The policy-making body for the Income Tax Department (ITD), while releasing the latest data, also said that the "average tax" paid by corporates and individual taxpayers has seen a jump over the same time period.
The amount of capital gains tax to be paid on mutual funds depends on the type of investment (equity / debt) and the duration of time for which the investment is held
The sordid history of British colonisation of Africa (the western coast there was actually called the Slave Coast!) and West Indies etc were all laid out in the article and it made an interesting reading. A bit depressing but still, interesting.
In case of mutual funds, a differential rate of taxation is applied across fund categories.
"Ghataenge, ghataenge....(we will do the needful for reducing prices). A decision will be taken later in the day," Kumar told reporters here on the sidelines of a function.
Income Tax authorities, which had previously asked Walmart to explain the logic behind its tax deductions on the USD 16 billion Flipkart deal, have the option to seek more clarifications from the US retailer once they study the reply.
The tax law panel is considering reverting to the classical method of taxing dividend in the hands of the shareholders
There must be consistency in tax structures and policy as frequent changes hamper market sentiment and business plans, Lamborghini has said
Sakshi Batra is in conversation with Gaurav Choudhury, Policy Editor, Moneycontrol to find out what this will mean for suppliers, e-commerce players, and consumers.
The act includes blindness, low vision, leprosy-cured, hearing impairment, locomotor disability, mental retardation, mental illness.
“We certainly hope to cross the Rs 11.5 lakh crore direct tax collection target for the current fiscal,” Chandra told reporters.
A $1/barrel increase in oil prices, translates in a revenue of Rs 1,513 crore to all major (19) states, according to a SBI research note
The last date for filing the annual return form for normal taxpayers (GSTR-9) and for composition taxpayers (GSTR-9A) is December 31. The GST, which subsumed 17 different indirect taxes, was rolled out on July 1, 2017.
On August 30, the second last day of filing the income tax return (ITR), over 20 lakh returns were filed.
The Congress had earlier demanded an apology from Prime Minister Narendra Modi for allegedly lying to the country, after the RBI said 99.3 per cent of the junked Rs 500 and Rs 1,000 notes have returned to the banking system.
Experts are of the opinion that the GST architecture should not be tampered with as it will lead to demands from other states as well
In case you fail to file your income tax return by August 31, you can still file the same by March 31, 2019 and not beyond that
A recent ruling of the Andhra Pradesh High Court has held that boarding and lodging allowances paid to employees deputed abroad for meeting personal expenses is taxable as a perquisite and the employer is liable to deduct tax
The pension you get from the employer at retirement is taxed under the head salaries while filing Income Tax Returns.
Here’s what you need to know about revised returns.
The entities are suspected of evading GST by under-reporting the value of the funds transferred for customers.
All personal income which is liable to tax as per the Income Tax Act, triggers advance tax obligation. These include rental income, interest income, etc.
This article aims to detail various deductions/exemptions that one can claim as per the provisions of The Income-tax Act, 1961 in case such deductions have not been claimed in the Form 16 issued by the employer
Senior Treasury officials said the regulations are intended to provide everything pass-through owners need to comply with the Republican Tax Cuts and Jobs Act
Here are the common income tax notices and what actions to take upon receiving them