Even though the category is the second largest among the alternate investment fund (AIF) categories, with âš1.29 trillion worth of investor funds raised so far, the tax rules are not clear. âUnlike other investment products, which clearly fall under a specified tax regime, the category III AIF does not have a well-defined tax framework yet….
Do you regularly invest in stocks and have booked capital gains by selling some shares recently? In case you are not aware, these gains can be set off against the losses you may have incurred via another stock. This process of adjusting the loss against the gain is known as âtax loss harvestingâ. Let us…
I have worked outside India for 12 years but I will be relocating back to India in April for a better employment opportunity at an MNC. I have one residential property in India from 2010 which I will sell and instead purchase a bigger one after I return. Approximately how much tax will be there…
My wife’s PPF will mature in April. She wants to transfer âš23 lakh to my senior citizen savings account and balance âš7 lakh to our daughter. What will be the tax position implications for all of us? As from April, interest will be earned in my name. I should and will be liable to pay…
An image of a young entrepreneur, Mr Chand, appears in a video. He looks confused as he wants to know âHow to deduct and pay TDSâ. A veteran chartered accountant hand-holds him through the process in a five-minute video. Chand is beaming at the end of it. âRunning a business without the basics of accounts, is akin…
Amid expectations the upcoming budget will address the issue, experts suggest steps such as reintroducing the faceless regime with personal hearings to handle complex cases, ramping up staffing, alternative dispute resolution mechanisms and mandating a one-year deadline to dispose of appeals. As per the Central Action Plan data, about 550,000 appeals were pending for disposal…
Inspired by developed nations, this progressive tax system is designed to promote fairness by imposing incrementally higher tax rates on higher income brackets. For instance, an individual earning âš5,00,000 pays tax at 5%, while someone with an income of âš7,00,000 is taxed 5% on the first âš5,00,000 and 20% on the additional âš2,00,000. This ensures…
The trouble with taxation is not its inevitability, nor its comparison for that reason with mortality, but its susceptibility to being viewed through lenses tinted by the viewerâs own tax liability. Evidence of this rises and falls in waves, peaking around budget time. For a steady view of the broad idea, one must turn to…
Once upon a time, only story- tellers took it upon themselves to challenge Mark Twainâs quip that death and taxes were the two certainties of life. They came up with zombies, neither dead nor alive. Policymakers might be relatively new to the task, but did not take long to sap the certainty of taxation. Among…
Taxation should never be like reading tea leaves. But the storm in a teacup over a goods and services tax (GST) demand of about âš32,400 crore made of Infosys (now being relooked) suggests a system full of riddles. As reported, services were availed by Infosys from its overseas branches. By one interpretation of Indiaâs GST…
