Page-4 of Income Tax
Tweaks to the FPIs in Union Budget
The Indian Government has made a few tweaks to the norms of foreign portfolio investors (FPIs) to attract funding for the Indian capital market. What has happened? The Indian Government had, in the recent Union Budget, announced that increased surcharge ..
Update : Erroneous reports about the Filing of Income tax Return
There were several reports in the social media that a few taxpayers were facing issues in filing the returns. What had happened? Unverified reports in the social media claimed that the large scale changes were made in the Income-tax Return ..
Structural Challenges with Indian Tax Regime
The Indian tax regime is said to be under a myriad of structural challenges. India has one of the highest effective corporate tax rates and personal income tax is highly skewed against the rich who account for a lower amount ..
India’s Path of Fiscal Consolidation
Concerns of the slowing down economy, need to pump capital to revive job creation had led to speculation that the Finance Minister would deviate from the path of fiscal consolidation. Contrary to popular beliefs the Finance Minister has chosen to ..
Budget 2019 : Tax Rates
While most economists had anticipated that the government might impose an inheritance tax on the super-rich, the government has not decided to follow through this time and has instead the tax on the rich taxpayers. What has changed? No change ..
Indian Black Money in Swiss Banks Reduces
As per a report made public by the Swiss National Bank (SNB), the money deposited by Indian individuals and enterprises in various Swiss banks has reduced by nearly 6% in 2018 to 955 million Swiss francs (about ?6,757 crore). This ..
Income Tax department alters method to tax MNCs and Digital Firms in India
The income tax department has changed the method to tax multinational companies and digital firms with permanent establishment in India by taking into account various factors like domestic sales, employee strength, assets and user base. In ‘Profit Attribution to Permanent ..
Income tax exemption limit on gratuity doubled to Rs 20 lakh
The government has increased the tax-free gratuity income limit to Rs 20 lakh. This move will benefit the public as well as private sector employees. What is Gratuity? Gratuity is the monetary benefit provided by the employer to his/her employee ..