Tuesday 11th December 2018,
Radio Metta

Tax

Listed cos account for less than one-third of corporate tax in FY18: Report

Listed cos account for less than one-third of corporate tax in FY18: Report

Listed companies accounted for a little less than a third of the corporate tax in FY18, down from nearly 40 percent in FY17 and 49 percent a decade ago, Business Standard reported. India’s top companies listed in BSE500, BSE Mid-cap or BSE Small-cap index paid Rs 1.88 lakh crore in direct taxes in FY18, against total [...]

December 4, 2018 Loknath Das Business Comments Off on Listed cos account for less than one-third of corporate tax in FY18: Report

Income tax scrutiny to remain limited despite surge in returns filed

Income tax scrutiny to remain limited despite surge in returns filed

The income tax department will maintain the number of tax returns chosen for scrutiny at the current level of less than 1% of all returns in spite of a surge in individual tax filings to keep the process non-intrusive and tax-payer friendly. Gentle persuasion through text messages, emails and advertisements will remain the department’s main [...]

August 21, 2017 Loknath Das Business Comments Off on Income tax scrutiny to remain limited despite surge in returns filed

FSSAI Seeks Higher Tax on Junk Food and Sweetened Drinks

FSSAI Seeks Higher Tax on Junk Food and Sweetened Drinks

Love munching on junk? You may now have to pay a higher price for it as the Food Safety and Standards Authority of India (FSSAI) has recommended additional tax on processed food and sugar-sweetened beverages. It has also called for a blanket ban on advertising of junk foods and beverages on children’s channels and content [...]

May 9, 2017 Loknath Das Health Comments Off on FSSAI Seeks Higher Tax on Junk Food and Sweetened Drinks

White House Floats 20 Percent Tax on Mexican Imports to Pay for Border Wall

White House Floats 20 Percent Tax on Mexican Imports to Pay for Border Wall

President Donald Trump has not formally proposed a 20 percent tax on Mexican imports to pay for his controversial border wall and is instead considering it among a series of options, White House spokesman Sean Spicer said Thursday. “The goal today is not to be prescriptive. It’s to basically say: Hey, here is a way [...]

January 27, 2017 Saheli News Comments Off on White House Floats 20 Percent Tax on Mexican Imports to Pay for Border Wall

Mexico wall: Trump condemned over imports tax proposal

Mexico wall: Trump condemned over imports tax proposal

Mexico has condemned a US suggestion that it may impose a 20% tax on Mexican imports to pay for President Donald Trump’s planned border wall. Foreign Minister Luis Videgaray said such a tax would make Mexican imports more expensive for US consumers and they would end up paying for the wall. The Mexican president earlier [...]

January 27, 2017 Saheli News Comments Off on Mexico wall: Trump condemned over imports tax proposal

Apple to appeal EU tax ruling this week, says it was a ‘convenient target’

Apple to appeal EU tax ruling this week, says it was a ‘convenient target’

Apple (AAPL.O) will launch a legal challenge this week to a record $14 billion EU tax demand, arguing that EU regulators ignored tax experts and corporate law and deliberately picked a method to maximize the penalty, senior executives said. Apple’s combative stand underlines its anger with the European Commission, which said on Aug. 30 the [...]

December 19, 2016 Saheli Business Comments Off on Apple to appeal EU tax ruling this week, says it was a ‘convenient target’

Real estate shouldn’t be treated as cash cow; govt needs to overhaul tax structure to curb black money

Real estate shouldn’t be treated as cash cow; govt needs to overhaul tax structure to curb black money

There are several reasons why black money exists within real estate, and some of these are natural consequences of legacy structural issues. The most complex issue is that of tax. Taxation in real estate is considerably regressive. The corrupting areas in real estate – land transactions, for the most part, followed by permissions, followed by [...]

December 2, 2016 Saheli Real Estate Comments Off on Real estate shouldn’t be treated as cash cow; govt needs to overhaul tax structure to curb black money

Demonetisation: Unaccounted deposits to attract 50% tax

Demonetisation: Unaccounted deposits to attract 50% tax

Those who deposited their black money in banks, disclosing it to be untaxed wealth, since the governmentannounced demonetisation will now have to pay income tax at 50% and a quarter of the portion of the unaccounted income would remain with the government for four years, as per amendments planned to the Income Tax Act by [...]

November 25, 2016 Saheli Business Comments Off on Demonetisation: Unaccounted deposits to attract 50% tax

Firms giving advice on aggressive tax avoidance could face large fines

Firms giving advice on aggressive tax avoidance could face large fines

Accountants, lawyers and consultants whose multibillion pound industry provides advice on how to aggressively avoid tax could face large financial penalties under government proposals. Plans set out in a consultation document released on Wednesday will suggest that tax advisers whose schemes are defeated in the courts might pay a fine of up to 100% of [...]

August 17, 2016 Saheli Business Comments Off on Firms giving advice on aggressive tax avoidance could face large fines

Foreigners to pay new B.C. property transfer tax: The impact of Bill 28 on foreign buyers of real estate

Foreigners to pay new B.C. property transfer tax: The impact of Bill 28 on foreign buyers of real estate

During the past several years, public concern has increased in the Greater Vancouver Regional District (the “GVRD”) over the steep rise in home prices. For many residents of the GVRD, owning a home has become beyond their reach. The affordability and availability of rental units is also becoming increasingly problematic in the GVRD. The situation [...]

July 29, 2016 Saheli Real Estate Comments Off on Foreigners to pay new B.C. property transfer tax: The impact of Bill 28 on foreign buyers of real estate

County Supervisor Moves to Spike Her Own Weed Tax Proposal

County Supervisor Moves to Spike Her Own Weed Tax Proposal

A plan to tax recreational marijuana locally, should it be legalized by California voters in November, is now being taken off the shelf. L.A. County Supervisor Sheila Kuehl, who proposed the 10 percent tax on the gross receipts of pot businesses, is now asking that her fellow leaders nix the idea. Two weeks ago the Board of Supervisors [...]

July 26, 2016 Saheli Business Comments Off on County Supervisor Moves to Spike Her Own Weed Tax Proposal

CRA leak about crackdown on B.C. real estate tax cheats heats debate

CRA leak about crackdown on B.C. real estate tax cheats heats debate

A federal crackdown on tax cheats in Vancouver’s sizzling housing market — which is acting like a flame to speculators, real estate predators and foreign cash flow — has critics calling on B.C. to demand Ottawa do more to help combat the “out-of-control” real estate market. “It’s not clearcut to say that everybody involved in this is breaking [...]

July 25, 2016 Saheli Real Estate Comments Off on CRA leak about crackdown on B.C. real estate tax cheats heats debate