The Income Tax Department has provided a new form (ITR-U) to file updated IT returns. Taxpayers can use it to file updated Income Tax Returns for financial years 2019-20 and 2020-21. Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense Ratio Axis Nifty 50 Index Fund +32.80% Invest Now Equity: Large […]
Tax department accuses Volkswagen of playing the victim card in Bombay High Court – CNBC TV18
The tax department has accused Volkswagen of playing the victim card in its ongoing $1.4 billion tax case before the Bombay High Court. The case, which entered its second day of arguments on Thursday, revolves around a significant tax demand of ₹12,000 crore levied against the automaker. Volkswagen has strongly contested the tax notice, arguing that […]
What is property tax? How is it calculated? – CNBC TV18
Property tax is a yearly or semi-annual tax imposed on real estate owners by local authorities. It is an ad-valorem tax, which means that the amount owed is calculated as a percentage of the assessed value of the property. Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense Ratio Axis Nifty […]
Ridham Desai says India’s growth is set to surprise on the upside – CNBC TV18
“I think we are now getting into a phase where growth will surprise to the upside,” says Ridham Desai, Managing Director and Chief Equity Strategist at Morgan Stanley India. He believes India is emerging from a mid-cycle soft patch and is set for a stronger-than-expected recovery, backed by a ‘magic Budget’ and likely monetary policy […]
Budget 2025 proposals: Insurance industry seeks separate tax exemption windows, FDI boost – CNBC TV18
The past few Union Budgets have been pivotal for the insurance industry, particularly due to taxation-related interventions. As the Union Budget 2025 approaches, the insurance sector has several key expectations that could shape its future. One of the long-standing demands from the life insurance sector is a separate tax exemption window outside of Section 80C. […]
Finance Ministry warns taxpayers about fake GST violation notices; How to verify – CNBC TV18
The Finance Ministry has issued a stern warning to taxpayers regarding fraudulent GST violation notices, which are being circulated with fake Document Identification Numbers (DIN) and official logos. The Central Board of Indirect Taxes and Customs (CBIC) confirmed that some fraudsters are sending counterfeit GST summons, which may or may not be linked to ongoing […]
All you need to know about the tax treatment on rental income – CNBC TV18
Rental income from property is a relatively common source of income in India and it falls within the brackets of taxable income. The rental income is considered taxable under the category ‘Income from House Property’. As property owners in India, it is essential to understand how to optimise tax benefits and claim deductions to significantly […]
Understanding gift tax in India: Regulations, exemptions, filing procedures – CNBC TV18
A “gift”, as defined by the Income-tax Act, refers to money or movable/immovable property received by an individual from another person or organisation without any payment. The giver is called the donor, and the receiver is known as the donee. Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense Ratio Axis […]
Exclusive | Union Budget 2025 likely to simplify direct tax laws in phased manner – CNBC TV18
The government is gearing up for a significant overhaul of direct tax laws, according to sources. The upcoming Union Budget 2025 could mark the start of a phased approach to simplifying these laws, aiming to create a more streamlined and taxpayer-friendly system. According to sources, the proposed reforms will focus on simplifying the language of […]
2025 tax season: Key changes to keep in mind while filing returns – CNBC TV18
As the 2025 tax season gets underway, several significant updates have been introduced that tax filers should be aware of. These changes are designed to simplify the tax filing process and provide relief to various income groups while encouraging better financial planning. The new tax regime has brought changes to income tax slabs. The basic […]