Page 15 - Tax

From insurance policies to MFs, here are the new tax rules from April 1

What changes: Tax on proceeds from high-value insurance policies, higher tax on debt MFs and more

Hike in withholding tax rate: Indian arms of MNCs may not feel sharp pain

India's tax treaties with most major economies cap withholding tax on royalties and technical fee at 10%

Share of govt employees paying individual tax has doubled in 9 years

In FY21, the time till when data is available, the number of government employees paying personal tax increased to 12.8 million, out of 68.4 million personal taxpayers

Indian banks to gain $36 bn in deposits as mutual funds get taxed

The move comes as a respite for the financiers as the widening gap between credit off-take and deposits has sparked risks of asset-liability mismatches and pushed up funding costs

Tax treatment

Major changes without debate should be avoided

Removal of LTCG tax benefits on debt MFs pushes corporate bond yields

Following govt's latest move, tax would be computed on based the investor's tax bracket; levy could be as high as 30%; Centre's step puts the tax for MF units at parity with that for bank FD

Finance Bill 2023: Debt MF tax changes to hit fund houses; AMC stocks fall

Industry expects inflows shrinking in the medium to long-horizon debt funds

March 31 is here: Link PAN with Aadhaar, file updated ITR & submit Form 12B

Linking PAN with Aadhaar, submission of Form 12B are other tasks that must be completed be before this date

Experts welcome changes related to withholding tax hike in Finance bill

As per the Finance Bill, specified mutual funds where at least 65 per cent investment are in equity shares of domestic companies are also included in scope of the above deeming provision

Windfall tax on crude oil slashed to Rs 3,500/tonne, duty on diesel hiked

Petrol and Aviation Turbine Fuel (ATF) have been exempted from the export levy

Govt evaluating measures to bring down tax burden on PE/VCs in India

It is expected to be introduced in Parliament's monsoon session

LIVE: Strong earthquake tremors felt in Delhi, other parts of north India

Catch all the latest news updates from across the globe here

Top headlines: UBS needs RBI nod for C-Suisse, windfall tax on oil slashed

Business Standard brings you top headlines at this hour

Tax demands of Rs 13,566 cr raised in 4 fiscals under black money law: Govt

The income tax department raised tax demands amounting to Rs 13,566 crore during the last four financial years under the black money law to deal with undisclosed foreign income and assets, the government told Parliament on Monday. In a written reply to a question in the Lok Sabha, Minister of State for Finance Pankaj Chaudhary informed that 183 assessment orders were passed in 2021-22 and a demand of Rs 5,350 crore was raised under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. In the four fiscals starting 2018-19, a total of 349 assessment orders were passed and a demand totalling Rs 13,566 was raised. The minister also informed that 648 disclosures involving undisclosed foreign assets worth Rs 4,164 crore were made during three months of a one-time compliance window, which closed on September 30, 2015, under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015. The amount collected by way of tax and pena

How brands use the 'for women' gimmick to sell products at a premium

While brand experts count on aspirational value, the undue premium on personal care remains discriminatory

If OECD has its way, logging into Zoom at a beach could land you a tax bill

Currently firms and workers are facing a jumble of complicated rules on when a worker needs to pay tax if they are staying in different countries for prolonged periods

Fraternity, prosperity and polarisation

Economic stagnation is the advance payment for polarisation, which extracts a terrible price

Angel tax relief likely for Sebi-enrolled FPIs; rules expected by April 15

The angel tax is on the amount received as more than fair market value as income in the hands of a company

Govt releases Rs 1.4 trn monthly instalment tax devolution to states

The monthly instalment for March is much more than the normal monthly devolution of Rs 70,159 crore made for states

Seven mistakes seniors make while planning their taxes and finances

They could invest in SCSS in tranches to optimise Sec 80C benefits and park some money in PMVVY before it closes on Mar 31