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The provision allows offenders to pay 15% of penalty if they pay tax due within 30 days of the finance bill coming into effect.
Though it is fully taxable, the interest from recurring deposits is exempt from TDS. This only applies to interest from fixed deposits.
Amendments made to Section 194A will mean that interest income above Rs 10,000 for an RD, will attract TDS.
Equity MFs surge ahead of benchmarks  (05 March 11:47 am) 
Diversified equity MFs, which invest across sectors and market capitalisation, have zoomed 68.4% on an average in the past one year.
A total of 44,07,193 non-filers for assessment year 2013-14 who are expected to file their tax returns by March 31.
The mutual fund industry may witness several mergers of schemes in coming weeks after the Budget proposed an exemption from capital gains tax.
A study by ET shows that the tax, as a percentage of income, has steadily risen for almost all taxpayers.
From current financial year, the expenses related to stamp duty and registration charges of the house can also be claimed as a deduction
\"This budget decisively pushes forward the government\'s transformative agenda (Jan Dhan, Swachh Bharat, Make in India and Digital India) by adding housing for all, insurance and pension access.\"
Finance Minister Arun Jaitley offered individual tax payers two options in terms of savings - Employee Provident Fund (NPF) and the New Pension Scheme (NPS).
The documents for 34 New Fund Offers (NFOs) have been submitted with the Securities and Exchange Board of India (Sebi) since the beginning of the year.
Mutual fund (MF) investors have something to cheer from the budget. Scheme mergers will no longer be considered as fresh investments.
The investor gets the benefit of a single view of all MF investments, single payment for multiple transactions, centralized complaint redressal etc.
Senior citizens above 60 years of age would have to pay additional tax of Rs 64,550 a year if their annual income is more than Rs one crore.
As per a new proposal made in the Finance Bill 2015, to come into effect from April 1, exemption would be limited to Rs one lakh for one performance.
As per a new proposal made in the Finance Bill 2015, to come into effect from April 1, exemption would be limited to Rs one lakh for one performance.
Senior citizens above 60 years of age would have to pay additional tax of Rs 64,550 a year if their annual income is more than Rs one crore.
According to the Budget proposals, the service tax exemptions have been withdrawn from chit fund foremen and from the sellers and distributors of lottery tickets.
According to the Budget proposals, the service tax exemptions have been withdrawn from chit fund foremen and from the sellers and distributors of lottery tickets.
National Defence Fund, PM\'s National Relief Fund, Swachh Bharat Kosh, Clean Ganga Fund, National Fund for Control of Drug abuse - 100% exemption without limit.
National Defence Fund, PM\'s National Relief Fund, Swachh Bharat Kosh, Clean Ganga Fund, National Fund for Control of Drug abuse - 100% exemption without limit.
Local ultra-rich have been tentative investors into VC and PE funds, but the latest development could push them more.
Local ultra-rich have been tentative investors into VC and PE funds, but the latest development could push them more.
Effective median rate of central excise duty, levied on goods manufactured in India,be increased from 12.36 to 12.5%.
Effective median rate of central excise duty, levied on goods manufactured in India,be increased from 12.36 to 12.5%.