No pension fund has made investments in bonds rated below AA: Supratim Bandyopadhyay, PFRDA
Most pension fund managers follow their own investment guidelines which are stricter than what PFRDA has laid down, says PFRDA Chairman, Supratim Bandyopadhyay.
View: Tax exemption for infra investments by SWFs and PFs — a compelling case
India sorely needs long-term, patient investment from SWFs and ...
Nirmala Sitharaman launches facility for instant, free PAN using Aadhaar
The facility is a paper-less, free of cost and on a real-time basis....
Exporters likely to be exempted from ‘Tax at Source’
The budget proposal said that a seller of goods has to deduct TCS at the rate of 0.1% before making payments in excess of Rs 50 lakh. In cases where the buyer doesn’t have PAN or Aadhaar — which is the case with exports — the rate will be 1%.
Exempted PF trusts disburse over Rs 481 crore under PM Garib Kalyan Yojana
Under the scheme, notified on March 28, members can avail non- refundable withdrawal to the extent of the basic wages and dearness allowances for three months or up to 75% of the amount standing to the member’s credit in the EPF account, whichever is less, to tide ove the financial crisis emerging out of COVID-19.
Director's salary exempt from GST: Karnataka AAR ruling
The salary of a director in a company is not liable to be taxed under Goods and Services Tax (GST), the Karnataka Authority of Advanced Rulings (AAR) has said.
Beware of income tax refund scams: I-T dept warns taxpayers against fake links
Recently, due to the coronavirus related lockdown, the tax department announced thatit would issue refunds of up to Rs 5 lakh immediately to tide over the financial emergency.
Lower TDS and TCS rates, less PF outgo for 3 months
PF revision will benefit 43 million provident fund subscribers across EPFO and exempted establishments and 650,000 employers. It will not cover public sector enterprises and state public sector undertakings.
EPF contribution lowered to 10% for three months; TDS, TCS rates cut by 25% till March 31, 2021
While reduction in PF rates will give Rs 6,750 crore liquidity relief, the reduction in TDS and TCS rates for non-salaried specified payments and specified receipts will release Rs 50,000 crore liquidity into the system.
The downside of saving consumers from oil price hikes
Ad hoc increase in duties is a problem plaguing the sector. While customs, cess and excise duty hikes are levied by the central government, state governments impose value added tax (VAT). Hiking duty and not allowing OMCs to pass it on to consumers is a bad move.
B2B firms exempted from using only BHIM, RuPay for accepting payments
The relaxation has been issued for B2B companies, “If at least 95% of aggregate of all amounts received during the previous year, including amount received for sales, turnover or gross receipts, are by any mode other than cash,” the Central Board of Direct Taxes clarified on Wednesday.
Donations to Shri Ram Janmabhoomi Teerth Kshetra eligible for exemption from income tax
In a notification issued Friday, the Central Board of Direct Taxes (CBDT) allowed tax exemption to donations under Section 80 G of the Income Tax Act, on the grounds that the structure would be a “place of historic importance and a place of public worship”.
Budget 2020 should re-introduce infra bond for tax break under section 80C: Deloitte
Investment in infrastructure bonds under section 80CCF of the Income Tax Act provided a tax break and a savings avenue to individual taxpayers as well as served as a way to bridge the funding gap in the infrastructure sector.
CBDT likely to soon notify tax compliance relaxations
Finance minister Nirmala Sitharaman had last week announced several relaxations in compliances including under the income tax.
Noida-Delhi border to stay sealed except for exempted services, people
The decision has been taken as the source of infection in 42 per cent of coronavirus cases detected in the district in the last 20 days has been tracked to Delhi, the guidelines said.
Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service