Tag Archives: Tax

Tax Raids At Properties Of Real Estate Company In Delhi, UP Underway

Income Tax Department is conducting searches at the properties of real estate company ACE Group and its promoter Ajay Chaudhary in Delhi, Noida, Greater Noida, and Agra, said sources on Tuesday. According to the sources, Mr Chaudhary is said to be close to a political leader of Uttar Pradesh. The Income Tax sleuths are also searching at the Corporate office ... Read More »

₹ 70 Crore Black Money Found After Income Tax Raids On Karnataka Civil Contractor

The Income Tax Department has detected unaccounted income of more than ₹ 70 crore after it recently raided a leading civil construction group of Karnataka, the Central Board of Direct Taxes (CBDT) said on Wednesday. The searches were carried out on October 28 at multiple locations in north Karnataka. “The search action has led to detection of unaccounted income of more than ₹ 70 ... Read More »

Modi’s big tax cut unlikely to spur job bonanza in India

MUMBAI/NEW DELHI: With one eye on flagging demand, businesses in India are likely to bank the government’s $20.4 billion corporate tax windfall rather than unleash the investments that Prime Minister Narendra Modi hopes will create millions of jobs and revive the economy. The tax cuts, which Modi vowed would woo global private investment and improve India’s competitiveness, came as a surprise to ... Read More »

Tech startups and incubators applaud FM’s tax cuts and CSR initiatives

Bengaluru: The latest corporate tax cuts announced by the finance ministry will the reduce cost of capital and incentivize more investments in the consumer Internet segment, according to tech startups and investors in the startup space. The Finance Ministry last week effectively reduced corporate taxes for domestic companies to 25%, down from around 30%. Apart from this, the ministry also widened ... Read More »

Bernie Sanders endorses a targeted advertising tax to fund local journalism

On Tuesday morning, Sen. Bernie Sanders (I-VT) unveiled a comprehensive plan to protect journalism, including revamped antitrust action against Facebook and Google and new collective bargaining powers for media companies. But Sanders also calls for a more ambitious idea that has been floating around left-wing policy circles all year: a tax on targeted advertising that would funnel money directly from ... Read More »

Govt To Ease Income Tax Norms To Help Startups Receive Benefits

After being re-elected for the second term, the Modi-led government is now planning to ease the tax norms to provide advantages to startups under the income tax law which allow 100% tax deduction. In 2016, the government had announced a 100% tax deduction for any three consecutive years. The startups which did not have a total turnover of INR 25 Cr and ... Read More »

Simpler GST turns out to be bad business for India’s tax consultants

MUMBAI: For a newly minted partner in one of the Big Four professional services firms, becoming a stay-at-home dad had never crossed his mind. That, until last month. He had joined the company as a partner in 2016, with a 30% pay hike, from a rival firm. With an eight-figure salary, a chauffeur-driven, high-end German car and a penthouse in ... Read More »

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 »