Tuesday, Sep 26, 2023
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Tax Revenue

A decision to extend the norms for mandatory packaging in jute materials was taken by the Union Cabinet today

Jute Industry Revenue Likely To Dip By 5-6% On Weak Overseas Demand: Report

Exports, which form a third of the sector's revenue of Rs 12,000 crore, are seeing a 15 per cent dip this fiscal, after falling 8 per cent last fiscal, as overseas channel partners continue to destock amid slowdown worries...

16 August 2023

HSBC is planning to expand its business in the Asian Market.

HSBC India's Profit Before Tax Rises Nearly 19% To $766 Mln In January-June Period

The global banking and markets vertical contributed the most to the profits, delivering a PBT of USD 408 million as against USD 324 million in the year-ago period

02 August 2023

Income Tax Return (ITR)

File ITR At Earliest As Govt Not Contemplating Extension Of July 31 Deadline: Revenue Secretary

About 5.83 crore income tax returns were filed as on July 31 last year, the last day for filing returns for assessment year 2022-23

16 July 2023

Tax

Individuals Reporting Annual Income Of Above Rs 1 Cr Doubles In 2 Years To 1.69 Lakh

As per the tax return data filed in assessment year (AY) 2022-23, relating to income earned in fiscal 2021-22), 1,69,890 individuals have shown total income of above Rs 1 crore

07 August 2023

Is Merging Of Top Oil Companies Bad For Competition And Consumers?

Oil Companies Pre-Tax Profit Seen Jumping Three Times To Rs 1 Lakh Cr This Fiscal: Report

Oil marketing companies (OMCs) may see operating profit rebounding to Rs 1 lakh crore this fiscal, compared with an average of Rs 60,000 crore between fiscals 2017 and 2022, and thrice of the last fiscal's low of Rs 33,000...

26 July 2023

Arvind Kejriwal addresses press

With GST being Linked To ED, Traders Paying Tax Could Also Be Arrested: Delhi CM Kejriwal

The government has amended the provisions of the money-laundering law to allow the ED to share information with the GST network. The move would help in the recovery of the GST evaded through money laundering

11 July 2023

Budget 2023-24 And India’s Imports, Exports, And Current Account Deficit

Govt Should Announce Objective Criteria For Importers Of Computers, Laptops For Granting Licences: GTRI

“PCs, laptops, and tablets connect us to the world of education, business, entertainment and everything else. The government must take all steps to avoid short supply and market disruption. One way is announcing objective...

04 August 2023

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At the moment, apart from the Sanwara toll plaza, another toll plaza is present near Chandimandir on the Shimla-Parwanoo-Chandigarh highway.

IRB Infrastructure Toll Revenue Grows 18% To Rs 1,183 Cr In Apr-Jun

Toll collection stood at Rs 1,000 crore in April-June quarter of preceding 2022-23, IRB said in a statement

10 July 2023

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03 July 2023
States Need To Focus On Transparency With Regard To Their Financial Numbers: NITI Aayog CEO

States Need To Focus On Transparency With Regard To Their Financial Numbers: NITI Aayog CEO

Transparency is more important than uniformity and states should ensure that everything gets reported in some form or the other because the market values...


27 May 2023
You Must Be A Joint Owner, Co-Borrower, And Pay EMIs To Avail Of Tax Benefits For Joint Home Loan

You Must Be A Joint Owner, Co-Borrower, And Pay EMIs To Avail Of Tax Benefits For Joint Home Loan

You should be a joint owner of the property, should be a co-borrower, and should service the loan to avail of tax benefits for a joint home loan.


11 March 2023
Circle Rate, Stamp Duty Determines Sale Value Even If Agreement Mentions Lower Value

Circle Rate, Stamp Duty Determines Sale Value Even If Agreement Mentions Lower Value

Capitals gains will be computed as per the value mentioned in the stamp duty or the circle rate. Rooms in a chawl are generally held on a tenancy basis and not...


10 March 2023
What Is Pink Tax, Is It Unfair For Women In India?

What Is Pink Tax, Is It Unfair For Women In India?

While the income gap and pension gap already puts women at a disadvantage, now the pink tax further contributes to economic inequality between men and women....


