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Over 100,000 new crorepati taxpayers have emerged in India in three years. What’s driving this rise in high earners?India has witnessed a five-fold surge in the number of individuals earning over ₹1 crore in taxable income over the past decade, with the p...- Vikas Vasal appointed global tax head for Grant Thornton InternationalOn the appointment, Peter Bodin, CEO, Grant Thornton International Ltd, said, “With the network strategy’s focus on growing and protecting ...
- NCLT allows merger of LLP, private companiesThe move, experts say, sets a distinct precedent as the Companies Act, 2013 and the LLP Act, 2008 do not contain any express provisions pro...
- Grant Thornton ropes in KPMG ex-partner Vasal to head tax business hereThis comes at a time when all the top firms are looking to increase their taxation practices in the next couple of years on the back of reg...
- Taxation of income from sale of listed shares: CBDT circular to reduce disputesThe circular may enhance determination of nature of income on transfer of shares. Taxpayers have an option to decide how they want to treat...
- CBDT eases taxation norms for bonds, debentures held by companiesKPMG (India) Partner Tax Vikas Vasal said this clarification is a welcome move and will avoid disputes on the period of holding for determi...
- Experts seek more clarity on PoEM norms, seek FAQs from CBDTTax experts have sought greater clarity from CBDT on draft PoEM norms that aim to determine the tax residency of companies.
- Budget shows that India is moving towards non-adversarial tax regime: Vikas Vasal"It has been proposed that the provision relating to substantial value of assets located in India would get triggered, if the Indian assets...
- Budget 2015: Government may relax LTC norms to boost tourismThe Budget for 2015-16 is likely to expand the scope of LTA and LTC by including hotel and other expenses besides travel for the purpose of...
- Budget 2015: Arun Jaitley likely to prescribe threshold for furnishing of Tax Residency CertificateThe move, according to sources, will remove the administrative burden for companies seeking overseas investments in smaller quantities.
- Budget 2015: Clarity on applicability of MAT on FPIs likelyThe I-T department's move could have an adverse bearing on portfolio investments unless some clarification is issued by the Finance Ministe...
- The prize money that you won may be taxableIt is necessary to take note of the tax obligations both as the recipient as well as the payer to avoid the euphoria of winnings
- Watch out for the changes in capital gains tax regimeOur Expert offers tips on various tax-related issues in this weekly column.
- Keep proper documents of inherited propertyOur Expert offers tips on various tax-related issues in this weekly Column.
- All gratuity received is not tax exempt despite hike in limitsOur expert offers tips on various tax-related issues in this weekly column.
- Bonanza for employees receiving gratuityAny death-cum-retirement gratuity received by an employee in accordance with the prescribed scheme/rules, is not taxable. Investing in MIP,...
- You can get tax exemption on profit from home saleIs the capital gain arising from the sale of the earlier house taxable or can one claim tax exemption?
- 'Non-profit sharing consortium members are separate cos'A tax authority has ruled that consortium members, which do not share profits or losses as a group and execute tasks requiring skills diffe...
- Service tax will add to the cost of your dream homeIt’s, important to note that certain proposals on the indirect tax front could adversely impact the cost of the housing projects and thereb...
- Taxability of income depends on residential statusOur expert offers tips on various tax-related issues in this weekly Column.
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