Do you know how many Indians pay Taxes and how much? You would be surprised with some of the numbers. According to the report released by Indian Finance Ministry, estimated number of taxpayers for financial year 2011-12 stands at just 3.24 Crore people. That means, less than 3 people
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The end of the financial year is upon us and fervent calls to chartered accountants and tax planners are bound to me made. If you want to avoid calling your accountant for knowing a few quick answers, put your Android smartphone to good use and download some of these
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It was an Indian business valued at $11 billion – and a lawsuit that involved Vodafone Group Plc.’s acquisition of 67% stake in Hutchison Essar from Hutchison Telecommunications International Ltd. that took place in Cayman Islands way back in 2007. While the Income Tax department claimed taxes on the
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Its Official – If you are salaried and earn less than Rs. 5 Lakh a year – There is no need for you to file income tax returns for assessment year ending 2012. What his means that salaried persons will not have to file returns for earnings in current
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It’s time for the Union Budget 2011. Undoubtedly, this most awaited annual exercise will bring with it hopes to raise the standard of living of the common people; especially looking at the way the soaring inflation has eroded the value of money. Moreover, most of the debt or fixed-yielding
» continue readingLet me share with you a small personal tryst with investment in Equity-linked Savings Scheme (ELSS) for tax-saving purposes. Since I track stock markets closely, my preference is usually tilted towards direct equity investments rather than going through the mutual fund route. However, in order to stifle my taxable
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Whenever there is crisis, he is there… So goes the cliché in the political circles with respect to the Indian Finance Minister Pranab Mukherjee. The great leader from the UPA government has served terms at different positions in various portfolios ranging from Industrial Development, Shipping and Transport, Revenue and
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The much-awaited Direct Tax Code (DTC) Bill was approved couple of days back and few more clarifications have come out – some positive, some negative. In fact, there is difference of opinion among various analysts. Some say that the new DTC Bill is nothing but old wine in a
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Finally, India is warming up to broadest tax reforms in the form of Direct Tax Code (DTC) and Goods and Services Tax (GST) . The former is centered around expectations to minimize tax exemptions, but widen tax slab on personal finances; and the latter revolves around evolving an efficient
» continue readingLast weeks biggest news undoubtedly was the launch of low-cost $35 tablet by the Indian Government for Educational purposes. Trak.in saw huge surge of traffic as we managed to bring out this news before anyone else and also procured some exclusive pictures, which were used by many popular blogs
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