World corporate tax rates

World corporate tax rates  In the Union Budget 2016-17, the central government has allowed new companies formed after first March 2016 to be taxed at 25% provided they do not claim any tax benefits. Additionally, small companies with turnover of less than Rs 5 crore would be …

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India: Ombudsman For Income Tax Grievances..!

From non-refund of taxes to the rude behaviour of officials, the income tax tax ombudsman handles a wide range of complaints Your income tax refund for a particular year has been due for a long time now. Perhaps you also applied for a PAN card for your daughter, but it still…

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Plan Investment With Income Tax Benefits In Mind..!

By Mr. Rakesh Nangia, Nangia & Co. Tax planning investments made in a hurry may strain your finances. Let’s discuss some investment options: Section 80C..! The maximum deduction is capped at Rs. 1.5 lac in a particular fiscal. Here are a few tools prescribed under this sec…

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Eight Ways Your Family Can Help You Save Tax, Legally...!

8 Ways Your Family Can Help You Save Income Tax, Legally...! Here are ways in which investing for family can help you save tax Bad news for tax evaders.In another move to curb black money transactions in the country , the government has recently proposed to make `benami' …

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Budget 2015-'16: Service Tax Rate Increased from 12.36% to 14%...1

Budget 2015-'16 Highlights: Service Tax Rate Increased from 12.36% to 14%.. Service Tax Rate Increased  was a big blow for common man. The service tax rate was increased to 14% from earlier rate of 12.36%.  That means whichever services you avail, you will be paying the ad…

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Income Tax Implications of Owning More Than One Home..!

Income Tax Implications of Owning More Than One Home..! by Mr. Homi Mistry, Deloitte Haskins & Sells LLP The Bharatiya Janata Party (BJP) government, in its first full-year Budget (2015-16), had announced houses for all by 2022. The government had also announced a tax-ef…

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Five Common Income Tax Evasion Practices in India..!

March 31 marks the end of the income tax-saving season & the beginning of the income tax-filing season. Everyone will soon get busy collecting proofs of investments, savings (like ELSS, PPF ets ) and expenses (like medical insurance premium, medical bills, LTA receipts e…

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Five Best Way to Save Income Tax at the Last Minute

Income to Taxpayers are in a tearing hurry to make tax-saving investments before 31 March. Ms. Preeti Kulkarni suggests 5 options you would not regret. (1) Invest in ELSS..! Equity-linked savings scheme (ELSS) funds do not require recurring payments.You do not have to pay in …

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