Remember, not all tax-saving allowances are created equal. Some more than others can provide substantial tax benefits, significantly impacting your take-home salary and tax outgo. According to chartered accountant Vijaykumar Puri, partner at VPRP & Co. Llp, the first critical step is understanding your salary structure. “The key is ensuring all allowances are properly structured…
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…
NEW DELHI : Artificial intelligence (AI) threatens to replace many jobs, especially in research and writing. However, the question of how reliable AI chatbots are remains. A recent tax order from the Bengaluru bench of the Income Tax Appellate Tribunal (ITAT) believed to have been based on ChatGPT research, is a case in point. The…
Investing in US stocks allows Indian investors to own a slice of the world’s most influential companies, while global exchange-traded funds (ETFs) provide an avenue to diversify portfolios beyond domestic markets. While India’s mutual fund (MF) industry has hit the Reserve Bank of India’s $7 billion cap for overseas investments, platforms such as Vested Finance,…
The actual flows are contingent on how these elements perform and are thus beyond the government’s control. True, better compliance has been witnessed in the past, thanks to better systems being put in place. But beyond a point, such flows tend to plateau out. Therefore, the government needs to look at new avenues of taxation…
I am a non-resident Indian (NRI)) and have my own business in Dubai. I have invested in shares as well as mutual funds in India. I have received dividend on shares and mutual funds. Can I get any benefit of lower taxation under treaty for dividend income? —Name withheld on request Under the India-UAE Double…
The benchmark Nifty index shot up 1.76% and investors turned richer by â‚ą7 trillion on Friday as institutions scooped up cash shares and derivatives, backed by retail participation through mutual funds. Market veterans were puzzled by the surge, which follows the surprise tax hikes in the Union budget and weak earnings in the banking sector….
Finance Minister Nirmala Sitharaman has defended the recent tax increases, saying that the government does not want more money and rather wants to ensure a uniform treatment of all asset classes. “Taxes have not been increased because I want more money… The decision is based on the idea that every asset class has to be…
