Investors who invest in the Indian market are well aware of the tax implications. But what about taxation when you invest in US stocks. Taxation remains the primary concern for Indian investors exploring international investments. The tax policies are critical to understanding if the net return is worth the effort. If you are exploring investment …
Come January, and there is a frantic rush among tax payers to rustle up all the required proof to claim deductions from taxable income. Under Section 192, your employer is obliged to deduct tax from your salary, if you are on their rolls, and deposit tax deducted at source (TDS) into the government account. How …
The current fiscal year will shortly come to a close, and the next fiscal year will begin on April 1. Certain income tax regulations have been effective for transactions beginning in the current fiscal year, and taxpayers should be aware of them. Let’s take a look at some of the significant changes that will affect …
The Central Board of Direct Taxes (CBDT) stated on January 11 that the deadline for filing income tax returns (ITR) in audit cases has been extended to March 15, 2022, while the deadline for submitting tax audit reports has been pushed back to February 15, 2022. The decision came after numerous chartered accountant groups urged …
Calling it an endeavour to Honour the Honest – Transparent Taxation is a platform which aims at simplifying direct tax norms to help bring transparency to the system and reduce taxpayers’ woes. In a virtual event, PM Narendra Modi will inaugurate the platform on August 12. Several chambers of commerce members, trade associations, chartered accountant associations, …
Individual taxpayers now have time till December 31, 2020, to file ITR for FY19-20. Taxpayers, who need their accounts audited got an extension till January 31, 2021. The Central Board Of Direct Taxes (CBDT) issued a press release regarding the updated tax filing deadline. Earlier, the last date to file taxes was November 30, 2020. …
Have you kept track of your income and how exactly you can optimise your earnings by investing in tax-saving instruments? Tax planning is a key element of your personal finance and spending an hour learning all about it can indeed help you save taxes, almost a month’s worth of it. If you don’t make use …
GOI entered a consensus framework, an effort by the US Government, to levy taxes on MNCs. Representatives from 130 countries, including G20 and OCED members, reached this agreement on Thursday at a meeting held in Frankfurt, Germany. It presents a broader outline of the necessary changes to bring a uniform structure of imposing taxes on …
An Overview According to figures provided by the Controller General of Accounts (CGA) on Friday, the government’s fiscal deficit at the end of June was Rs 2.74 trillion, or 18.2 percent of the full year’s budget forecast. After a drop in tax receipts owing to pandemic lockdown, which led to the worst recession in seven …
The government may reportedly bring out new rules in the coming days in a bid to resolve the issue of retrospective taxation. According to reports, the government is considering feedback it has received from firms on the draft rules it had issued earlier on the subject. The Central Board of Direct Taxes (CBDT) had issued …
