Page 19 - Taxation

Budget a booster shot for India, has ambition, resolution and innovation

It was one of the toughest times in history to announce a budget, writes Harsh Goenka.

A driver of economic revival

The finance minister must be appreciated for resisting the temptation to increase taxes

Budget: Relief from double taxation for NRIs' earnings in pension account

So, if a person moves to India and becomes a resident Indian for tax purposes, they get taxed on any income they earn in these accounts

Personal I-T revenue now equals all other direct taxes: That's a problem

Until the 1950s taxes on output contributed more to government revenue than those on incomes of people and businesses. But since then the balance has gradually been reversed

NDMC rolls out property tax amnesty schemes, says North Delhi Mayor

North Delhi Mayor Jai Prakash on Thursday said the NDMC has introduced two property tax amnesty schemes for people including one for those living in 544 unauthorised colonies that were regularised

Banking on Budget: The five areas of focus for FM Nirmala Sitharaman

Given the series of policy announcements made by Finance Minister Nirmala Sitharaman in the last 9 months it is reasonable not to expect more this time

Twin blows in three months

Govt must move on, accept retro tax arbitration awards

Post-Covid world order holds limitless opportunity for India: Chandrasekaran

But for the country to be ready to participate, there is a need to establish regulatory standards on data and taxation in general, Tata Sons Chairman N Chandrasekaran said

A three-pronged strategy

Lay out a credible fiscal consolidation plan, reverse tax buoyancy decline, and boost non-tax revenues

Avoid taxing hardship compensation twice

This pertains to the taxation of hardship compensation paid by developers to homeowners in connection with the redevelopment of old residential properties

Receiving pricey diwali gifts from your non-relatives will attract taxes

Section 2 (24) of the Income-Tax (I-T) Act deals with gifts received that will be treated as a person's income, while Section 56 (2) deals with both the taxation and exemptions on them

I-T department keeps tolerance range for transfer pricing unchanged

This implies that there will be no taxation relief for businesses dealing in related-party transactions

Next budget should bring down personal tax rate to 25%: New PHDCCI chief

In a Q&A, Sanjay Aggarwal calls for focus on infra, flow of investments, creating a conducive environment for companies looking to shift businesses from other countries to India

Necessary, not sufficient: Labour reforms a good start; will we see more jobs now?

If the law changes work, everyone can celebrate. If not, it will be for want of reforms in several other areas like land, transport, electricity, and tax laws, writes T N Ninan

From road transport to health insurance, tax rules that changed from Oct 1

TCS at the rate of 5% imposed on money remitted outside India

CBIC gives partial relief to companies from compulsory e-invoicing

The relief has been provided for the month of October only

I-T department puts in place safeguard measures for e-assessment

Aims to address fears that the process may lead to a rise in ad hoc additions in demand

The Modi govt must forget pakoras and let the likes of Toyota create jobs

When India should be presenting itself as an alternative to China by making it easy for enterprises, we find the old and discarded Soviet-style statism creeping back

Centre releases Rs 6,195 crore to 14 states as devolution of taxes

Office of Union Finance Minister Nirmala Sitharaman in a tweet said that this would provide them with additional resources during the Covid-19 crisis

Rift over GST compensation sets stage for showdown between Centre, states

The GST law requires the federal government to compensate states for five years through March 2022 for any revenue loss on account of the new tax