TAXATION


Moneylife Digital Team 03 January 2012
A few months ago Reliance and Birla Mutual Funds were pushing hard a combo plan of mutual fund and insurance. One investor is now caught in a bind having fallen for Reliance’s pitch. Don’t expect SEBI to do anything about it though If you were a mutual fund investor, investing in...

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Moneylife Digital Team 25 November 2011
L&T Infrastructure bond issue will close on December 24, 2011 L&T Infrastructure Finance Company Ltd to issue Tranche 1 Bonds starting , on November 25, 2011, through a public issue of long term infrastructure bonds with a face value of Rs1,000 each in the nature of secured, redeemable,...

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Gurpur Gurpur 26 September 2011
India is a tax haven for the rich as they do not have to pay any tax on their dividend income. But the middle-class citizen has tax deducted at source even on the paltry interest received from savings bank accounts President Obama of the United States is proposing to levy a tax on people...

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Gurpur Gurpur 08 August 2011
As it is the returns earned on bank deposits is not keeping pace with inflation. Besides, people face innumerable difficulties in getting the correct tax certificates to file tax returns As you walk to the income-tax office in Bengaluru, you will pass by a big hoarding outside that reads,...

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Moneylife Digital Team 13 July 2011
Organisations deducting TDS are required to submit the data to the Tax Information Network on the NSDL site on the basis of which taxpayers are supposed to file returns Taxpayers have been hampered in filing income-tax returns, due to an unexplained delay in updating of TDS data on the...

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Who says the government wants to go after black money stashed abroad? The fact that at least 18 Indians have nearly Rs44 crore stashed in Liechtenstein, a tiny European tax haven, was known and reported by the media way back in early 2008. Their names were among the 1,400 that a bank...

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Moneylife Digital Team 08 June 2011
Pune tribunal favours individual investors in distinction between business transaction and investment transaction. However, this matter will continue to be decided by the assessing officer on a case-by-case basis The Income-Tax Appellate Tribunal (ITAT) in Pune has held that a...

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Moneylife Digital Team 30 May 2011
Worried tax assessees complain about lack of communication with Bengaluru-based CPC  The last date for filing income-tax returns is near. So the rush to file returns is on. However, despite the I-T department's initiative to provide electronic facility (e-filling) for filing returns,...

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Moneylife Digital Team 23 May 2011
One of the major problems of taxpayers is that they have to communicate with the Centralised Processing Centre based in Bengaluru only through letters sent by ordinary post A large number of taxpayers across the country face various difficulties in rectifying the intimation issued by...

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Right from the definition of a ‘senior citizen’ for tax evaluation to the definition of a ‘Non-Resident Indian’, our tax and forex laws are full of inconsistencies and discrepancies. It is high time the government removed these lacunae Our laws—mainly those dealing in economic matters...

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The discontinuation of the tax holiday on the STPI scheme and the extension of MAT to SEZs has dealt a double blow to  IT and ITeS industries In the 1917 work, The Silence of the Sirens, the great philosopher Franz Kafka writes-"Someone might possibly have escaped from their singing; but...

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Munira Dongre 01 March 2011
The paltry rise in general individual tax exemption limit was a blow; the rest of the Budget continues to lean more towards ‘populist’ than ‘reformist’, but the FM has successfully skirted outright criticism both ways The market is always right-after initially rising as much as almost...

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Moneylife Digital Team 01 March 2011
Industry, analysts welcome clutch of proposals for housing for weaker sections and lower income group New Delhi:  The government has proposed a full tax rebate on affordable housing projects under a notified scheme, while also raising the ceiling of 1% interest subsidy on home loans up...

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Moneylife Digital Team 28 February 2011
Six paragraphs of the finance minister’s Union Budget speech were devoted to legislation and other steps to tackle corruption. Crusaders don’t believe the government has the will to follow cases to the end Following a year of national outrage over scams and the repeated raps from the...

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Debashis Basu Debashis Basu  and   Raj Pradhan Raj Pradhan 24 February 2011
In your desire to save tax, don’t buy a flawed product.  Debashis Basu & Raj Pradhan explore the tax-saving traps best avoided and reveal a right approach to save tax The period between January and March is the busiest one for life insurance companies. Lakhs of insurance agents...

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Raj Pradhan Raj Pradhan  and   Jason Monteiro Jason Monteiro 21 February 2011
Want to file your I-T tax returns online? Here is a review of your various options E-filing and e-payment have garnered interest among not just individual taxpayers, but also corporate taxpayers, for service tax, excise tax and various other levies. The government has made e-filing...

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