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January 25, 2022 LTCG tax impact: Equity mutual funds see huge redemptions in March
The mutual fund industry witnessed huge redemptions in equity schemes in March as investors lined up to redeem their units and save on 10 per cent long-term capital gains tax that the government has proposed. According to data released by Association of Mutual Funds in India, while the gross investments into equity schemes of mutual […]
ELECTRONICS September 21, 2019 Union Minister asks electronics manufacturers to take full advantage of tax incentives
Union Minister Ravi Shankar Prasad on September 20 exhorted electronics and mobile makers to take full advantage of the tax incentives announced by the government, saying the latest measures underlined the commitment to transform India into a manufacturing hub. The comments came after the government slashed the tax rate for companies by almost 10 percentage […]
NEWS August 26, 2016 Madhya Pradesh Assembly ratifies Goods and Services Tax Bill
The Madhya Pradesh Assembly on Wednesday ratified the Constitution Amendment Bill on Goods and Service Tax, reported ANI. Chief Minister Shivraj Singh Chouhan said the Bill will lead to higher gross domestic product and help curb corruption in the country. This comes only a day after Prime Minister Narendra Modi’s home state Gujarat ratified the […]
ALL DEALS August 13, 2016 LTCG on Indian equity shares are tax exempt
iStockPhoto I want to sell my house in Bengaluru, India, and reinvest it by buying a house in the UK where I live. How will I be taxed? —Kumarika Singh Sale of property situated in India will be taxable in the same year. An immovable property held for more than 36 months is classified as […]
ALL DEALS August 13, 2016 Make allocation to ELSS funds based on tax saving requirement
iStockPhoto I am 24 years old and planning to make an 80:20 allocation between equity and debt to build my mutual fund (MF) portfolio. By the end of the year, I want to have a portfolio with 34% in equity-linked savings schemes (ELSS), 46% in equity and 20% in debt. For ELSS, I am investing […]
ALL DEALS August 13, 2016 Cash received as gift from some relatives is tax exempt
iStockPhoto I had gifted Rs.2 lakh to my spouse, with which she bought some shares. Who will pay the capital gains tax on the sale of these shares? —Kalpesh Dhar The entire money received by an individual from any person without consideration, the aggregate value of which exceeds Rs.50,000 in a financial year (FY), is […]
NEWS August 8, 2016 ClearTax: This startup is trying to make tax filing easier for small businesses and freelancers
ClearTax condensed the ITR-4 document into an interactive format where users answer a series of questions. Hyderabad: Filing an income tax return is a taxing affair in itself. Now imagine if you’re a small business or a freelancer who has to fill and file a 28-page tax return called ITR-4. Understanding the business category you […]
NEWS May 19, 2016 Ola Accused of Overcharging Toll, kingdom Tax in Delhi NCR
HIGHLIGHTS The rides in question are from Delhi to Noida or within the reverse direction. One consumer said Rs. 120 turned into charged as UP country tax. Ola website says purchaser needs to pay Rs. 60 to enter Uttar Pradesh. even as the Delhi authorities has cracked down on app-based taxi aggregators for “surge pricing”, […]
NEWS 
April 1, 2016 HSBC facing probe for ‘abetting’ tax evasion
Globally, HSBC reported a pre-tax loss of $858 million in 2015 compared with a profit of $1.73 billion in 2014. Photo: AP Mumbai: While declaring its earnings for the year ended December 2015, international lender HSBC Holdings Plc on Monday said it continues to face a tax inquiry in India for allegedly abetting tax evasion. […]
ALL DEALS 
March 16, 2016 Apple, Google to Face EU Lawmakers Over Tax Deals
Apple, Google, McDonald’s and IKEA will be asked about their European tax deals on Wednesday as EU lawmakers ratchet up the pressure on multinationals to pay more tax on their profits locally. The hearing, organised by the European Parliament’s tax committee, follows a similar event in November last year when Anheuser-Busch InBev, HSBC, Google and […]
ALL DEALS 
March 9, 2016 Start-up investment in India to get capital gains tax exemption
File photo. Announcing the start-up action plan at the concluding session of the Startup India event, prime minister Narendra Modi said Indian youth need to be encouraged to be job creators rather than job seekers. Photo: Reuters New Delhi: In an effort to give a fillip to the start-up ecosystem in the country, the government […]
