Lack of Interest & confidence of investors: At present, the investors in India prefer to invest in mutual funds as a substitute of fixed deposits in Banks. About 75 percent of the investors are not willing to invest in… Read more
Author: Admin
TAX SAVINGS OF MUTUAL FUNDS THROUGH ELSS
A significant amount of your earning is usually eaten away by taxes. To ensure you keep more of what you make, tax planning becomes imperative. Which means, you need to invest your money in places that help you save taxes… Read more
Ease of doing Business & Dispute Resolution effective from 1st April, 2017
Exemption from Dividend Distribution Tax (DDT) on distribution made by an SPV to Business Trust effective from the 1st day of April, 2016 Modification in conditions of special taxation regime for off shore funds Section 9A Enabling provision for implementation… Read more
Clarifications on levy imposed on jewellery
In this year’s Budget, a nominal excise duty of 1% [without input tax credit] and 12.5% [with input tax credit] has been imposed on articles of jewellery. Even for this nominal 1% excise duty, manufacturers are allowed to take credit… Read more
Measures to promote socio-economic growth
1.Exemption of income of Foreign company from storage and sale of crude oil stored as part of strategic reserves In order to set up underground storage facility for storage of crude oil as a part of strategic reserves which entails… Read more
How CBDT plans to add new Taxpayers in 2016-17
STRATEGY TO ADD NEW TAX PAYERS Background 1. Revenue augmentation through Widening of tax base has been a constant endeavour of the Income Tax Department. Organized data collection in the department is mainly through following methods: i) Electronic filing of… Read more
An Overview on Different Types of Income Tax Deductions in India
Income tax can be defined as the percentage of your income which you pay to the government in order to fund infrastructural development. Taxes account for a major portion of the income which is earned by the Indian government. In… Read more
Monsoon session of Parliament might pass GST Bill. What does it mean to you and me?
The Good and Services tax is the biggest indirect tax reform since 1947 and it has potential to lead the economic integration of India. This Monsoon session of Parliament might succeed in passing the GST Bill. If the GST Bill… Read more
Budget changes in excise duty for imitation jewelry, pearl, coins, precious metals as per HS code 71
As per Indian budget 2016-17, 1) Basic Excise Duty of 1% (without Cenvat Credit) and 12.5% (with Cenvat Credit) is being imposed on Articles of Jewellery [excluding articles of silver jewellery, other than those studded with diamonds, ruby, emerald or… Read more
Messer Holdings: Supreme Court Refuses to Decide on the Enforceability of Share Transfer Restrictions
The question of enforceability of share transfer restrictions in Indian companies has been a vexed one. Although the Bombay High Court has sought to bring about some resolution of the issues in its leading judgments of Messer Holdings v. Shyam… Read more