Taxation - Angel One

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 …

The government may reportedly bring out new rules in the coming days in a bid to resolve the issue of retrospective taxation. According to reports, the government is considering feedback it has received from firms on the draft rules it had issued earlier on the subject. The Central Board of Direct Taxes (CBDT) had issued …

2021 has been an outstanding year for India’s stock market, with an unprecedented bull run. Resultantly, investors have booked profits throughout the year. However, there are income tax implications associated with it, depending on the nature of the trades. Mentioning salary, rental income, interest incomes, and likes is a common practice while computing taxes, factoring …

What to do if you missed your tax filing deadline… Filing tax returns is every Indian citizen’s duty as long as they fall within the taxable income limits. Any individual assessee with an annual income of Rs.500,000 is obliged to file his/her returns. Normally, the last date for filing returns is the last working day …

From a policymaker’s perspective, there were a fair amount of negative expectations built around the Union Budget. More so, from a capital market perspective! Interestingly, the budget refrained from most of these negative expectations which was well received by the market. Normally, budgets are not just evaluated in isolation but with reference to the expectations …

Direct taxation is normally one of the key areas to be watched in any budget. Broadly this budget is likely to focus on 2 key themes. Firstly, the focus of the Union Budget will be on mitigating the pain of the small and medium sized tax payers to compensate them for the difficulties they had …