-
March 28, 2023 05:42 PM IST Tax treatment for gains made on investments through NPS Tier-II accounts ought to be similar to that of mutual funds, but remains a grey area in the absence of a formal government notification, say tax experts
-
March 28, 2023 12:02 PM IST With the proposed change, retail investors may stay away from non-equity mutual funds because if they are risk-averse and conservative in their approach, they may just find it easier to park monies in fixed deposits
- March 28, 2023 09:41 AM IST
Finance minister Nirmala Sitaraman proposed the amendment to introduce marginal relief, implying that the tax liability cannot be greater than the income that exceeds the threshold.
- March 27, 2023 12:54 PM IST
The amendment to the finance bill fails to address the larger issue of varied capital gains tax liability across different assets, creating more confusion
- March 26, 2023 11:56 AM IST
Currently, portable X-ray machines and non-portable X-ray generators and apparatus attract 10 percent import duty.
- March 24, 2023 08:45 PM IST
In a big blow to mutual fund (MF) investors, capital gains from debt funds and certain other categories of non-equity MFs are set to be taxed at a higher rate.
- March 24, 2023 05:53 PM IST
The amendment to the Finance Bill, 2023, proposes to bring taxation of debt mutual funds on par with other debt instruments, like fixed deposits, by abolishing long-term capital gains. This also closes the indexation facility that came with it.
- March 24, 2023 12:42 PM IST
At times, just top-ups in existing investments might suffice
- March 24, 2023 10:34 AM IST
Taxpayers can use the mobile app to view their information related to TDS/TCS, interest, dividends, share transactions, tax payments, Income Tax refunds, Other Information (GST Data, Foreign Remittances, etc.) as available in the Annual Information Statement or Taxpayer Information Summary.
- March 23, 2023 09:02 AM IST
All section 80C instruments come with lock-in periods.
- March 21, 2023 03:50 PM IST
The clock has started ticking for those who have not made their tax-saver investments yet. March 31 is the last date to complete your tax-planning exercise for the financial year 2022-23 and claim deductions of up to Rs 1.50 lakh under Section 80C. Well, better late than never. But we tend to make mistakes, when in a rush. Watch this video to find out 4 mistakes that you need to avoid while devising a tax-saving plan at the last minute.
- March 20, 2023 11:56 AM IST
Many people who don’t understand the need to save for the future, may decide not to save anything at all, if they have the option to pay lower taxes without deductions under the new tax regime. For such people with little to no savings, the negative fallout from this issue will manifest in the next decade or two.
- March 18, 2023 06:57 PM IST
Central Goods and Service Tax (CGST) Delhi South Commissionerate conducted inspection at the registered premises of three bogus firms/company, namely M/s. NexGen Busicorp, M/s. XEL Informatics and M/s. GW Infotech Pvt., engaged in fake invoicing and circular trading, according to a statement.
- March 18, 2023 05:10 PM IST
Are you looking for ways to save the tax on your income? In this video, we tell you five tax-saving instruments, divided on the basis of the minimum investment tenure and the rate of returns so you can select as per your requirement and choice. Watch!
- March 17, 2023 10:59 AM IST
Taxation on crypto gains is based on the principle of the residence of the person and the source of income. Worldwide income of Indian residents is taxable in India. However, NRIs are subject to source-based taxation. Read on to find out what that means.
- March 15, 2023 11:15 AM IST
The government, presenting the 2023/24 budget on February 1, said it would scrap the tax exemption on the total returns upon maturity of life insurance policies if their aggregate premium exceeded 500,000 rupees ($6,103).
- March 15, 2023 10:41 AM IST
Given the lack of clarity over certain aspects of crypto taxation, investors would be better off taking a chartered accountant or tax portal’s help in filing their taxes for this year.
- March 14, 2023 11:25 AM IST
Investment in NSC makes sense for conservative investors at this moment, says a Mumbai-based mutual fund distributor. However, investments in NSC and tax-saving FDs come with a five-year lock-in, which is comparatively higher than the three year lock-in on ELSS.
- March 13, 2023 08:07 PM IST
The oil and gas sector contributed Rs 3.07 lakh crore and Rs 2.37 lakh crore during 9MFY23 to the central and state exchequer respectively.
- March 13, 2023 08:05 AM IST
An equity-linked tax saving scheme (ELSS) or tax-saving mutual fund plan is the only pure-equity investment in the Section 80C tax deduction basket. But check your existing EPF, PFF contribution as well to ascertain how much you really need to invest in an ELS.
- March 11, 2023 12:20 PM IST
Direct tax collection, net of refunds, stands at Rs 13.73 lakh crore which is 16.78 per cent higher than the net collections for the corresponding period of last year.
- March 15, 2023 04:06 PM IST
Claims for certain expenses must only be routed through your employer. Leave Travel Allowance is one such. You cannot claim it directly while filing your returns.
- March 10, 2023 05:53 PM IST
The reduction in jet fuel prices is too insignificant to pass on in view of continued high demand in the domestic market.
- March 08, 2023 07:27 PM IST
Former Delhi deputy minister Manish Sisodia was arrested alleged scam related to the now-withdrawn excise policy of the Delhi government. The now-withdrawn new excise policy made around 8900 cr rupees for Delhi. And Just like Delhi, many other states depend on alcohol for revenue. Apart from Gujarat, Bihar, Nagaland and Mizoram, many Indian states have different forms of taxation on alcohol manufacturing and sales. But why is alcohol so crucial for states? Watch the video to know the entire story.
- March 06, 2023 03:02 PM IST
The increase in the tax on palm oil could lift local prices, making the tropical oil a little less competitive than rival soyoil and sunflower oil.
