Wealth Tax

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Wealth Tax - Total results - 27
Govt brushes off officers' proposal for wealth, coronavirus tax on super rich; terms IRS report 'irresponsible'
Business

Govt brushes off officers' proposal for wealth, coronavirus tax on super rich; terms IRS report 'irresponsible'

The suggestions are part of a paper titled 'Force', which stands for 'Fiscal Options & Response to the COVID-19 Epidemic', submitted by the Indian Revenue Service (IRS) Association to CBDT (Central Board of Direct Taxes) Chairman P C Mody,

Wealth tax, STT, CTT disputes kept out of Vivad Se Vishwas amnesty scheme; govt issues detailed FAQ
Business

Wealth tax, STT, CTT disputes kept out of Vivad Se Vishwas amnesty scheme; govt issues detailed FAQ

Disputes relating to wealth, securities transaction, commodity transaction taxes and equalisation levy will not be covered under 'Vivad Se Vishwas' amnesty scheme

Nobel laureates Abhijit Banerjee, wife Esther Duflo say it is time to expand tax base; advocate introduction of wealth tax in India
Business

Nobel laureates Abhijit Banerjee, wife Esther Duflo say it is time to expand tax base; advocate introduction of wealth tax in India

Banerjee, who is an alumnus of the University of Kolkata, Jawaharlal Nehru University (JNU) and Harvard, said that wealth tax is a very logical tax for India to impose.

RBI savings bonds: All you need know about eligibility, issue price, limit of investment, tax rules, repayment
Business

RBI savings bonds: All you need know about eligibility, issue price, limit of investment, tax rules, repayment

On 10 January 2018, the Government of India announced the launch 7.75 percent Savings (Taxable) Bonds, 2018 to enable resident citizens/HUF to invest in a taxable bond, without any monetary ceiling.

Union Budget 2019: From 1973 ‘Black Budget’ to 1997 “Dream Budget’, a look back at key Budgets in last 7 decades
Business

Union Budget 2019: From 1973 ‘Black Budget’ to 1997 “Dream Budget’, a look back at key Budgets in last 7 decades

The Budget is remembered for the introduction of Wealth Tax, which remained in some form or the other for the next six decades.

Budget 2019: Six ways new Finance Minister Nirmala Sitharaman can overhaul India's tricky direct tax system
Business

Budget 2019: Six ways new Finance Minister Nirmala Sitharaman can overhaul India's tricky direct tax system

With central excise and local sales tax accounting for roughly 50 percent of the petrol bunk prices, its migration to the GST regime brooks no delay

Narendra Modi govt should spare a thought for salaried class; jump from 5% to 20% tax is grossest injustice to middle income group
Business

Narendra Modi govt should spare a thought for salaried class; jump from 5% to 20% tax is grossest injustice to middle income group

Apart from being unjust to the middle class, it is the steep rate of tax that tantalises people to split their income

Narendra Modi govt mulling revival of estate duty, BCTT: Banking transactions should be encouraged with incentives
Business

Narendra Modi govt mulling revival of estate duty, BCTT: Banking transactions should be encouraged with incentives

Banking cash transactions should be encouraged and correspondingly cash transactions discouraged through incentives for the former and not through tax on the latter.

Labour Day 2019: Not just vanishing private investments, high cost of labour too is killing India's job market
Business

Labour Day 2019: Not just vanishing private investments, high cost of labour too is killing India's job market

There is no major mention of labour reforms in the BJP manifesto, even the Congress manifesto which speaks GST reforms and job creation has paid no significant attention to labour law reforms

Rakesh Jhunjhunwala rues the poor haven't gained from four decades of bull run but warns against wealth tax
Business

Rakesh Jhunjhunwala rues the poor haven't gained from four decades of bull run but warns against wealth tax

In a departure from his earlier views, Rakesh Jhunjhunwala said the ruling BJP will not get a clear majority in the ongoing polls

Budget 2019: Govt should raise tax on individuals earning above Rs 50 lakh to 40%; impose levy on super rich to fund welfare schemes
Business

Budget 2019: Govt should raise tax on individuals earning above Rs 50 lakh to 40%; impose levy on super rich to fund welfare schemes

The interim budget 2019 to be presented on 1 February 2019 by Finance Minister Arun Jaitley can correct this skew with some path-breaking reforms that might appear to be just reversal of the past policies.

Five things Narendra Modi govt must do on economic front in the run-up to general elections
Business

Five things Narendra Modi govt must do on economic front in the run-up to general elections

It is important for the Narendra Modi government to leave a imprint in the minds of the people with altruistic measures benefitting the entire nation

Demonetisation: Narendra Modi govt's moves to curb black money reaps benefits with increased tax collection
Business

Demonetisation: Narendra Modi govt's moves to curb black money reaps benefits with increased tax collection

The Narendra Modi government has done remarkably well on the taxation front and its subset black money.

Budget 2018: Bringing back wealth and inheritance tax will pay rich political dividends
Business

Budget 2018: Bringing back wealth and inheritance tax will pay rich political dividends

Reintroduction of estate duty and wealth tax would go some way in disabusing the notion that Modi’s is a suit-boot ki sarkar, an allegation that often resonates with the poorer segments of the electorate

Budget 2018: Trade unions urge Centre to focus on employment generation
Business

Budget 2018: Trade unions urge Centre to focus on employment generation

Trade Unions want the government to allocate more funds in the Union Budget 2018 for employment generation and claimed that opening up the retail market to foreign players would lead to further loss of jobs

Direct tax collections rise 18.2% to Rs 6.56 lakh crore during April-December of current fiscal
Business

Direct tax collections rise 18.2% to Rs 6.56 lakh crore during April-December of current fiscal

Direct tax collections soared 18.2 percent during the first nine months of current fiscal at Rs 6.56 lakh crore, the finance ministry said

Gold clarification: Here are seven ways to prove your jewellery is inherited
Business

Gold clarification: Here are seven ways to prove your jewellery is inherited

Gold is considered and has proven to be a first asset class of the poorest too in the country and as a commodity that is widely distributed.

Budget 2016: Govt raises surcharge on income of super-rich to 15%
Business

Budget 2016: Govt raises surcharge on income of super-rich to 15%

In the last Budget, Jaitley had abolished the wealth tax and replaced it with an additional surcharge of 2 percent on the super-rich with a taxable income of over Rs 1 crore.

Why the gold scheme runs the risk of misuse by fake religious trusts
Business

Why the gold scheme runs the risk of misuse by fake religious trusts

The tax administration would have to gird its loins to deal with the mushrooming applications for the status of religious trusts.