BUSINESS
Govt to give up on Rs 3,500 crore-worth disputed direct tax demands: Revenue Secretary
Petty tax disputes involving an amount of up to Rs 10,000 for five years between 2010-11 and 2014-15 will be withdrawn; more than 2 crore disputes concerning tax demands of up to Rs 25,000 will be waived.
BUSINESS
EV insurance covers to gain on budget push to battery making, charging infra
Several add-on motor insurance covers have been launched by general insurance companies, which offer protection to not just electric vehicle batteries, but even charging equipment, which is in use at public charging points.
BUSINESS
Budget 2024: Thrust on spiritual travel to enhance Leave Travel Allowance usage
A higher proportion of leave travel allowance is granted with salary increase but the tax benefit is restricted to domestic travel. With enhanced tourism infrastructure, taxpayers can utilise this benefit while travelling within the country.
BUSINESS
FM waives off disputed direct tax demand of Rs 10,000-25,000
Interim Budget 2024: Upto 1 crore taxpayers would be freed from challenging petty tax claims dating back to 1962
BUSINESS
What NRIs want from Budget 2024: Prevention of double taxation agreements, AIS introduction positives, to begin with
In interim budget 2024, there is a need to enhance digitalisation of tax return filing-linked procedures such as changing residency status, assessments and even alternative tax return verification systems linked to NRIs, say tax experts.
BUSINESS
Ayodhya Ram Mandir: How your money can take part in the inauguration
From buying temple gold coins to making donations, there are various ways to participate financially in the historic event.
BUSINESS
Flight delayed or cancelled? Know how to file a travel insurance claim
Passengers with travel insurance policies can file a claim for the expenses incurred due to a flight delay or cancellation. However, before you file one, be aware of policy clauses around the number of hours of delay, deductibles and also conditions under which claims will not be payable
BUSINESS
Bought a necklace this Makar Sankranti? Check if your jewellery has free insurance cover
Even though jewellers pay the insurance premium on behalf of the customer for the first year, thereafter, customers may renew the policy directly with the insurance company.
BUSINESS
Voluntary cancellation of trip to Maldives: Don't expect insurers to pay your claim
Claims under travel insurance list conditions such as medical emergencies and airline-led epidemic-linked cancellations. While special high-premium travel insurance policies cover such cancellations, not all claims fall into this category.
BUSINESS
Chartered accountants may soon have to file tax returns for robots: Experts
Due diligence has to be thorough while submitting tax returns as currently there is no escape from tax litigations in case errors are introduced by technological tools.
BUSINESS
Received notices or alerts from Income Tax Department? Here’s how you can respond to them
Several taxpayers have received messages from the Income Tax Department alerting them about possible non-disclosure of high-value transactions such as property sales and purchases, foreign investments and remittances overseas, investments of over Rs 10 lakh in mutual funds, and capital gains made on the sale of equity shares.
BUSINESS
Weddings and money: Gifts of gold are not taxed, but…
Gold received during weddings is not taxed as it comes under streedhan, a concept under Hindu law that draws a Lakshman rekha around the gifts received by a woman during marriage. These gifts are protected from taxes even in cases of separation. But this gold should be in a reasonable quantity.
BUSINESS
Indians lack adequate life, health cover as they save through insurance products
The underinsurance can be blamed on the inclination of Indians to use insurance for savings and not for protection. The report takes into account underinsurance in six areas — life, annuity, pension, health, property, and cyber insurance.
BUSINESS
Buying cars at a discount this December? Check out these add-on motor insurance offers
Cars can't roll out of a showroom without third-party insurance. But before grabbing a deal on soon-to-be-old 2023 car, assess if these additional covers offer better protection for your beauty on wheels.
BUSINESS
How rising gold prices affect your gold loan
Rising gold prices allow existing gold loan borrowers to seek a top-up. Alternatively, some NBFCs reduce the interest rate applicable on the loan, thereby reducing the monthly or quarterly instalment.
BUSINESS
Booked profits on Tata Tech, IREDA listing days? Be ready to pay short-term capital gains tax
There are tax implications on gains made on share sales within a day of listing. Read on to find out what they are.
BUSINESS
Budget 2024: AIS, avoidance of double taxation are positives, but NRIs need more reforms
Budget 2024: Many double taxation avoidance treaties have been forged and annual information statements capture tax details, but there is a need to shift procedures to digital mode for NRIs too.
BUSINESS
Interim Budget 2024: Tax compliance improves, but process glitches remain
Interim Budget 2024: Technology has eased tax-filing thanks, in part, to pre-filled forms. But mass tax-notices and erroneous notices have caused confusion. And dispute resolution needs to improve.
BUSINESS
Golden Tips: Be savvy about making charges when buying jewellery this Diwali
Before falling for marketing spiel about zero percent making charges, do understand that jewellers can charge you under other heads, without calling them making charges.
BUSINESS
Converting your vehicle to CNG or electric? Don’t forget to inform the insurer, lest claims be denied
Insurance companies will insure your vehicle only if a government-approved conversion kit is used.
BUSINESS
Pranav Jewellers’ Rs 100-crore scam: Where is the shine, where is the pain?
The gold and jewellery industry needs better measures to ensure protection. For those who wish to buy gold, ETFs, mutual funds and sovereign bonds are the best options
BUSINESS
Same-sex marriage: How LGBTQ+ community can still meet financial needs despite SC verdict
Can LGBTQ+ couples avail of home loans, family floater health insurance policies, and add-on credit cards? They can, but the options are few and far between. They also have to circumvent many restrictions.
BUSINESS
False declarations to avoid steep TCS could lead to penalties, warn experts
The onus of adhering to the international spending limit of Rs 7 lakh per annum per person, post which 20 percent TCS will kick in, rests with the customer purchasing the foreign exchange, say forex dealers
BUSINESS
Personal Finance: How to adjust the TCS paid for your foreign tour against your tax outgo
The enhanced tax collection at source (TCS) of 20 per cent on foreign investments, foreign tours, etc blocks your funds, and adjusting the same against taxes payable can be a challenge, unless you do it the right way.
