including the last date of linkage of Aadhaar with PAN from June 30 to September 30, 2021, as well as last date for payment under Vivad se Vishwas by 2-4 months.

It also extended the due date of various compliances, including the last date of linkage of Aadhaar with PAN from June 30 to September 30, 2021, as well as last date for payment under Vivad se Vishwas by 2-4 months.

Tax automation: Easing GST compliance and taxation with technology solutions

Leveraging Artificial Intelligence, Avalara aims to make a mark in the Indian market by addressing dynamic taxation and accounting needs of businesses

Manjula Muthukrishnan, MD —India operations, Avalara

Advance tax collections rise 150% in Q1 on low base

The net direct tax collections include corporation tax (CIT) at Rs 74,356 crore and personal income tax (PIT), including security transaction tax (STT), at Rs 1,11,043 crore as on June 15.

Refunds declined 32% to Rs 30,731 crore as on June 15 of FY22 compared with Rs 45,143 crore in the year-ago period.

How India is leading by example with its faceless E-assessment system for income tax

The most important aspect of new procedure is coverage of ‘Best judgement assessment’ in faceless Assessment Scheme.

The government should consider doubling the limits under Section 80D.

No backdate entries, recovery cases, more return filing, others help tax officers to up GST collection

Every taxpayer in India spends a good deal of time and money in undertaking tax compliance and procedures, still the fear of departmental scrutinises and assessments looms over them.

GST, goods and services tax, tax, world bank

System generated returns under GST to accelerate digitization; more GST reforms may boost taxpayer confidence

Majorly, at present two returns are required to be filed by every registered taxpayer. GSTR-1 and GSTR-3B. GSTR-1 is a sales return that is required to be filed by every GST registered person

The collection figure crossed Rs 1 lakh crore despite the fact that most states have been under strict lockdown due to the pandemic, the ministry said.

REITs in India: How REITs are listed on stock exchanges; check dividend, tax benefits for investors

Real Estate Investment Trust (REIT) -- the new kid on the Indian bourses -- offers an exciting investment opportunity for investors and corporations, and a unique vehicle for issuers to access capital.

REITs have emerged as a potent asset monetisation tool. With three REIT listings in India, the door has opened for more potential REIT listings from FY22E onwards.

Income Tax Budget 2021 Highlights: What Budget says for home buyers, EPF, ULIP, NRIs, Senior Citizens

Budget 2021 Income Tax Slabs and Rates, Income Tax Budget 2021 Announcements Updates: Ahead of the Budget presentation, income tax experts and professional bodies like ICAI recommended the government to increase the deduction

No Change in Income Tax Slab, Budget 2021 Income Tax Slabs and Rates Union Budget 2021 Income Tax Slabs Live Updates

Budget 2021: Taxpayers eye relief in income tax, slash in TDS, increase in 80C limit, among other reforms

Union Budget 2021 India: In the midst of an economic slowdown induced by the ongoing pandemic, the Hon’ble Finance Minister must grapple with the challenging task of encouraging consumption for economic revival.

Budget 2021-22, Union Budget 2021

Union Budget 2021 must rationalise taxation of dividends on REITs, InvITs to attract more investment

Union Budget 2021 India: Before the Finance Bill, 2020 was enacted, the Finance Minister provided certain relaxations to address the concerns of the Business Trust industry.

Budget 2021-22, Union Budget 2021

Union Budget 2021: No major tax changes on cards; government to focus on these sectors

Union Budget 2021 India: The variations across formal versus informal, rich versus poor, manufacturing versus services, fiscal profligacy versus rectitude, among others form the backdrop of the budget.

These tax, legal reforms in Budget 2021 may boost Indian economy as tax revenue seen at record low

Union Budget 2021 India: In addition to serious health implications for the humankind, the unrelenting crisis has left an indelible impact on economies across the world as well.

Budget 2021-22, Union Budget 2021

Taxpayers eye Union Budget 2021; PLI scheme, labor tax reforms, others, may aid Atmanirbhar Bharat vision

Union Budget 2021 India: Stakeholders have high expectations from the upcoming Union Budget for introducing measures to foster indigenous businesses.

Budget 2021-22, Union Budget 2021

Capital markets eye Union Budget 2021; TCS, STT rebate, among 6 expectations from Finance Minister

Union Budget 2021 Expectations for Share markets: While the Indian economy appears to be getting back on track and capital markets which are seen to be the barometers of the economy seem to show all-time high positive sentime

share market Budget 2021 Expectations, Budget 2021 Expectations for share market

Smarter Addressing imperative for better property taxation

Though many ULBs (Urban Local Bodies) have invested in technologies like GIS mapping, the challenge is in making this data dynamic and connected to growth on the ground.

property taxation in india

4 ways how current taxation system may ease compliance and boost ease of doing business for MSMEs

Ease of Doing Business for MSMEs: Considering the fact that we majorly depend on MSMEs for employment, exports, and GDP contribution, the finance ministry is striving to facilitate their exponential growth and expansion. Howe

NPS, tax benefits, savings, section, APY, contribution, pension, withdrawals,

बकाया सैलरी नहीं मिली है तब भी देना होगा टैक्स, एक्सपर्ट से समझें

वर्तमान संकट से कर्मचारियों के टैक्स आउटगो पर क्या असर होगा और उन्हें वर्तमान स्थिति

राहत! 31 मार्च 2021 तक इन विशेष भुगतान के लिए 25% कम देना होगा TDS, TCS; कल से ही फैसला लागू

नॉन सैलरीड स्पेसिफाइड पेमेंट के लिए 31 मार्च 2021 तक टीडीएस रेट में 25 फीसदी की कटौती की गई ह

reduced tds rates, reduced tcs rates, rates of TDS TCS reduced by 25%, 20 lakh crore, special economic package, reduced TDS and TCS rates valid until 31st March 2021,
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Income Tax Calculator, Budget 2019, How to Calculate Income Tax

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