Tax Laws

I-T Act review: Govt to invite suggestions from industry next month

The government is set to invite suggestions from the private sector and tax experts on the Income Tax Act, 1961, starting in October, as part of an initiative to simplify direct tax laws.

Exclusive: Centre seeks faster review of provisions to decriminalise various Acts

Moneycontrol has learnt that in the runup to the Union Budget, the group will shortlist provisions in various Acts in which imprisonment can be done away and replaced with a penalty. The Income Tax Act, Central Excise Act and Central Goods and Services Tax Act are also being looked at

Govt to change tax laws in Budget to tax cryptocurrency gains

Revenue Secretary Tarun Bajaj said that in terms of income tax, some people are already paying capital gains tax on the income from cryptocurrency, and in respect of Goods and Services Tax (GST) also the law is "very clear" that the rate would be applicable as those in case of other services.

Explained | Why did govt take U-turn on retro tax law and what does this mean for Vodafone, Cairn arbitration cases?

The move will bring respite to companies like Cairn Energy and Vodafone, and is expected to to end their long-standing legal dispute with the Indian government.

G7 Minimum Tax | First steps towards a paradigm shift in international tax laws

From the Indian perspective, considering that its corporate tax rate already exceeds the proposed global minimum tax rate, the G7 global minimum tax is unlikely to adversely impact companies operating in India

Budget 2020: Contextualising cravings for abolition of Dividend Distribution Tax

In the present scenario, levy of DDT is a disincentive for a foreign shareholding in terms of the return on investment as well as a disincentive for capital investment.

CBDT to waive interest if tax demand paid in retro cases

In cases where tax liability arose because of retrospective amendment to the law or a court ruling, the interest payable on the demand will be waived, it said.

We need wholesale administrative reforms: Harish Salve

According to a CNBC-TV18 report, the apex court will hear the appeals against the demonetisation scheme on December 2. The court will hear the plea challenging the legality and constitutionality of the scheme.

Budget 2016: Expect 1-2% cut in corporate tax, says BMR's Bobby Parikh

To balance the books from the cut, the government will have to withdraw some incentives and benefits. But Parikh isn't sure which exemtions will be removed.

Justice Easwar Panels' 2nd set of recos in 2-1/2 months: Member

The panel has already started deliberations on the second set of recommendatons, which are likely to come in the next two and two and half months, said Ravi Gupta, Member, RV Easwar Panel.

NRI Guide: Repatriation of funds post realty sale in India

Selling a property in India and taking money out of India is a grey area for many non resident Indians. Here is how you can do it in a compliant manner.

See volatile mkts over 2-3 months; like industrials: Ambit

Vaibhav Sanghavi, Managing Director at Ambit Investment Advisory, explains: "We expect earnings to grow by 20% in FY17 and 12% this year. So going by sheer earnings growth, even without a massive re-rating in the markets, cumulatively we will grow 32-33% in two years, which takes the index number from 8500 to 11000."

Valuations reasonable at 16 PE; like auto, banks: Deutsche

The dismal fourth quarter earnings notwithstanding, Akash Singhania, Head-Equity, Deutsche Asset Management India says on an annualised basis, corporate earnings are likely to grow in double digits for FY16 as well as the subsequent two to three years.