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Taxpayers will have to disclose all bank accounts held by them in the country & instances of foreign travel to I-T deptt while filing their returns.
The I-T Systems Directorate is also in the process of validating net banking identity as the verifier of e-filed I-T returns "very soon."
The repercussions of wrong filing is stiff. A false or wrong declaration in Form 15G attracts penalty under Section 277 of the Income Tax Act.
As the government intensifies fight against black money and adopts global standards, taxpayers will have to begin spring cleaning of their finances.
Few leading mutual fund analysts and wealth managers give their insights on the schemes that investors can buy into to bet on India’s growth story for the next few years.
Cash applications can be made only in physical form at designated investor service centres of the fund houses which are authorised to accept cash applications.
Comparing the NAV of one fund to another — which is a common enough activity among investors and fund salesmen — is worse than useless.
The I-T Systems Directorate is also in the process of validating net banking identity as the verifier of e-filed I-T returns "very soon."
The tax authorities have made several additions to the income tax return forms for the assessment year 2015-16 seeking details about foreign assets.
The move will bring to halt the huge upfront commissions being paid to distributors of close-end schemes as incentive to bring more investments.
Accepting cash or repayment of loans from friends and family in cash for amounts higher than Rs 50,000 and not reporting it is also evasion.
Going with a normal equity or a balanced fund won’t serve the purpose as few of them are willing to take active cash calls.
Accepting cash or repayment of loans from friends and family in cash for amounts higher than Rs 50,000 and not reporting it is also evasion.
Moving ahead with its strategy of 'naming and shaming' large tax defaulters, the I-T Dept came out with a list of 31 defaulters who owe over Rs 1,500 crore to the government.
Most FPIs will approach the DRP within the next 60-days for resolution of the matter; draft provides reasons why MAT is applicable.
It places upon the investor the onus of being a better judge of stocks than the fund manager.
At least six leading mutual fund houses are said to have given lumpsum amounts worth more than Rs 200 crore to these brokers in March.
The growth in asset base comes on the back of BSE Sensex surging around 25 per cent in the past financial year.
Trading platforms -- BSE Star MF and NSE MFSS -- have witnessed an increase in orders at 19,66,901 in 2014-15 from 8,19,388 the preceding year.
Delhi government today passed an amendment to the Value Added Tax (VAT) Act which will allow them to carry forward their credit for successive financial years.
The growth in asset base comes on the back of BSE Sensex surging around 25 per cent in the past financial year.
MFs have been increasing their exposure to banking shares since Jan last year but their investment level in the sector dropped in Sep. 2014.
Finance Minister had came out with a host of proposals last month to rationalise service tax, which is levied at an effective rate of 12.36 per cent.
The problem with taxation of withdrawals under the National Pension System is not that it’s confusing, but that it may not be fair.
Equity-oriented balanced funds, which have seen strong growth on the back of surging markets, are also rewarding their investors.