Tag Archives: Tax

Invest in debt funds for at least 3 years for income tax benefit

consider at least a three-year time frame for getting better post-tax returns from your debt fund investments. Photo: iStock MORE FROM MONEY » Once-Iffy US-focused pot stocks are becoming investor darlings Axis Bank m-cap erodes by ₹4,709 crore after Q1 results India’s Q1 fiscal deficit at 68.7% of 2018-19 target Can standardisation of exclusions in health insurance policies help customers? ... Read More »

Who can claim tax benefit on interest paid on education loan?

The advantage of an education loan is that if the parent doesn’t have money, the loan can be repaid after the child completes the course and gets a job. Photo: iStockphoto Education costs are spiralling. The fee for a masters or diploma in management from premier institutes can be about ₹ 25 lakh, while many private medical institutes charge about ... Read More »

Trump tax bill drives world markets to record highs – business live

The New York Stock Exchange. Photograph: Drew Angerer/Getty Images City unhappy about Barnier’s Brexit views Britain’s financial sector has reacted badly to the news that Brussels won’t accept a special deal for the City of London after Brexit. Michel Barnier, the EU’s chief negotiator, told the Guardian that the UK couldn’t have a bespoke deal that gave preferential treatment to certain ... Read More »

Small Business Groups Prefer Senate Tax Cut, But Mostly Don’t Love It

House Republicans appear to have largely given into their Senate colleagues on a tax cut bill, news reports suggest. (Photo by Aaron P. Bernstein/Bloomberg) You might have thought that when it comes to the competing tax cut bills that have been duking it out behind closed doors at the Capitol, advocates for small business would feel like they’re living in ... Read More »

Morneau’s small business tax changes promise simpler rules for income sprinkling

Federal Finance Minister Bill Morneau on Wednesday released new rules to clarify how family members will be treated under tax changes for small businesses. (Fred Chartrand/Canadian Press) The federal government has unveiled its new proposal to curb “income sprinkling” by some small business owners to family members, with substantive changes to a much-criticized initial proposal unveiled in the summer. But ... Read More »

House Committee Approves Small Business Tax Changes

The House Ways and Means Committee last week approved a revised bill that would lower taxes for many small business owners, and Senate Republicans are also proposing changes in the tax laws. The House bill provides for a 25 percent tax rate for many sole proprietors, partners and shareholders in what are known as S corporations. These owners have what are called ... Read More »

Income Tax Scare For Startups For Issuing Preference Shares At A Premium Over Fair Market Value; Tax Experts Also Under Scanner For Valuation Of Startups

In a tax scare for startups, the Income Tax department has sent notices to startups and unlisted subsidiaries of some major Indian companies and multinationals for raising funds through preference shares in excess of what it considers the fair market value. The department has sent notices to about 200 entities under Section 56(2)(vii)(b) of the Income Tax Act, 1961, in ... Read More »

TN theatres shut for 2nd day over 30% entertainment tax even after GST

Theatres across Tamil Nadu will continue to remain shut on Tuesday for the second consecutive day protesting against the state government’s decision to levy 30 per cent entertainment tax over and above the 28 per cent Goods and Services Tax (GST). The double taxation has left the Tamil filmdom in disarray, forcing the Tamil Nadu Film Chamber of Commerce to announce shutdown of theatres ... Read More »

Families could see up to half the value of their home put at risk under ‘dementia tax’

Ministers refused yesterday to rule out that the cap could be as high as £200,000 or £300,000 Families could see up to half the value of their home put at risk under the Conservative’s plans for a cap on their controversial “dementia tax”, according to Liberal Democrat research. Theresa May is under pressure to spell out exactly how much pensioners ... Read More »

Digital Payments: Indirect Tax Assessments Not To Be Reopened If Turnover Rises

The governmenthas been encouraging people to shift towardsdigital mode of payment. New Delhi: The Revenue Department on Sunday said officials will not reopen the past assessments of excise and service tax of assessees even if their turnover in the current period increases on account of digital payments in the wake of demonetisation. In a circular to excise and service tax chief commissioners, the Central Board ... Read More »