Rakesh Nangia

Articles By Rakesh Nangia

23 Articles

Budget 2019: Income tax payers seeking more disposable income in hands

This will serve dual purpose, better return filing ratio for the government and easy tax administration for the taxpayers.

Budget 2019 News

Income tax returns (ITR) filing: Budget 2018 fixes anomaly in law

Vide Finance Act 2017, certain other adjustments were allowed in processing of ITR, including in cases where income appearing in TDS certificate/ tax credit statement of a taxpayer, is not included in total income of the taxp

Income tax returns, ITR, Budget, Budget 2018, Income Tax Act, taxpayers, CBDT  News

Budget 2018: Salaried class, elderly seek tax relief

Budget 2018: With the Union Budget scheduled to be presented on February 1, all eyes are on the finance minister. The government should aim at making the Budget taxpayer friendly, straightforward and uncomplicated.

budget 2018 budget date budget 2018 india India budget Union budget 2018 budget 2018 expectations budget impact on common man budget impact on salaries person salaries person budget impact News

Budget 2018: Senior citizens want tax sops on FDs, rental income

Budget 2018: The Union Budget 2018 is just around the corner and the common man is eagerly waiting to see what the government has in store for him.

budget 2018, budget date, budget 2018 india, India budget, Union budget 2018, budget 2018 expectations, Senior citizens, rental income, Public Provident Funds, National Saving Certificates, Senior Citizens Saving Scheme, Public Provident Funds News

Budget 2018: Real estate longing for stability, certainty and strength

The Budget should increase the tax benefit on loan repayment of second house to `3 lakh, increase the ceiling on capital gains investment and expand the basket of eligible investments.

Real estate inventory, Interest on housing loan , Capital gains, housing loan, loan, real estate sector News

Transfer pricing once again comes to the fore for MNCs

Aligning the Indian tax environment with global best practices and standards, the Central Board of Direct Taxes (CBDT) has yet again brought a change to transfer pricing documentation.

Transfer pricing, MNCs, Indian tax environment, global tax environment, Central Board of Direct Taxes  News

Withholding tax: Deduction must if payment made top NRIs

Withholding tax is a responsibility cast upon the payer and failure to withhold appropriate taxes shall result in liability to pay such taxes along with interest and penalty.

Withholding tax, what is Withholding tax, Withholding tax deduction, tax liabilities, necessary taxes, Non-withholding of taxes, income tax return, trust based taxation system, CBDT, taxpayers, taxpayers in india News

Builders vs Homebuyers: Are buyers empowered or not? The situation will bring tears to your eyes

Since the Insolvency and Bankruptcy Code, 2016 came into effect for corporates last year, all three categories of applicants—financial creditors, operational creditors and corporate debtors began filing applications under t

Insolvency and Bankruptcy Code, corporate debtors, financial creditors, Homebuyers, Builders, buyers News

Demonetisation: Rights of income taxpayers and taxmen explained

With a limit of Rs 2.5 lakh per taxpayer, even the genuine taxpayer holding tax paid money is afraid of depositing his old currency notes, lest he faces tax scrutiny. It is important to understand that this limit of Rs 2.5 la

Demonetisation: Rights of income taxpayers and taxmen explained

Tax Talk: GST – Impact on goods may be less than services

With the passage of the Goods and Services Tax (GST) Constitutional Amendment Bill in both the Houses of Parliament, the most awaited indirect tax reform is set to become a reality.

Tax Talk: GST – Impact on goods may be less than services

How to hold foreign assets legally; here’s a guide

In the recent past there has been a lot of hue and cry over leak of information about famous personalities holding beneficial interest and assets outside India.

black money News

Tax Talk: Tax on dividend leading to consequences no one had thought

The Finance Act 2016 levied dividend tax at the rate of 10% on dividend over Rs 10 lakh per annum.

Tax Talk: Tax on dividend leading to consequences no one had thought

India-Mauritius tax treaty revision can boost India growth story

India-Mauritius tax treaty: The protocol signed between India and Mauritius on May 10, 2016, amending the DTAA brought closure to the complicated renegotiation attempts of the Indian Government which started as far back as 19

India-Mauritius tax treaty News

Deduction under Sec 80GG a relief for self-employed

Overall, it is a balanced Budget with a pragmatic approach, and if the taxability of EPF withdrawal is rolled back, it would be a win-win for all

Deduction under Sec 80GG a relief for self-employed

Budget ideas: How Budget 2016 can resolve tax woes of common man

In order to widen the tax base of our country the government has also taken definitive steps by mandating quoting of PAN for various transactions and putting a cap on cash transactions

Tax exemptions - union budget 2016 News

Tax talk: Understand the classification of income earned from share sale

While share trading has grown significantly one needs to know how to treat the income earned from sale of shares. It is imperative to understand the classification of income, since the tax treatment of speculative gain, capit

Tax talk: Understand the classification of income earned from share sale

Tax talk: Time to move away from must-file appeal policy

The government and its various agencies are the pre-dominant litigants in courts and tribunals.

Tax talk: Time to move away from must-file appeal policy

Tax talk: Simplifying the process of scrutiny assessment

Tax authorities in India have the power of initiating scrutiny assessment under section 143 (3) of the Income Tax Act 1961, if they have a reason to believe that the individual has filed incorrect particulars or suppressed hi

Tax talk: Simplifying the process of scrutiny assessment

Buying a home? Make yourself aware of tax implications

OFTEN people buy real estate to reduce their income tax burden. It sounds great, but you should never make real estate investment decisions based solely on tax considerations.

home loan News

Tax Talk: Know about tax implications relating to sale, exchange of timeshare

Timeshare ownership is ideal for vacations as it gives you the space and luxury of a resort instead of a cramped hotel room.

Tax Talk: Know about tax implications relating to sale, exchange of timeshare

Tax talk: Tax gains you can make from your losses

While making losses in a volatile market may be unavoidable, one can still maximise income by accounting for losses at the time of calculating the tax liability.

indian rupee News

Do not panic if you get notice from taxman

Nobody ever likes to receive a letter from tax authorities, but if you do get one do not panic. Read the notice carefully to see what the tax authorities are actually looking for.

Income tax News

Tax Talk: Filing of income tax returns made simpler for Aadhaar card holders

With people becoming increasingly tech savvy, e-filing of income-tax returns is gaining in popularity. Additionally, with new forms and under the fresh filing...

income tax returns efili News