Income Tax Surcharge
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India Should Consider Lowering TDS Rate on Cryptocurrency Trade to Stem Flight of Capital, Users: Report
India should consider lowering the 1 percent TDS imposed on cryptocurrency transactions, according to a joint report Chase India and Indus Law. The government, from April 1 last year, has brought in a 30 per cent income tax plus surcharge and cess on transfer of virtual digital assets (VDAs), including cryptocurrencies, like Bitcoin, Ethereum, Teth...
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What You Need to Know About Crypto, NFT Laws in India
The Income Tax Department has come out with detailed disclosure requirements for TDS deductions for virtual digital assets, under which date of transfer and mode of payment will have to be specified. The 2022-23 Budget has brought in clarity with regard to levy of income tax on crypto assets. From April 1, a 30 percent I-T plus cess and surcharges,...
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Opinion: Super Rich Tax - A Bad Move Now Being Made Worse
There is, in principle, nothing wrong with richer people paying a bit more in income tax. But when, in her budget speech, Finance Minister Nirmala Sitharaman raised the surcharges on the super-rich, those taxpayers with an annual income of more than Rs 2 crore, it was - like much else with this government - badly thought through.
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Budget 2019: Centre To Earn Rs 25,000 Crore From Customs, Excise Duties Hike
The government will earn a net Rs 25,000 crore from the increase in customs and excise duty on a host of products, including cigarettes, while the surcharge on super-rich would help garner additional income of around Rs 12,000 crore this fiscal on the direct tax side.
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Income Tax Rule: How Marginal Relief Brings Down Your Tax
According to the concept of marginal relief, if the amount payable as surcharge exceeds the income above Rs. 50 lakh or Rs. 1 crore, the surcharge will be applicable at a marginal rate.
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Union Budget 2017: Income Tax Rates Dropped, See Details Here
Finance Minister Arun Jaitley today halved the income tax rate for persons earning between Rs 2.5 lakh and 5 lakh to 5 per cent, from the earlier 10 per cent. He also said that Rs 5,000 rebate in tax that people with an income up to Rs 5 lakh a year get, has been reduced to Rs 2,500 for those who earn up to Rs 3.5 lakh.
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Hillary Clinton To Propose Four Percent Income-Tax 'Surcharge' On Wealthy
US Democratic presidential candidate Hillary Clinton is calling for a 4 per cent "surcharge" income tax on people earning more than $5 million annually, a Clinton aide said on Monday.
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Union Budget 2013: Income tax slabs unchanged, rich to pay more
Union Budget 2013: There are only 42,800 people in India who admit to having a taxable income of over Rs 100 crore a year, Finance Minister P Chidambaram noted today as he imposed a surcharge of 10 per cent on the income of the super-rich.
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India Should Consider Lowering TDS Rate on Cryptocurrency Trade to Stem Flight of Capital, Users: Report
India should consider lowering the 1 percent TDS imposed on cryptocurrency transactions, according to a joint report Chase India and Indus Law. The government, from April 1 last year, has brought in a 30 per cent income tax plus surcharge and cess on transfer of virtual digital assets (VDAs), including cryptocurrencies, like Bitcoin, Ethereum, Teth...
-
What You Need to Know About Crypto, NFT Laws in India
The Income Tax Department has come out with detailed disclosure requirements for TDS deductions for virtual digital assets, under which date of transfer and mode of payment will have to be specified. The 2022-23 Budget has brought in clarity with regard to levy of income tax on crypto assets. From April 1, a 30 percent I-T plus cess and surcharges,...
-
Opinion: Super Rich Tax - A Bad Move Now Being Made Worse
There is, in principle, nothing wrong with richer people paying a bit more in income tax. But when, in her budget speech, Finance Minister Nirmala Sitharaman raised the surcharges on the super-rich, those taxpayers with an annual income of more than Rs 2 crore, it was - like much else with this government - badly thought through.
-
Budget 2019: Centre To Earn Rs 25,000 Crore From Customs, Excise Duties Hike
The government will earn a net Rs 25,000 crore from the increase in customs and excise duty on a host of products, including cigarettes, while the surcharge on super-rich would help garner additional income of around Rs 12,000 crore this fiscal on the direct tax side.
-
Income Tax Rule: How Marginal Relief Brings Down Your Tax
According to the concept of marginal relief, if the amount payable as surcharge exceeds the income above Rs. 50 lakh or Rs. 1 crore, the surcharge will be applicable at a marginal rate.
-
Union Budget 2017: Income Tax Rates Dropped, See Details Here
Finance Minister Arun Jaitley today halved the income tax rate for persons earning between Rs 2.5 lakh and 5 lakh to 5 per cent, from the earlier 10 per cent. He also said that Rs 5,000 rebate in tax that people with an income up to Rs 5 lakh a year get, has been reduced to Rs 2,500 for those who earn up to Rs 3.5 lakh.
-
Hillary Clinton To Propose Four Percent Income-Tax 'Surcharge' On Wealthy
US Democratic presidential candidate Hillary Clinton is calling for a 4 per cent "surcharge" income tax on people earning more than $5 million annually, a Clinton aide said on Monday.
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Union Budget 2013: Income tax slabs unchanged, rich to pay more
Union Budget 2013: There are only 42,800 people in India who admit to having a taxable income of over Rs 100 crore a year, Finance Minister P Chidambaram noted today as he imposed a surcharge of 10 per cent on the income of the super-rich.
