The Central Board of Direct Taxes (CBDT) has now amended income tax rules to allow employees to avail certain exemptions
Another variant of the plan proposes a four-year tax holiday for companies that invest $100 million or more in labour-rich sectors like textiles, food processing, leather and footwear.
Increase in basic exemption limits, enhancement in home loan interest deduction and easing of the tax filing process are eagerly awaited
Facts and circumstances of each case warrant a detailed examination for taking an informed decision on this aspect.
Lovaii Navlakhi of International Money Matters tells us that Budget 2019 was a good balance of populism while maintaining fiscal prudence, though fiscal maths is questionable.
The tax department processes millions of requests every year, making it difficult for officers to parse through the paperwork and investigate whether the said goods conform to the category under which exemption is claimed.
Finance Minister Arun Jaitley might announce some major changes in the tax landscape. Here, we explain a few taxation terms that might crop up and what is likely to change relating to them.
Disha Kansara Chawla Senior executive search professional, Mumbai Many average Indians now own two houses – one to live in and one through which they earn retirement benefits. It is very difficult to buy R
Health insurance providers feel tax incentives to salaried class on purchase of health insurance should be raised. Also, exemption of service tax on health insurance premiums and preventive health check-ups can prompt more people to buy health cover.
Individuals have been flying into Nagaland from Delhi with scrapped notes in attempts to put it into tribals' accounts, say sources. The I-T department is currently looking into security breaches at Hissar, Delhi and Dimapur airports.
Home loan companies and banks have launched schemes that would make buying your dream home a reality.
House rent allowance (HRA) is a part of your salary and can be claimed to save on income tax. Here are some tips for the same.
Increasing the tax exemption limit to Rs 3 lakh from Rs 2.5 lakh in the union budget would add Rs 5,000-15,000 in the assessee‘s kitty.
Home insurance premium should get some tax exemption. Extant tax benefit on health insurance must be hiked.
Though there is no hike in exemption limit for senior citizens, a fresh health insurance scheme is announced by finance minister. Also NPS withdrawals to the extent of 40% were made tax free.
Tax burden for salary below Rs 5 lakh category individuals is reduced by Rs 3000
Service tax on health insurance should be removed and tax exemption on health insurance should be hiked.
To promote start-ups in the country, Prime Minister Narendra Modi has unveiled a slew of incentives like offering them a tax holiday and inspector raj-free regime for three years, capital gains tax exemption and Rs 10,000 crore corpus to fund them.
Economic Affairs Secretary Shaktikanta Das said that under the Gold Bond Scheme, the government plans to exempt capital gains that will be made at the time of redemption.
While the big ticket investments needed to revive growth have been limited by the need to keep the fiscal deficit roadmap on course, there are major changes in taxation and other areas that are truly reformist.
At the same time, as part of streamlining the GST base, the service tax net could be broadened further by removing some services from exempt/abatement list," it said in a note Today.
NRIs and PIOs can also legally inherit property from a person resident in India and can hold it. They cannot buy agricultural land, plantation property or farm house. However, they can inherit such property from a person resident of India and can hold it.
The income tax department's surveyed Dishman Pharma's premises over the weekend for taxation issues in a Rs 42 crore land deal involving Dishman SEZ and Dishman Pharma.
Manju Dhake of Sushil Insurance Brokers Pvt Ltd discusses on the importance of having your children's insurance plans. Dhake stresses on the significance of savings by investing in children's insurance plans.
This is to bring into your notice that now the expectations are higher from each and every sector. You are not new to such attention from society at large.