Hardcastle wants higher GST & input tax credit
The move could have a huge implication for the country’s restaurant sector Restaurants across India, such as McDonald’s and Pizza Hut, are currently levied 5% GST and they cannot claim ITC on the tax paid on expenses, including raw materials and rent.
NPS partial withdrawal rules and how it is taxed
NPS offers two types of accounts for an individual - Tier-I and Tier -II. It is mandatory to...
Stock investing is about how much you bought or sold when you got it right
Stock buying and selling has become as easy as sending money with ...
Tax optimiser: Salaried Kumar can save over Rs 68,000 in tax via NPS, perks
Not only should you ask your employer for the NPS benefit, but you should also invest in the scheme on your own. You can reduce your tax outgo significantly. Hence in this way, you can optimise your tax by rejigging your income and investments.
Software isn’t manufacturing, won’t be eligible for 15% tax rate
The amendment comes after industry sought clarity on whether software development could be treated as manufacturing and be eligible for the reduced tax rate. On September 20, FM Sitharaman slashed the corporate tax rate to 22% for companies that do not seek exemptions or incentives, and to 15% — from the current 25% — for new manufacturing companies.
Lotus home buyers: No transparency, remove insolvency professionals
Though the NCLT will take a final call on the matter on November 25, the removal of the interim resolution professional (IRP) and the authorised representative (AR) could further delay the completion of the two unfinished ‘Lotus’ brand projects.
How FedEx cut its tax bill to $0
The public face of its lobbying effort, which included a tax proposal of its own, was FedEx’s founder and chief executive, Frederick Smith, who repeatedly took to the airwaves to champion the power of tax cuts. “If you make the United States a better place to invest, there is no question in my mind that we would see a renaissance of capital investment,”.
Finance Commission likely to get extension for working on devolution to UTs of J&K, Ladakh
According to the Act, the distribution of taxes suggested by the 15th Finance Commission to the state of Jammu and Kashmir will have to be apportioned to the Union Territories of J&K and Ladakh. The award made by the Fourteenth Finance Commission to the existing state of Jammu and Kashmir will be apportioned between the successor Union territories of J&K and Ladakh.
South Delhi Municipal Corporation budget: Property tax hike on cards
People living in colonies in C, D and E categories may end up paying more property tax if the budget proposed by SDMC commissioner is implemented. To cover up deficit and increase revenue, it has been proposed to increase the tax from 11% to 12%.
Income Tax department raids BMC contractors
IT said they had conducted search action in Mumbai and Surat on November 6 on entry providers and beneficiaries who have been engaged in execution of civil contracts mainly BMC.
Tax department going after CXO pay cheques
The tax department has started questioning top companies and banks if they were passing on some of the common costs like salaries of chief e...
Subdued tax revenue growth suggests likely fiscal slippage in FY20: ICRA
The fiscal deficit rose by 9.6 per cent to Rs 6.5 lakh crore in the April to September period (H1 FY20) from Rs 5.9 lakh crore in H1 FY19. This was equivalent to 92.6 per cent of the revised budget estimate for FY20, largely similar to the situation in H1 FY19 (92.2 per cent of the FY19 provisional accounts).
No GST on CXO salaries: Government set to clarify
CBEC is set to clarify that common function like HRs should be out of the GST gamut
Commodity companies seek tax rebate to cut costs
A tax of 0.01% is levied on exchange-traded commodity derivatives apart from other taxes.
Tax cut shores up India Inc’s profit, but revenues slip
First turnover fall in nine quarters due to low demand, inventory pile-up & base effect.
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