Question: What is the tax liability in respect of flat gifted to daughter by her father which is let out? My understanding is that the gift will not be taxable …
tax
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Salary income earned by non-resident Indians in Gulf countries would continue to be exempt from tax in India, said Union Finance Minister Nirmala Sitharaman on Thursday. Nirmala Sitharaman was reacting …
- News
News 18 Afternoon Digest: Tax Raids Carried Out on MK Stalin's Son-In-Law Sabareesan in Chennai; 3 Militants Killed in Encounter with Security Forces in Pulwama's Kakapora Area and Other Stories
Tax Raids Carried Out on MK Stalin’s Son-In-Law Sabareesan in Chennai Just four days ahead of the Tamil Nadu Assembly Elections 2021, the Income Tax Department raided four places in …
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The Central Board of Direct Taxation (CBDT) has notified new income tax return forms — ITR-1 to ITR-7 — for the assessment year 2021-22, the ministry of finance said in …
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Effective 1 April, if you are contributing more than Rs2.5 lakh in your Employee’s Provident Fund (EPF), the interest earned on the same will be taxable under the newly notified …
- TV
What Joe Biden’s $2.2 Trillion Infrastructure Plan May Mean To Media: “Broadband For All,” But A Rise In Corporate Tax Rates
Joe Biden unveiled a $2 trillion infrastructure plan on Wednesday that includes a call for “broadband for all,” comparing the need for affordable, high speed internet service to the New …
- Business
IRS tax refunds to start in May for $10,200 unemployment tax break: Here’s what you need to know
The Internal Revenue Service will begin refunding money to people in May who already filed their returns without claiming the new tax break on unemployment benefits, the agency said Wednesday. …
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Take a look at key changes that are going to take place from 1 April Interest rates of small savings schemes to be reduced Finance ministry slashed the interest rates …
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Samuel Corum/Bloomberg via Getty Images The IRS will start issuing tax refunds in May to Americans who filed their returns without claiming a new break on unemployment benefits, the federal …
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Kiyoshi Hijiki | Moment | Getty Images Nearly 3 million more business owners claimed a 20% tax deduction on their income last year relative to the prior filing season, according …
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NEW DELHI: The income tax department has sent SMSes to taxpayers on 29 March, related to mismatches between income tax returns (ITR) filed for FY2019-20 and high-value transaction. The department …
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Equity as an asset class is an important portion of an investor’s portfolio. However, tax rules vary for different types of equity instruments. For example, capital gains tax is based …
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NEW DELHI: Education loans come in handy while planning an academic future, and are a viable alternative to dipping into savings. “What makes education loans particularly attractive is that unlike …
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The last month of the year is very difficult for tax payers in terms of cash liquidity due to requirement to make investments for tax purposes with threat of higher …
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An amended Finance Bill 2021 passed by Parliament on 23 March has imposed minimum equity holding requirements on unit linked insurance plans, or Ulips, with high premiums. The original Finance …
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Individuals work hard to accumulate a retirement fund to meet daily expenses and unplanned expenditure post-retirement. It is a job half done as your money has to yield a return …
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Luis Alvarez | DigitalVision | Getty Images Americans can get a tax break this filing season for masks, hand sanitizer, sanitizing wipes and other personal protective equipment to prevent the …
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I am a software engineer with a CTC of ₹17 lakh per annum. I have been filing ITR Form-1 for the last five years. I got an onsite travel opportunity …
- Finance
Tax query: What’s the tax liability for buying resale property using proceeds of equity investment?
I am planning to buy a resale property using the proceeds from sale of my shares held in ICICI direct. What will be my tax liability, considering the fact the …
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Tax harvesting: Under this method, the taxpayer can book long-term gains in equities to the extent of ₹1 lakh and reinvest the same. The value at which the equities are …
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Doubts regarding the residency status of those who are stuck in India during FY21 were expected to be clarified in the Budget. But the Budget was silent on the issue. …
- Business
‘That works like a charm’: Tax experts find ways for their clients to qualify for the third round of stimulus checks
Millions of people who received the first two stimulus checks could watch the third round happen without them — if the House of Representative passes the Senate’s version of a …
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NEW DELHI: Reserve Bank of India regulations mandate that sovereign gold bonds must be listed on exchanges, hence one can buy and sell gold bonds on exchanges using a demat …
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My cousin participated in the e-auction of immovable properties mortgaged to one of the nationalised banks during Dec 2019 and he was declared the successful bidder of the house property …
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My son is an NRI and he wants to gift his earnings to his mother, who is a housewife and has no income. She wants to invest the amount in …
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I retired in February 2019. I received the final payment of EPF on 11 July 2019. Will the final payment of EPF be taxable? —V.K. Puri The period of service …