Taxation

Garment exporter, KPR Mills on Friday became the first company to have withdrawn its buyback proposal due to the 20 per cent tax proposed on buyback obligations in the Finance Bill.   The company had proposed a buyback offer( one of the preferred ways of paying share-holders as...
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The expensive gift that you kept for your overseas cousin or friend may attract tax from this year with the Budget 2019-20 proposing to impose withholding tax all such transfers, plugging an earlier loophole that allowed its tax- free treatment.   The Finance Bill 2019 has imposed tax...
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Contrary to expectations, especially those of middle-class tax payers, Union finance minister Nirmala Sitharaman made no changes in the income tax (I-T) slabs while increasing the taxes for those with taxable income of over Rs2 crore.    Some tinkering with securities...
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Petrol and diesel prices are set to increase from Friday midnight as Finance Minister Nirmala Sitharaman announced an additional special excise duty (SAED) of Re 1 and a road and infrastructure cess of Re 1 per litre on both the transport fuel while presenting the Union Budget...
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In a major relief to trade and businesses, the all-powerful GST Council in its first meeting after the Modi government came back to power extended the cut-off date for filing annual returns for FY18 by two months to August, 2019.   Easing the enrollment process for new firms, the...
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