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About 16 results for "dilasha seth"

Sops likely for salaried professionals in Budget
Rediff.com

Sops likely for salaried professionals in Budget

Exemption limits, standard deduction on radar, reveal Dilasha Seth and Indivjal Dhasmana. The tax simplification committee, chaired by Justice R V Easwar, is likely to touch upon restoration of standard deduction, reviewing of exemption limits and medical reimbursements for personal income tax in their report. The 10-member panel is likely to submit its report to the finance minister this week or early next week. The report might also have suggestions on the incorporation of masala bonds in the ... Rediff.com, 2 months ago
Economists paint a grim demonetisation future Rediff.com, 2 months ago
GST delay to cast shadow on Budget Rediff.com, 2 months ago
Rediff.com

Income disclosure schemes 20 years apart yield roughly the same

Adjusted for inflation, the earlier scheme would have collected Rs 25,000 crore. Dilasha Seth/Business Standard reports.Illustration: Uttam Ghosh/Rediff.com Union Finance Minister Arun Jaitley's Income Declaration Scheme (IDS) 2016 will collect a little over Rs 30,000 crore (Rs 300 billion) in taxes, whereas former finance minister P Chidambaram's Voluntary Disclosure of Income Scheme (VDIS) in 1997-1998 garnered around Rs 10,000 crore (Rs 100 billion) in taxes. Adjusted for inflation, the ...
 Rediff.com2 months ago
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Smaller deposits to be probed only if big accounts indicate irregularities

Limited I-T staff may compel them to focus on big fish than small depositors, reports Business Standard's Dilasha Seth and Indivjal Dhasmana. The tax department will go after 'big fish' in probing deposits made in demonetised Rs 500 and Rs 1,000 notes, but also intend to investigate small deposits, including Jan Dhan accounts, if the probe into big tax evaders gives clues for irregularities in these accounts. "If our investigation team cracks down on a person using say 20 accounts to convert ...
 Rediff.com2 months ago
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Will govt change financial year to Jan-Dec?

Whether or not such an overhaul will be carried out depends on the government's comfort level.Arup Roychoudhury and Dilasha Seth report.Illustration: Uttam Ghosh/Rediff.com A government-appointed panel, headed by former chief economic adviser Shankar Acharya, has recommended changing the financial year from the current April to March to the calendar year. But whether or not such an overhaul will be carried out depends on the government's comfort level. No decision has been taken on it yet. The ...
 Rediff.com2 months ago
Rediff.com

Coming soon: The 'Google Tax'

Downloading songs, movies, books? You may have to pay tax on it.Dilasha Seth reports. The government is likely to expand the scope of the equalisation levy, the so-called 'Google tax' to bring more digital transactions into the tax net in the upcoming Budget to curb tax avoidance by multinational firms. Online sales of goods and services; downloading of software, songs, movies and books; and online consumption of news are among the services that the government may consider for the levy.
 Rediff.com2 months ago
Rediff.com

I-T dept wants more sleuths to probe tax frauds

'Investigation directorates have intensified actions in detecting serious irregularities.''They are seriously handicapped because of non-availability of manpower.'Dilasha Seth/Business Standard reports from New Delhi.Illustration: Uttam Ghosh/Rediff.com Facing a 'serious' manpower crunch to investigate fraudulent and 'serious irregularities' on account of demonetisation, Central Board of Direct Taxes (CBDT) Chairman Sushil Chandra has in an internal letter sought to rope in income tax ...
 Rediff.com2 months ago
Rediff.com

GST delay may not impact markets

IMAGE: One reason for going slow is because the GST Bill is still under discussion. Photograph: PTI Photo Although the markets could see a knee-jerk reaction, they rule out a sharp fall.Puneet Wadhwa/Business Standard reports from New Delhi. Even as the central government hurries to get the states on board to meet its deadline for its ambitious Goods and Services Tax (GST) Bill rollout by April 1, 2017, recent developments indicate a possible delay. The deadlock between the Centre and states ...
 Rediff.com2 months ago
Rediff.com

I-T dept to use tech to beat manpower blues

The I-T department will rely on data analytical tools and run models to separate black money holders and genuine taxpayers based on the large data base being shared by banks.Dilasha Seth/Business Standard reports.Illustration: Uttam Ghosh/Rediff.com While a staff crunch might pose a hurdle in the income tax (I-T) department's bid to nab black money holders after demonetisation, technological assistance could help it meet the challenge. With 80% of the banned Rs 500 and Rs 1,000 currency notes ...
 Rediff.com2 months ago
Rediff.com

Black money declaration now slightly higher

It was found the declarants were persons of suspicious nature and very small means, and the declarations could have been misused.Business Standard's Dilasha Seth reports from New Delhi.Illustration: Uttam Ghosh/Rediff.com The final figures for disclosure of previous hidden income or wealth under the Income Declaration Scheme are only slightly higher than the provisional estimates. Two high value declarations of around Rs 2 lakh crore were excluded from the figures declared. These included Rs ...
 Rediff.com2 months ago
Rediff.com

You will need to prove how you got the gold

The onus to explain that the gold jewellery was inherited or bought from known sources of income would be on the owner, reports Dilasha Seth/Business Standard. As rumours did the rounds that the recently passed amendments to the Income Tax Act in the Lok Sabha would result in taxing of inherited gold jewellery and ornaments, the finance ministry on Thursday clarified there would not be any tax on this holding, besides the ones bought from reasonable household savings or agricultural income.
 Rediff.com2 months ago
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