TAX IMPLICATIONS

New CBDT chairman Ravi Agrawal emphasizes the significance of decisions on the economy and ease of doing business. He calls for the creation of a 100-day action plan and stresses the importance of taxpayer trust and modern technology integration for...

In 2020-21, India's government abolished the Dividend Distribution Tax (DDT), shifting the tax burden on dividends from companies to shareholders directly. The move aimed to simplify taxation, enhance market appeal for Indian equities, stimulate dom...

GST Council Meeting: The upcoming 53rd meeting of GST Council is poised to discuss several key measures that could pave the way for significant tax reforms ahead of the government's first full budget. Among the agenda items are -- the use of approxi...

Union Budget 2024: A revenue deficit arises when a government's day-to-day expenses surpass its total revenue receipts, necessitating borrowing, divestments, or adjustments in taxes to bridge the shortfall. In contrast, a fiscal deficit occurs when ...

Union Budget: Economists discussed the upcoming Budget with Finance Minister Nirmala Sitharaman, focusing on growth, fiscal policy, investment, private sector involvement, food inflation, and debt. Key topics included the impact of AI on employment,...

Indian automakers are at a crossroads as they navigate the shift from internal combustion engines to electric vehicles. Consumers are showing a preference for hybrids over EVs, sparking debate among automakers. The government's proposed tax reductio...

The integration of AI, nano robotics, space tech, and battery tech is transforming industries and reshaping economic models. As digital workers replace human roles in areas like call centers and logistics, governments must address potential job loss...

Index funds gain popularity, with AUM rising 30% to Rs 9.6 lakh crore in a year. Over 40 funds yield 50-100% returns. Index funds offer low-cost and straightforward equity market exposure.

US-registered Razorpay is quickening plans to shift its domicile to India. For the same, it has initiated a restructuring exercise through which half a dozen India units are being brought under one holding company.

Annual Information Statement (AIS): The Central Board of Direct Taxes (CBDT) has updated the functionality of AIS which can be found on the compliance portal. Now after you put in a correction request, you will be able to see whether the reporting s...

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Patanjali Foods faces a show cause notice from GST Intelligence in Chandigarh for a Rs 27.5 crore tax claim, involving input tax, penalties under CGST and Uttarakhand SGST Acts, recovery issues, interest implications, and the need to defend its case...

In the complaint filed before the PMLA special court, the ED had alleged that a criminal syndicate of politicians, private persons, and senior government officials had siphoned off Rs 2,161 crore by selling liquor illegally from 2019 to 2022, Jairam...

The pandemic led to work flexibility, impacting NRIs with significant tax implications. The article discusses tax laws, DTAA, Act exemptions, TRC requirements, foreign assets reporting, and employer tax implications for NRIs opting for remote work.

SGB final redemption: The Sovereign Gold Bond is issued by Reserve Bank on behalf of Government of India. If you are an investor in this SGB tranche, then here are a few important things to keep in mind with regards to the maturity of an SGB tranche.

Shweta Rajani says that when making investment decisions, it is important to consider taxation and avail tax-saving provisions like Section 80C. The approaching deadline for LTCG tax highlights the implications of selling various capital assets. ELS...

When parents are married, it is the responsibility of the highest earning parent to pay income tax on gains or returns received on investments made in the name of the minor. However the situation changes when the parents are divorced, nonetheless in...

E-commerce websites like Amazon, CRED, others oftentimes runs free to play gaming contests like spin-the-wheel and others. For the purpose of income tax these games are a game of chance and are taxed at flat 30% rate plus cess, etc. Nonetheless ther...

PFRDA has now introduced phased withdrawal of the lump-sum part of the maturity amount of your NPS corpus at the time of retirement. NPS subscribers can now either opt for a lump- sum withdrawal or make periodic withdrawals (systematic lump-sum with...