Page 13 - Tax

Budget 2020: Non-taxpaying NRIs to be taxed in India, says FM

At present, if an Indian or a person of Indian origin managed his stay in India such that he remained a non-resident in perpetuity, he was not liable to pay tax on his global income in India.

Budget 2020: For every rupee in govt coffers, 64 paise will come from taxes

The collection from borrowings and other liabilities will be 20 paise, while income tax will yield 17 paise to every rupee collection.

Govt likely to abolish dividend distribution tax in upcoming Budget

Tax may be imposed on shareholders getting dividends

Tax Dept allows joint property owners to file returns using simple forms

"After the notification, concerns have been raised that the changes are likely to cause hardship in the case of individual taxpayers," the Central Board of Direct Taxes (CBDT) said

Industry players lobby for relaxation of offshore fund taxation rules

According to current norms, the total investment of a person resident in India, whether directly or indirectly, shall not be more than 5 per cent of the fund corpus

Relief to non-telecom firms on AGR dues can only come from SC: Report

The Telecom Department is current 'examining' the replies given by the state-owned non-telecom corporations on the Adjusted Gross Revenue (AGR) dues, a senior official said

Even those not audited must deduct TDS if total payment exceeds Rs 50 lakh

The liability to deduct tax gets triggered when the amount paid to a resident, or even the aggregate of such amounts, exceeds Rs 50 lakh

Private banks score on core operations, better control over bad debt in Q2

While profit before tax grew 68.1%, net profit showed an increase of only 1.4%

PM says will further improve tax regime to attract overseas investment

Attracting new investment is key to creating jobs and boosting growth in the economy, which slowed to a six-year low growth rate of 5 per cent in the quarter ended June

Best of BS Opinion: Staring at tax shortfall, India's options are tough

Here's a selection of Business Standard opinion pieces for the day

The effect of tax cuts has dissipated

Indices are below the 200-DMA - a reliable indicator of a long-term downtrend

Don't let future Lijjat Papads die because of tax procedures: Tax tribunal

The tribunal suggested to the govt to help new semi-skilled entrepreneurs become tax compliant instead of forcing them to vanish in silent death under the maze of procedural hassles

Benefits of a progressive consumption tax

In an environment where wealth inequality is rising inexorably, the case for a new tax system has become increasingly compelling

Direct Taxes Code panel for status quo on LTCG tax, STT; wants DDT to go

Suggests rejig of 20% and 30% slabs of personal income tax

Income Tax dept relaxes assessment and scrutiny norms for start-ups

In cases where start-ups are recognised by the DPIIT but scrutiny involves wider issues, the I-T dept has asked its field formations not to pursue the issue of angel tax during assessment proceedings

15th Fin Commission rejects central tax pool demand by Delhi, Puducherry

The Commission will not consider their memorandums

Consideration and the levy of export tax

Exporters should review all situations where goods are sent abroad without any payment made or to be made

Under-construction house cancellation can help buyer get tax benefit

After three years of booking, it is considered as a long-term capital asset

Taxmen to scrutinise mismatch between ITR and service tax returns

In some cases, there is a value mismatch between the turnover declared in ITR or TDS and the service tax returns

Saving scheme for elderly to ULIP vs mutual funds: Experts advise readers

Please understand that most Ulips have hefty charges which eat away your returns over time