Election 2014
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Income Tax

Apr 20, 2014 at 22:20 | Source: PTI
Advocating low tax structure, the BJP leader said, Direct Tax should be reduced. If the Income-Tax limit is raised from Rs 2 lakh to Rs 5 lakh, 3 crore people will save Rs 24 crore which will lead to a small impact of 1 to 1.5 percent of National Tax Fund.
Apr 17, 2014 at 21:46 | Source: PTI
Nokia, which is involved in tax disputes with both the Income Tax department and the state government, earlier this month announced the VRS, saying it was part of its regular review of its manufacturing strategy to optimise and ensure smooth and timely delivery of its products.
Apr 16, 2014 at 18:37 | Source: PTI
The I-T Department had earlier this year restrained Cairn from selling the stake over alleged tax evasion on Rs 24,500 crore of capital gains made when it transfered its India assets to a new company, Cairn India, in 2006-07
Apr 16, 2014 at 17:13 | Source: Moneycontrol.com
The initial action that has been undertaken is by the employer since the income is being received as salary from the employer and based upon the amount received here there is some tax that is deducted at source.
Apr 16, 2014 at 16:59 | Source: Moneycontrol.com
Due to the special nature of duties of the armed forces, certain allowances are paid to meet that requirement. Of these allowances some are subject to tax and some are not.
Apr 16, 2014 at 16:56 | Source: Moneycontrol.com
The provision clearly states that if TDS return is filed late, then under section 234E late fees of Rs 200 per day will have to be deposited before filing TDS / TCS return. Thus, once TDS statement has been accepted without late fee, and then such late fee cannot be recovered later on.
Apr 16, 2014 at 15:28 | Source: PTI
The Central Board of Direct Taxes, sources said, has received a report from the poll body citing delay in the filing of expenditure reports by few political parties as it sought action by the department under the I-T laws.
Apr 16, 2014 at 10:36 | Source: Moneycontrol.com
Equity mutual funds closed in red as the equity benchmarks fell 0.64 percent each on Tuesday as investors booked profits in banking & financials, auto and metals stocks after inflation rose to three-month high and contraction in February industrial output.
Apr 11, 2014 at 22:10 | Source: CNBC-TV18
In a hearing, the additional Solicitor General had said that Vodafone infact tried to suppress facts at the time of the main hearing in the Supreme Court and this is tantamount to a fraud.
Apr 10, 2014 at 21:47 | Source: PTI
Additional Chief Metropolitan Magistrate R Dakshinamurthy, in a brief order, granted two weeks time for further proceedings after hearing arguments of the prosecution and defence counsels.
Messages on Income Tax »

Politics  

tax net then make the income tax flat @ rs.15000 per indivisual and that would surely rake in the money required for developement , it is like you are paying for your countrys good and i think no citizen in this country wants to live a miser and die a miser

about 45 min ago

Politics  

Such high increase in limit may not be feasible considering the current account deficit and other subsidies which government has on its plate. With low penetration of income tax paying people, this does not look a possibility in neat term.

about 47 min 52 sec ago

netdo

Platinum Member

138 Followers

Politics  

If so, your number suggests it must be increased some 15X more. At least 50% of the population MUST pay income tax to be a developed and decent country that cares for its have not`s. Even so, 28 storied houses do not belong in India.

about 1 hr 10 min 4 sec ago

Saiyam Joshi

New Member

0 Follower

Politics  

Recently Mr.Modi in his rally in Delhi said that they might abolish INcome Tax as is done in gulf countries and now Mr. Jaitley as a new idea. Basically BJP is trying to woo the people as they don`t have anything major in their economic agenda. But , i guess its all big talks which wont be applied

about 2 hrs 2 min 9 sec ago

Politics  

yes they can do it, by doing this in fact govt will get more income tax.

about 2 hrs 2 min 57 sec ago

shakira9

New Member

0 Follower

Just Posted  

Income Tax exemption upto 5 lakhs may come after elections.

about 3 hrs 30 min 21 sec ago

marketqueen
001

New Member

4 Followers

Marksans Pharma  

As per the present provisions of income-tax laws, any long-term capital gains arising on sale of equity shares listed on Indian stock exchange and sold through a stock-broker are fully exempt from income tax. This exemption is not available in case the listed shares are sold outside the stock

about 4 hrs 44 min 53 sec ago

subasu

Platinum Member

396 Followers

Tax Planning & Help  

By a special provision made u/s 43 of the Income Tax Act, 1961, derivatives trading in equities will NOT be considered speculative.

8.35 PM Apr 20th

subasu

Platinum Member

396 Followers

Tax Planning & Help  

Normally, all derivatives trading where delivery is not the intention behind the contract, would be considered speculative business. But by a special provision made in the Income Tax Act, 1961, u/s 43, derivatives trading in shares executed through stock exchanges and confirmed by a contract note

8.32 PM Apr 20th

kr_nambiar

Platinum Member

319 Followers

Tax Planning & Help  

Oh, my God. Are you so naive to have put your name and PAN number in public domain?. If you are employed, your company must be giving you form 16. If you have been filing income tax return, you can get it from return statement.

7.45 PM Apr 19th

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