India may not levy an “exit tax” like the United States but it’s slowly opening the door to what Nilesh Shah calls “seasonal non-residency,” a growing tax arbitrage that could soon become a flood. Reacting to a Mumbai ITAT ruling that exempted ₹1.35 crore in capital gains for a Singapore-based investor under the India-Singapore tax … Read more
On February 1, 2025, in her 74-minute Union Budget speech, Finance Minister Nirmala Sitharaman said there will be no tax on income up to ₹12,00,000 per annum, under the New Tax Regime (NTR). Factoring in Standard Deduction of ₹75,000, this limit would be extended to ₹12,75,000 per annum for salaried taxpayers. On top of it, … Read more
A ₹4,000 IPL ticket buys more than a seat and stadium buzz. It quietly hands you a crash course in how everyday purchases can carry hidden layers of taxation. What looks like a single charge is actually two taxes stacked—one on top of the other. And it’s all perfectly legal. You came for the match. … Read more
You pay your rent diligently each month, file your income tax returns on time, and even claim your House Rent Allowance (HRA). But suddenly, an unexpected Income Tax Notice arrives, questioning your rent payments and demanding answers. The trigger? A little-known TDS obligation tied directly to monthly rents above ₹50,000, which many tenants overlook, leaving … Read more
Property owners in Bengaluru who fail to clear tax dues for two consecutive years will now face 100% penalty (equal to the unpaid amount), along with an annual interest of 9%. The move, expected to impact around two lakh habitual defaulters, is part of a stricter enforcement drive by the city’s civic body. The penalty … Read more
Representational image of a Volkswagen car | Photo Credit: Reuters Indian tax authorities have singled out Volkswagen as the only automaker to wrongly classify its car imports for 12 years to evade $1.4 billion in taxes, even as rival Kia changed its practice after being pulled up, court papers show. Volkswagen is a tiny player … Read more
A view of the Greater Hyderabad Municipal Corporation head office in Hyderabad. File | Photo Credit: NAGARA GOPAL The Greater Hyderabad Municipal Corporation will conduct ‘Property Tax Parishkaram’ every Saturday between February 22 and March 29 at all its circle offices, in order to resolve long-pending property tax issues. The grievance redressal programme, to be … Read more
“I think as an investor in India you have slightly better advantage for looking at incumbents and the reason is simple because we do not have the entire value chain of products that go into an EV that are coming from India,” says Raunak Onkar, PPFAS MF. It does not matter whether EV or ICE, … Read more
New Delhi, Feb 11 (ANI): Proceedings of the Lok Sabha underway during the Budget Session of Parliament, in New Delhi on Tuesday. (ANI Photo/Sansad TV) | Photo Credit: ANI The government is all set to introduce a new Bill to reform the income tax laws on Thursday (February 13, 2025), the last day of the … Read more
Representative image | Photo Credit: Getty Images Tax breaks on electric vehicles and subsidies on renewable energy can motivate people to switch to low-carbon lifestyles, the pre-budget survey 2024-25 said on Friday (January 31, 2025). There are several effective mechanisms to promote low-carbon lifestyles and advance sustainable development with the Emissions Gap Report 2020 from … Read more