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Income Tax

May 06, 2015 at 20:47 | Source: PTI
Assocham, in a letter to FM, has said that loopholes in the proposed legislation need to be plugged in order to avoid "harassment" to those availing the compliance window.
May 05, 2015 at 09:24 | Source: Reuters
Uncertainty around the so-called minimum alternative tax on foreign asset managers' past income has unsettled investors, contributing to sharp falls in India's stock market.
May 03, 2015 at 15:41 | Source: PTI
Five foreign portfolio investors (FPIs) from the US and the UK today moved the Bombay High Court challenging the Income Tax department's demand for Minimum Alternate Tax (MAT) on the profit earned from trading in stocks and bonds.
May 01, 2015 at 14:15 | Source: PTI
The government in March introduced 'The Undisclosed Foreign Income and Assets (Imposition of Tax) Bill, 2015' which provides for heavy penalty and stiff punishment of up to 10 years for stashing unaccounted funds abroad.
Apr 30, 2015 at 19:32 | Source: PTI
The Finance Ministry is considering easy taxation form which an assessee can do things himself and does not have to run to various advisers.
Apr 30, 2015 at 17:26 | Source: CNBC-TV18
The Finance Minister Arun Jaitley today gave clarifications on issues like the Income Tax Return form, the Minimum Alternate Tax (MAT) levied to FIIs as well as overall growth projection.
Apr 30, 2015 at 17:22 | Source: CNBC-TV18
There is now a possibility that more such FPIs will file cases and challenge the revenue departments notices on MAT in due course.
Apr 30, 2015 at 15:59 | Source: PTI
Raising the demand during Zero Hour, Vijay Goel (BJP) said there are two forms of Income Tax department for its assesses, with one form of five pages and the other of 14. The forms seek details of all bank accounts of an individual as well as details of foreign travels made during the year.
Apr 30, 2015 at 11:20 | Source: Moneycontrol.com
Income tax act offers a wide range of deductions. Process of collection of tax is also complex, which leaves lot of scope for confusion at the end of the tax-payer. It is better to know the fine print to ensure on the right side of the law.
Apr 29, 2015 at 20:38 | Source: PTI
The Kerala-headquartered bank had registered a post-tax net of Rs 277.29 crore in the year-ago period. The overall income was up 9.77 percent at Rs 2,214.28 crore for the reporting period.
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Budget  

Source:NDTV Profit - Finance Minister Arun Jaitley is expected to double exemption limit on long-term financial savings to ease tax burden on the middle class in his maiden budget on Thursday, sources told NDTV. Currently, the income tax exemption limit on such savings is ...

12.27 PM Jul 8th 2014

R Jagannathan

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Budget  

of my hat on this front. Taxation should be stable and predictable, and not yo-yo from year to year. This has largely been the case over the last few years, but in future we will have even stabler regimes. My proposals in terms of individual income tax are the following. The basic exemption rate

11.22 AM Jul 8th 2014

Rishabhluck
y

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Indian indices  

in the Form 16 from your employer with the details in the Form 26AS. If your bank or bond issuer has deducted tax on the interest income, it would be in this statement. You can access the Form 26AS on the Income Tax department`s e- filing portal. Via continue

8.03 PM Jul 7th 2014

uuuthh

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2400 Followers

Indian indices  

Big tickets that would continue the bullish rally in Nifty Good news for some sectors: # Oil and Gas sector - Phased reduction in LPG/Kerosene subsidy # Tax slabs - Income tax slabs to be raised from 2,00,000rs. to 3,00,000rs. # Mortgage tax break - Raise current limit of 1,50,000rs to 3,00,000rs.

5.27 PM Jul 7th 2014

Other Market Topics  

Wow! In a country that requires taxes to be paid for up-liftment from every angle; Education, medical facilities, housing / hostel facilities for the under-priviliged to list a few; you are suggesting abolishing all other taxes other than Income Tax as well as increasing the limits of deductions

2.20 PM Jul 7th 2014

raviusha_12
3

New Member

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Budget  

reduce income tax to induvidal and attract more poeple file their tax returns.try to reduce subsidy for petrolium products.help farmers give them low interest .

2.14 PM Jul 7th 2014

R Jagannathan

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1256 Followers

Budget  

years, and the rates can be raised after that. If the law works well, over time the estate duty can be raised to the same level of the highest income tax rate – currently 30 percent. #4: Most importantly, the estate duty should not be judged by the amount of revenue collected, but whether

12.54 PM Jul 7th 2014

pitquote

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Just Posted  

budget: do not expect great things in the budget. there will be no relief on income tax for individuals power cost will go up to adjust cost of production- watch out for distribution companies gas price for domestic use will go up- petroleum companies will benefit IN GENERAL: THERE WILL NOT BE EVEN

11.11 AM Jul 7th 2014

subasu

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581 Followers

Tax Planning & Help  

If you have receipts issued by the landlord over a stamped receipt, yes, you can claim the amount allowed as per section 80GGA of Income Tax Act. It is upto the income tax officer to accept it or not!

10.24 AM Jul 7th 2014

subasu

Platinum Member

581 Followers

Tax Planning & Help  

Rs. 4 lacs will earn an interest of (maximum) Rs. 40,000. No. She does not have to pay any income tax.

10.23 AM Jul 7th 2014

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