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Tag Archives: Tax

Tax cuts should boost Indian real estate demand, but many issues linger

A tax cut by India to help the country’s troubled housing sector should boost home sales, but by itself will not be enough to put cash-short developers on more solid ground, say industry executives. On February 25, a government body said the sales-tax on under-construction residential houses in April will drop to 5 percent from 12 percent, while that on ... Read More »

Who can claim tax benefit on interest paid on education loan?

The advantage of an education loan is that if the parent doesn’t have money, the loan can be repaid after the child completes the course and gets a job. Photo: iStockphoto Education costs are spiralling. The fee for a masters or diploma in management from premier institutes can be about ₹ 25 lakh, while many private medical institutes charge about ... Read More »

Apple Said to Seek Tax Breaks for Its iPhone Suppliers in India

HIGHLIGHTS Government officials say meeting this request would require a new policy Apple submitted a list of prerequisites to make iPhones from scratch It began assembling the iPhone SE in Bengaluru in May Apple has asked the Indian government to extend tax breaks to its suppliers if India seeks to become a manufacturing hub for iPhones and its components. Government ... Read More »

Digital tax among finance bill measures shelved

More than half of the finance bill has been put on hold until after the general election to allow more debate on dozens of controversial measures, including plans to force landlords and small businesses to keep digital records. High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the ... Read More »

Internet Sales Tax Issue Still Lives Despite Activist Claims

The so-called Internet Sales Tax isn’t dead, despite what you may have heard. Here’s what happened: Last week, a millennial advocacy group called Generation Opportunity planned a so-called “Facebook bomb” of Rep. Bob Goodlatte (R-Va.). Rep. Goodlatte happens to be the chairman of the House Judiciary Committee, which is considering the Internet Sales Tax (known officially as the Marketplace Fairness ... Read More »

Indiabulls Group Shares Fall On Reports Of Income Tax Raid

Shares of Indiabulls Group companies slumped on Wednesday following media reports about country-wide income tax raids on their offices. Indiabulls Group has interests in real estate development, financial services and lending. DNA newspaper, citing sources, said that raids are being conducted at Mumbai and Delhi offices of Indiabulls Housing Finance, Indiabulls Ventures and Indiabulls Real Estate. Indiabulls Housing Finance is ... Read More »

sold A property? This Small Mistake should Serve You A Tax notice

if you have offered a property well worth Rs 50 lakh or more, in keeping with income tax guidelinesyou’re at risk of deduct a tax at supply, or TDS, on the price of one per cent from the price to the seller. It must be deducted on the sale price of the property. The purchaser has to then deposit this ... Read More »

comfort For shoppers Of underneath-production residences, court docket Says No service Tax

The Delhi excessive court docket has dominated that no carrier tax can be levied in respect of the agreements entered into among customers and developers for residences in an below–constructionbuilding in a housing project. A bench of Justices S Muralidhar and Vibhu Bakhru but stated that provider tax may be levied on quantitycharged through the developers for preferential place of ... Read More »

Facebook Set to Pay More British Tax After Criticism

Social media giant Facebook, which has been under fire in Britain for its tax arrangements, says it will stop routing its British sales through Ireland – a practice that had kept its UK tax bill extremely low. Facebook, Amazon and other multinationals have been criticized for using complex tax arrangements to drastically reduce their bills. Facebook said in a statement ... Read More »