[ad_1] Proceeds from high-premium unit-linked insurance schemes (ULIPs) have been made taxable to create a “level playing field” with mutual funds, official sources said on Monday. The Central Board of Direct Taxes (CBDT), which formulates policy for the Income Tax Department, had notified on January 18 the rules indicating theRead More →

[ad_1] (The Center Square) — As more Americans move to lower-taxed Republican-led states, a new report from the Tax Foundation indicates that tax levels play a direct and indirect role as factors contributing to migration patterns. Taxes “often play an indirect role in contributing to an overall favorable economic environment.Read More →

[ad_1] Nirmala Sitharaman The Ministry of Finance has asked for suggestions on the taxation of industries and commercial organizations for the 2022-2023 budget, which will set the tone for the growth of the Indian economy affected by the COVID-19 pandemic. In a communication to professional and industry associations, the ministryRead More →

[ad_1] Separate accounts will be maintained within the provident funds, including the employee provident fund (EPF), where interest is taxable above a threshold from the current financial year. The 2021-2022 budget announced an income tax on interest accrued on annual provident contributions exceeding Rs 2,50,000 for non-government employees and RsRead More →

[ad_1] NH to challenge taxation of NH teleworkers in US Supreme Court Concord, NH (STL.News) Today, Governor Chris Sununu released the following statement after the Massachusetts Department of Revenue issued and approved a final rule that imposes Massachusetts income tax on residents of New Hampshire who work from home forRead More →

[ad_1] The High Court of Kerala recently ruled that salaries paid to nuns and priests of religious congregations, working as teachers in educational institutions, are subject to withholding tax while dismissing a batch of nearly 50 court cases. A divisional bench of Judge SV Bhatti and Judge Bechu Kurian ThomasRead More →

[ad_1] Home ” General ” Business ” The government presents a bill to cancel the contentious retrospective taxation New Delhi, August 5 (SocialNews.XYZ) The government has initiated a new round of tax law amendments that will override retrospective tax amendment provisions introduced in 2012 that provided for taxing all gainsRead More →