03 March 2023
ITR-1 Sahaj Form: Find Out If You Can File Income Tax Return For AY 2023-24 With This Form

ITR-1 Sahaj Form: Find Out If You Can File Income Tax Return For AY 2023-24 With This Form

To file your income tax return with the ITR-1 Sahaj form, you would need Form 16, house rent receipt (if applicable), investment payment premium receipts (if...


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01 February 2023
Budget For World's Fastest Growing Economy: Key Numbers To Be Watched

Budget For World's Fastest Growing Economy: Key Numbers To Be Watched

Finance Minister Nirmala Sitharaman will be presenting her fifth Budget that may do a tightrope walk between staying fiscally prudent and meeting general...


21 January 2023
What Is Annual Information Statement (AIS)? A Detailed Guide For Taxpayers

What Is Annual Information Statement (AIS)? A Detailed Guide For Taxpayers

The income tax department launched a new AIS on the compliance portal in 2021, to give taxpayers a comprehensive view of their financial transactions during a...


11 January 2023
4 Things To Keep In Mind When Buying A Deferred Annuity Plan

4 Things To Keep In Mind When Buying A Deferred Annuity Plan

A deferred annuity plan could help you with a steady cash flow in your retirement years. That said, it’s important to not buy one that doesn’t align with...


02 January 2023
Dubai Ends 30% Tax On Alcohol Sales, Fee For Liquor Licenses

Dubai Ends 30% Tax On Alcohol Sales, Fee For Liquor Licenses

The sudden New Year's Day announcement, made by Dubai's two state-linked alcohol retailers, came apparently from a government decree from its ruling Al Maktoum...


01 January 2023
Corporate Tax To GDP Ratio Exceeds 3% After Two Years In FY'22

Corporate Tax To GDP Ratio Exceeds 3% After Two Years In FY'22

However, the corporate tax collection is yet to surpass its five-year high of 3.51 per cent of GDP recorded in 2018-19


02 December 2022
There Is No Tax Implication On ESOPs At Time Of Allotment

There Is No Tax Implication On ESOPs At Time Of Allotment

Tax on ESOPs is levied at two stages, once while exercise the option and once while selling. There is no restriction on the number of times a person can claim...


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19 November 2022
Govt Cuts Export Duty On Steel, Iron Ore; Hikes Import Duty On Some Raw Materials

Govt Cuts Export Duty On Steel, Iron Ore; Hikes Import Duty On Some Raw Materials

On Saturday, the government ended the levy on export taxes on steel and iron ore, six months after it was imposed. 


17 November 2022
TDS Compliances That You Need To Follow While Buying, Selling House

TDS Compliances That You Need To Follow While Buying, Selling House

Here are the TDS compliances you will need to adhere to while buying or selling a house property.


31 October 2022
Income Tax Act Offers Extra Exemption, Deduction To Senior Citizens: Here’s What They Can Avail

Income Tax Act Offers Extra Exemption, Deduction To Senior Citizens: Here’s What They Can Avail

Senior and super senior citizens get extra tax benefits and deductions, but many are not using them. Know the deductions and benefits that Income Tax Act...


27 October 2022
As Dividend Season Is On For Infosys, Hindustan Copper And Others, Here’s How To Calculate Your Tax Liability

As Dividend Season Is On For Infosys, Hindustan Copper And Others, Here’s How To Calculate Your Tax Liability

Many companies, including Infosys Ltd. and Hindustan Copper Ltd., have announced dividends for shareholders recently. Hence, it is vital to know your tax...


26 October 2022
Want To Set Up An SIP For NPS Tier I & Tier II Accounts? Know The Process Here

Want To Set Up An SIP For NPS Tier I & Tier II Accounts? Know The Process Here

Here’s how to set up a systematic investment plan (SIP) for an NPS account (Tier I and Tier II) online (D-Remit) or offline (NPS POP) and the cost applicable...


25 October 2022
Are You Planning To Gift Shares This Diwali? Here’s The Process And Applicable Taxes

Are You Planning To Gift Shares This Diwali? Here’s The Process And Applicable Taxes

You can gift shares to your friends and relatives through both the online and offline processes. Here’s the way to go about it and the applicable tax and...


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