Dairy cooperatives are seeking tax parity with companies

NEW DELHI: Dairy cooperatives, led by way of the maker of Amul butter, have requested finance minister Nirmala Sitharaman to tax them on a par with organizations after ultimate month’s reduction of company tax left them paying a better fee. “Amul and other cooperative companies feel that the arena should additionally be charged on a […]

Govts may also get greater power to tax MNCs like Google

Countries around the world, which include India, will get more strength to tax massive multinationals inclusive of Google, Apple and Facebook doing enterprise inside their borders under a proposed overhaul of decades-antique regulations. The Organisation for Economic Co-operation and Development (OECD) has proposed to extend authorities’ rights to tax multinationals, mainly large net firms, by […]

How is the hobby paid on borrowings taxed?

I am inside the enterprise of manufacturing readymade clothes. I also frequently spend money on IPOs in addition to indexed securities. My source of the budget consists of very own finances, borrowing from commercial banks, NBFCs, and personal parties. The finances borrowed are used for making an investment that earns dividend earnings and capital gains. […]

Sitharaman seeks tax professionals’ inputs to correct GST flaws

PUNE: Conceding that GST might also have some flaws in its gift form, finance minister Nirmala Sitharaman on Friday asked tax experts not to curse it and sought their assistance to make it better. The minister becomes replying to the worries raised via taxation enterprise experts right here, who stated the enterprise was “cursing” the […]

It’s Tax Time Again for the Millions Who Got an Extension

Back in the spring, hundreds of thousands of Americans requested for and obtained six additional months to record their federal profits tax returns. Now, the extension is nearly up. The new cut-off date is Tuesday. “Time is walking out,” said Lance Christensen, a tax associate at Margolin, Winer & Evens in Garden City, N.Y. “They […]

GST Input tax credit with out bill capped at 20% to plug sales leakage

Keen to plug revenue leakages, the authorities have decided to limit enter tax credit score under the goods and services tax to 20% of the eligible quantity for an entity if its provider has no longer uploaded applicable invoices detailing the payments made. There was no such restriction till now – input tax credit became […]

Returning to settle in India? Be aware of the tax angle

The most sought-after employees are those which are globally cell. Till a few years in the past, ‘mind-drain’ became certainly one of India’s finest losses in phrases of collective manpower power. The tide is fortuitously turning and nowadays it is commonplace to see many Indians who were working in outdoor India for several years returning […]