Differentiating fake NRIs from the real ones

Nagesh Kini | 10/4/2013 @ 10:55am

By ushering the end of the special status, the normally resident Indians, masquerading as pseudo NRIs should be stopped from holding accounts in tax havens More

ISF seeks rollback of securitisation tax proposal

Moneylife Digital Team | 8/4/2013 @ 6:01pm

Even though the budget exempts securitized vehicles from the ambit of income tax, they will be taxed if they distribute income to stakeholders. This will scare away entities investing in such instruments, which will otherwise broaden the scope of the financial markets in India, particularly fixed income market, feels the Indian Securitisation Foundation More

Exempt vehicles below Rs10 lakh from SUV tax, says Patel

Moneylife Digital Team | 4/4/2013 @ 3:24pm

According to Praful Patel, it is wrong to levy the SUV tax on cheaper SUVs such as Tata Sumo and Mahindra Bolero, which transport people in rural areas More

Taxes: I-T Dept To Probe 1.2 Million Non-filers

Moneylife Digital Team | 2/4/2013 @ 11:09am

More

Mauritius to take steps to avoid misuse of tax avoidance treaty

Moneylife Digital Team | 6/3/2013 @ 12:26pm

The announcement made by India’s finance minister in his Budget speech on making the TRC “a necessary but not sufficient” condition to avail of the benefits under double taxation avoidance agreements “has created much confusion among investors in India and internationally, including those using Mauritius to do business with India More

Time to tax so-called ‘charitable’ educational institutions

Anil Agashe | 4/3/2013 @ 2:54pm

Education is no more a charity, it is a big business. Despite earning huge income, most educational institutions enjoy tax exemption since they are registered as charitable trust. Can we plug this loophole, asks Prof Anil Agashe? More

FM gets tough with tax evaders, rules out amnesty

Moneylife Digital Team | 4/3/2013 @ 1:19pm

Chidambaram pointed out that no tax burden had been imposed in the Budget on any category of people, other than a “small burden” of a 10% surcharge on the relatively affluent 42,800 people with incomes of over Rs1 crore a year More

Tax raised is fine but what about accountability in spending it?

Veeresh Malik | 1/3/2013 @ 7:11pm

While our government’s tax rates are as per developed country standards, India’s accountability for the way money is spent are as per third world standards More

Who will benefit from the Rs1 lakh interest benefit on home loan?

Vinod Kothari | 1/3/2013 @ 7:05pm

The new section 80EE provides a deduction for interest paid on a home loan, spread over two income years—2013-14 and 2014-15. However, the benefit is more for individuals having annual income of above Rs6 lakh since the additional benefit can only be absorbed beyond this level More

FM contradicts FDI and tax policies: Seeks to promote FDI with bearish tax provisions

Soma Bagaria | 1/3/2013 @ 4:07pm

It is unfortunate that the government has taken upon itself to undo and nullify legal precedents by amending the I-T Act that may prove beneficial to foreign investors from tax perspective More

Tax havens: Why they exist and continue to thrive

William Gamble | 25/2/2013 @ 1:00pm

For small countries to create an entire profitable industry by passing a few laws appears to be a cheap and effective road to economic development. It is estimated that the size of assets held in these tax havens is in excess of $21 trillion, and most of which is beyond the reach of tax collectors More

Tax Saving Tricks you don’t want to miss in 2013

Raj Pradhan | 25/2/2013 @ 11:13am

Our cover story last year, detailing 14 tips for saving taxes, is still among the top articles on Google. Raj Pradhan has come up with a new set of tax-saving tips that you and your family can use. More

How to deal with the exorbitant increase in property tax in Mumbai

Nagesh Kini | 6/2/2013 @ 12:34pm

A new notice by Municipal Corporation of Greater Mumbai for revising property taxes have raised serious concerns for housing societies and building owners. Property owners ought to carry out their own valuations of their properties to compute the correct value per flat in order to establish the right dues by demanding a rectification backed by authentic independent professional certification More

Government to come out with modified DTC Bill: Shome

MDT/PTI | 31/1/2013 @ 5:31pm

The Parliamentary panel had suggested raising the annual income exemption tax limit to Rs3 lakh as against Rs2 lakh proposed in the original DTC Bill and also to adjust subsequent tax slabs More

Ghost of GAAR buried: Chidambaram

MDT/PTI | 22/1/2013 @ 7:25pm

Last week, Chidambaram had announced that implementation of GAAR, which would have given unbridled powers to taxmen to check evasion of taxes by foreign investors, has been postponed to 2016 More