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HOMI MISTRY
Crypto industry asks Centre to rethink on proposed TDSThe industry also urged the government to reconsider the decision to levy a tax of 30% on current market value when crypto assets are gifte...- I am a senior citizen and I did not incur capital gains in FY 2019-20. Can I file ITR-1?As per the ITR forms notified by the government, an individual is eligible to file a tax return using ITR-1 if the total taxable income fro...
- How should the income from stock trading be accounted for tax purposes?Since you have income from stock trading, you will need to use ITR-2 to file your tax return. However, if you are doing any intra-day tradi...
- Do I need to include the withdrawn EPF proceeds in ITR after leaving the job?At the time of withdrawal, the PF authorities will deduct tax at 10% on entire PF proceeds (assuming you have furnished your PAN to the PF ...
- Employee’s contribution to PF will be reduced to 10%. Will it increase the tax burden?The reduction in contribution will lead to an increase in your takehome pay which, in turn, will be taxed at your income-tax slab rate. Thi...
- Can I avoid capital gains on sale of property?Tax on capital gains is needed to be paid when property or any other asset is sold by an individual.
- Clarity needed on carry forward, set-off of losses when shifting between two tax regimesIf an individual opts for new tax regime, the question is what will happen to the existing brought forward losses from house property. Will...
- Can laid off employees save tax on their severance pay?According to the provisions of Rule 21A(1)(c), an individual will be eligible to claim relief under Section 89 in respect of compensation r...
- Do senior citizens with income less than Rs 5 lakh need to pay tax on FD interest income?You are eligible for a basic exemption of Rs 3 lakh plus a tax rebate under Section 87A on taxable income up to Rs 5 lakh for the financial...
- Budget 2019: How much will extra Rs 1.5 lakh deduction on loan interest benefit home buyers?The budget increases the tax surcharge on the super rich and makes filing tax returns compulsory if you deposit more than Rs 1 crore in a c...
- Can a retired person claim the Rs 40,000 standard deduction?
- Mistry vs Mistry: Mehli Mistry counters charges slapped on him by the ousted Tata Sons chairmanMehli Mistrty believes that had Cyrus’ father Pallonji Mistry been active, this point of no return at the Tata group would never have been ...
- Ratan Tata may follow his old strategy of getting outsider CEOsMistry was family through the marriage and yet he wasn’t a Tata; he had spent time on Tata Sons as an independent director, and yet had nev...
- Government sets up 10 member panel to simplify income tax lawThe panel, headed by retired Delhi high court judge R V Easwar, has also been tasked with identifying provisions and phrases in the I-T Act.
- Budget 2014: We expect re-introduction of exemption on investment in infra under 80CCF: Homi Mistry, DeloitteAlso, the FM could increase the basic exemption limit and apply 30% slab rate to income levels above Rs. 20 lakh instead of the current Rs ...
- Budget 2013: New home loan tax deduction positive, but fine-print restrictiveThe fine print of tax deduction dampen the spirits of many. A borrower can claim this deduction only if the loan amount is less than Rs 25 ...
- Govt may put on hold implementation of EPFO circularAccording to the circular, inquiry against employers can only be initiated after "actionable and verifiable information" is placed for cons...
- Tax residency certificate now mandatory for foreign investorsAll foreign investors will have to produce tax residency certificates of their base nation to claim benefits under the double taxation avoi...
- Have assets located outside India? Here's what you should knowSuch individuals should file a tax return to report such foreign assets, including any foreign bank account or any financial interest in an...
- Come October, TDS slips to be must for registering propertyAfter imposing a 1% TDS on property transactions above a threshold, govt plans to make it mandatory for people to show proof of this tax pa...
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