tax

For small traders and businesses looking for ways to save taxes, this is the golden time indeed. India’s Finance Minister, Arun Jaitley has explained two ways using which small traders can save upto 46% tax. Traditionally, these…

When Kerala imposed ban on public drinking of alcohol and restricting alcohol to only five star hotels, a lot of people were unhappy with the decision, but in the end it worked out fine for everyone. The state has now imposed another…

Willful tax defaulters in India may face some heat in the coming days as Income Tax Department has decided to take some aggressive steps against them. To start with, IT Dept. will block their PAN Cards, block their LPG subsidies and…

Campaign against black money is long and full of interesting stories. For instance, in the last 1970s, Indian Govt. withdrew Rs 5000 and Rs 10,000 currency notes to curb circulation of black money as transacting heavier amounts…

After some states in the country introduced the E-commerce entry tax, it was rumoured that Gujarat would implement the tax soon as well. It comes as a shocker that it was indeed true. The Gujarat Government has passed a bill that…

In a first, Flipkart, India’s largest ECommerce site, has taken state of Uttarakhand to Court for taxing customers when they make purchases online. In January of this year, Uttarakhand went anti-digital and announced that any ECommerce…

Ever since Finance Ministry decided to impose tax on provident fund withdrawal, there has been intense pressure on the Government to reconsider the decision. Every employee union across the nation, irrespective of their political…

In the #Budget2016 announcement, FM Arun Jaitley had declared that 60% of funds withdrawn from Employee Provident Fund (EPF) would be now taxed; and this has stirred the hornet’s nest. This has angered 6 crore employees all over the nation,…

I have long wondered why our government doesn’t use some PAN-based information for finding out financial status of individuals. The tool would not only simplify the taxing procedure but would also help in quick tax redressal. As per…

Pranab Mukherjee is done with his job of presenting the Union Budget 2011 in the Lok Sabha. The budget seems to have succeeded in fighting all populist forces – be it fiscal housekeeping, a much-needed push to the reforms initiative or an…