Page 34 - Tax

Tips on saving tax on the interest you earn on your savings bank account

Interest earned on balances in savings accounts held with banks or post offices is taxable under "Income from other sources". Did you know that you can actually save this tax to an extent?

BMC unveils Rs 39,038 crore budget, keeps tax structure unchanged

The Brihanmumbai Municipal Corporation (BMC) on Wednesday unveiled Rs 39,038.83 crore budget for the year 2021-22. In a relief to citizens, no additional civic tax or licence fee was proposed in the budget by the BMC, the country's richest civic body that goes to polls early next year. The BMC said in the budget that its revenue collection declined due to "the decisions taken to combat COVID-19 and to provide relief measures for different sectors affected by it". It said its property tax collection was "adversely affected" due to the pandemic and the resulting lockdown. The total budget estimates for the next financial year are 16.74 per cent more than the last fiscal when it had presented a budget of Rs 33,441 crore. Municipal commissioner I S Chahal, who presented the budget before to the standing committee, kept the civic taxes and licence fees unchanged. "There is no additional tax and charge in the budget," he said while talking to reporters after its ...

Life insurers play tax-free interest arbitrage game to rev up business

While most insurance schemes aren't tax-free anymore, assured return products are among the few exceptions

Working from home after Covid-19 a privilege that must be taxed: Bank

Deutsche Bank undertook a survey to examine the major global shift toward remote work

AIFs explore limited liability partnerships to bypass high taxes

Dolat Capital has been the first off the block in setting up such a structure for its Category-III fund

Taxes on fuel set to rise further to mobilise addl revenue for Covid relief

An internal examination to look at duty structure on the two products is on and exact timing of the announcement may be finalised soon, sources indicated

Tax super-rich to raise resources to fight Covid-19: Joseph Stiglitz

He also said the Indian government should not shy away from spending to control the pandemic and help the vulnerable sections

Many firms not ready for new Tax Collected at Source regime: EY-SAP India

A large segment of companies in India is not entirely prepared to deal with various tax implications of the Tax Collected at Source (TCS) provisions

Decoded: 5%  tax on foreign fund transfers that may go up to 10% for some

For education-related foreign remittances funded by loans, though, the tax will be just 0.5% for amount above Rs 7 lakh, but will go up to 5% if PAN is not provided

Advance tax mop-up dips 25.5% in Q2, led by plunge in corporate tax: Report

Advance tax collections fell 25.5 per cent to Rs 1,59,057 crore in the second quarter of the fiscal, an income tax official said on Thursday

Why a taxpayers' charter is a non-starter

The charter is a bunch of promises, full of homily-like vision statements

Modi unveils Taxpayers' Charter: Faceless assessment and faceless appeals

While faceless assessment and Taxpayers' Charter came into effect from Thursday itself, the facility of faceless appeals will be rolled out from September 25

Delhi: AAP members protest against BJP-led SDMC's new tax regime

The protest march started from the party headquarters and police stopped the protesters before they reached the BJP headquarters

AAP to protest against professional tax by South Delhi Municipal Corp

AAP will stage a protest march on Wednesday outside the Bharatiya Janata Party's head office to oppose the imposition of professional tax by the South Delhi Municipal Corporation.

Equalisation Levy: Govt not considering deadline extension for tax

The 2 per cent Equalisation Levy was introduced in the 2020-21 Budget and has come into effect from April 1, 2020

Tax authorities accessed 84 million offshore accounts in 2019: OECD

Nearly 100 countries carried out automatic exchange of information last year, covering total assets of 10 trillion euros

Broad-based criteria for safe harbour to apply to category-II FPIs

May dissuade these investors from delegating fund management responsibilities to Indian managers

Income Tax department extends five new deadlines for Indian taxpayers

The estimation poses some practical challenges and also makes it difficult to assess tax liability

GST officials detect Rs 105-cr tax evasion by Indore-based cigarette maker

DGGI had conducted searches at the firm's premises that revealed that a secret exit had been set up on the rear side through which unaccounted raw materials were brought and finished goods cleared

Delhi HC issues notice to Kejriwal govt over Covid-19 fee on liquor

The petitioner contended that the levy violates the Delhi Excise Act and corresponding rules