“The government can be a little more generous in increasing the slab rates and making sure that the starting base on which personal taxes are paid goes higher than what it is now,” says Gokul Chaudhri, President (Tax), Deloitte India.I am going to first start with where do we stand in terms of the tax … Read more
“To me, in terms of the tax rates on cap gains, in fact, if you go back in a year or two, it was expected that they will bring in rationalisation. To be honest, I was just checking in other countries also, you do not have so many multiple rates across that,” says Hemal Zobalia, … Read more
Form 26AS is the annual tax statement that provides taxpayers access to the tax deduction/tax collection details and income. It contains comprehensive information related to salary income, business and professional receipts, interest income earned on bank deposits, etc along with the respective tax deduction/collection details. These details are generated based on returns of tax deductions/collected … Read more
New Delhi: The government is considering various strategies to ensure a nationwide rollout of the four labour codes even though some states and Union territories are yet to come out with draft rules under one or more of these codes.The ministry of labour and employment is considering several options including a gradual repeal of the … Read more
It was the end of the month. X (name withheld on request) received that all-important notification on his phone informing him that his salary had been credited. He immediately opened the banking app on his phone to transfer funds to various accounts to meet daily expenses, set aside savings and investments, etc. He also transferred … Read more
Mumbai: Indian banks have scored above the global average in the Digital Banking Maturity survey by consultants Deloitte but have scope to improve to match what it calls the global champions, which are ahead in providing non-financial services such as healthcare. But Indian banks were ahead of global peers on user experience and they could … Read more
Goods and services tax (GST) revenue rose 12% in June to `1.61 lakh crore from the year earlier, maintaining a robust pace, showed data released on Saturday, the sixth anniversary of the single tax that replaced multiple indirect levies in 2017. Bolstering the theme, automobile companies reported a sixth straight month of 300,000-plus sales in … Read more
The Economic Survey 2023 shows that agribusiness continues to show strong potential for growth and enhancement of farmer livelihood, said analysts and corporates. They also added there is a need to give a fresh fillip to the development of storage and agri warehousing facilities which so far is largely fragmented with the majority of warehouses … Read more
The slowdown seen in India’s GDP growth to a four-quarter low of 4.1 per cent in January-March period of 2021-22 was mainly on account of impact of the third Covid wave and high commodity prices, opined experts. Indian economy grew at its slowest pace in a year during January-March, pulling down the Gross Domestic Product … Read more
The Employees’ Provident Fund Organisation (EPFO) hasn’t yet been able to split subscriber accounts into two for members who contributed more than ₹2.5 lakh last fiscal, which may create tax complications and filing issues, experts said. The EPFO is likely to split accounts only at the time of crediting the interest for FY22, which generally … Read more