Page 29 - Tax
As deadline approaches, here's how to file I-T return of a deceased person
Failure in filing the ITR of a deceased person makes the heir liable to pay the penalty or fines. It may also lead to some penal consequences
 "As deadline approaches, here's how to file I-T return of a deceased person")
Trading dries up on Indian crypto exchanges as new transaction tax kicks in
Warnings from Indian crypto exchanges that a controversial new transaction tax would erode trading are coming true, with volumes evaporating since the levy took effect.
 "Trading dries up on Indian crypto exchanges as new transaction tax kicks in")
Brokerages remain bullish on Reliance Industries despite windfall tax
Reliance Industries shares gained as much as Rs 32.9, or 1.4 per cent intraday, on the BSE on Monday, before finally closing trade at Rs 2,413.95 apiece
 "Brokerages remain bullish on Reliance Industries despite windfall tax")
New Mauritius tax norms to hit PE investments in India, says IVCA
The move to tax capital gains from India would fundamentally alter the character of all income arising from Indian AIFs and lead to increased litigation
 "New Mauritius tax norms to hit PE investments in India, says IVCA")
Govt raises import duty on gold to 15% from 10.75% to curtail CAD
Last year, the government had cut the tax on gold imports to 7.5% in the Union Budget
 "Govt raises import duty on gold to 15% from 10.75% to curtail CAD")
Top headlines: 5 years of GST and what lies ahead for the tax reform
In the last five years, since its launch in July 2017, the GST journey has been difficult for both economic and political reasons. Read more on five years of GST in our top headlines
 "Top headlines: 5 years of GST and what lies ahead for the tax reform")
A fast-paced study on India's public finances
In places, Dr Rao rushes through the conclusions as well, not giving enough time to explain the rationale behind the conclusion
 "A fast-paced study on India's public finances")
Stiff regulations, high taxes: Govt controls electronic sports joystick
India is a fast-growing high-potential gaming market, but per capita spends still very low
 "Stiff regulations, high taxes: Govt controls electronic sports joystick")
State market borrowings down 23.7% YoY in Q1FY23 on strong cash flows
Icra said a comfortable cash flow position of the state governments was due to a back-ended release of tax devolution to the states in FY2022
 "State market borrowings down 23.7% YoY in Q1FY23 on strong cash flows")
HC quashes order on taxing Flipkart payment to Walmart for deputed staff
Court says assessing officer's stand on employer-employee relationship based on a wrong premise
 "HC quashes order on taxing Flipkart payment to Walmart for deputed staff")
Missed declaring rental to employer? Claim HRA exemption while filing ITR
Keep rent receipts that serve as proof handy should taxmen come calling
 "Missed declaring rental to employer? Claim HRA exemption while filing ITR")
5 years of GST: Profiteering charges leave many companies perplexed
No structured guidelines for firms to avoid profiteering; standard method to compute undue profits, say experts
 "5 years of GST: Profiteering charges leave many companies perplexed")
We hope to mop up Rs 1.3 trn GST in current fiscal year: CBIC's Vivek Johri
System 'revolutionised' to plug chances of leakage, he tells 'Business Standard' in interview
 "We hope to mop up Rs 1.3 trn GST in current fiscal year: CBIC's Vivek Johri")
ITR filing for AY 2022-23 now available on e-filing portal, says I-T Dept
'Check your Form 26AS, AIS and other relevant documents before submission. Be an early filer,' says I-T Dept
 "ITR filing for AY 2022-23 now available on e-filing portal, says I-T Dept")
Historic global corporate tax deal nears as G-7 seeks agreement on tech
Finance ministers of the bloc close in on a deal to jointly support a minimum corporate tax rate of at least 15%.
 "Historic global corporate tax deal nears as G-7 seeks agreement on tech")
Do not see govt slapping windfall tax amid soaring energy prices: ONGC
ONGC reported bumper profits in Q4 (when international prices soared to a near 14-year high of $139 per barrel) and record earnings in 2021-22, triggering talks of the govt slapping a windfall tax
 "Do not see govt slapping windfall tax amid soaring energy prices: ONGC")
UK imposes 25% energy windfall tax to help households as bills surge
It is the second emergency policy intervention to help with rising bills this year
 "UK imposes 25% energy windfall tax to help households as bills surge")
Centre tax cut on fuel only 'partial', don't expect same from states: TN FM
The Tamil Nadu government on Sunday described the Centre reducing taxes on petroleum products as 'partial' and said "it is neither fair nor reasonable to expect States to reduce their taxes."
 "Centre tax cut on fuel only 'partial', don't expect same from states: TN FM")
Federal tax probe into President Biden's son, Hunter, moves forward
A federal grand jury has heard testimony in recent months about Hunter Biden's income and payments he received while serving on the board of a Ukraine energy company
 "Federal tax probe into President Biden's son, Hunter, moves forward")
Not filed ITR yet? Face penalty or even jail term
The deadline for filing ITR for 2020-21 was revised from December 31, 2021 to March 31, 2022. If a taxpayer fails to file ITR beyond this, they may even have to face jail for the violation. Watch the video to learn more
 "Not filed ITR yet? Face penalty or even jail term")