Finance Minister, Arun Jaitley, surely had reasons to smile when he announced a growth in direct and indirect tax revenues for the April-December 2016 period. Of course, demonetization was only present in the months of November and December and could also manifest with a lag. However, it is surely gratifying that the government reported 12% …
The Budget (2020) has brought about changes in tax residency rules for non-resident Indians (NRIs). If you are an NRI, you would need to pay close attention to these changes. Read on to know more about NRI taxation and what it means. Also, before delving into what income tax for NRI or NRI tax means, …
For income tax assessees, the beginning of the New Year also marks the onset of the tax planning season. That is when most individuals start worrying about how exactly to reduce their tax outflow. The big debate over life insurance versus ELSS crops up at this point of time. While tax planning is a necessary …
Under the new tax rules proposed by the government, FPIs (foreign portfolio investors) may be subject to up to 43 percent tax on the dividend earned from listed Indian companies. It will be levied on investors and entities that aren’t taxed in their original country. Currently, a 20 percent flat tax is deducted at the …
El Salvador recently became the world’s first country to make Bitcoin, the cryptocurrency, legal tender. The use of the cryptocurrency will be made optional, said the country’s President Nayib Bukele. The Central American country’s president said it was aimed at enhancing financial inclusion and tourism opportunities, apart from attracting investments. The key reason for the …
Calling it an endeavour to Honour the Honest – Transparent Taxation is a platform which aims at simplifying direct tax norms to help bring transparency to the system and reduce taxpayers’ woes. In a virtual event, PM Narendra Modi will inaugurate the platform on August 12. Several chambers of commerce members, trade associations, chartered accountant associations, …
As proposed by Finance Minister Nirmala Sitharaman in her Budget 2022-23 speech, virtual digital assets (VDA) shall be taxed at a flat rate of 30%. This gave confidence to traders in cryptocurrency and other virtual digital assets about its recognition in India. Since the government is considering taxation of these assets, the banning of cryptos …
Aiming to benefit the common person, the Indian government announced exemption on an employee’s Covid treatment expenses on 25 June 2021. This exemption is also valid on expenses carried by employers or other individuals for FY2020 and the next year. Here are a few key points of this decision: The exemption is applicable to any …
Indian investors can invest in the US stock market. For Indian investors, proactively looking for overseas stock market investment opportunities to diversify a portfolio, tax implications remain a major concern. But the number of Indian investors is growing in the US stock market, and hence, we feel that it needs a detailed discussion on the …
An Overview On Friday, Reserve Bank Governor Shaktikanta Das praised the government’s decision to remove retrospective taxation, calling it “timely”. He praised the government’s handling of the pandemic-induced crisis as reasonable and balanced. The government introduced a bill in the Lok Sabha on Thursday to cancel all back tax demands against businesses, and to restore …
