How Your Next Vehicle Could Save on Income Taxes

Did you know you could save up to $7,500 on your next vehicle — if that vehicle happens to be an all-electric or plug-in hybrid car? And that doesn’t even count any savings on fuel at the pump by using an electric vehicle! Most business people are aware that they can write off some of the costs of operating a standard gasoline- or diesel-based More...

by Loknath Das | Published 5 months ago
By Loknath Das On Saturday, June 10th, 2017
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Aadhaar Must For Income Tax Return Filing, New PAN From July 1: Taxman

New Delhi: The CBDT on Friday made it clear that Aadhaar will be a “must” for filing of Income Tax Returns or for obtaining a new PAN from July 1. The policy-making body of the Income Tax Department More...

By Loknath Das On Wednesday, June 7th, 2017
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Income Tax department might follow the GST path

India is soon going to follow the one-nation, one-tax principle after the implementation of the goods and services tax (GST) from July 1. However, the same principle might be adopted in a much more broader sense More...

By Loknath Das On Tuesday, June 6th, 2017
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Income tax return: Do super senior citizens have to file returns?

  My father is over 90 years of age and has income from pension, interest on fixed deposits and savings account. His total income is Rs 2 lakh per annum. He has no TDS refund claim. Is he required to file More...

By Loknath Das On Monday, June 5th, 2017
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Income tax return: Do super senior citizens have to file returns?

My father is over 90 years of age and has income from pension, interest on fixed deposits and savings account. His total income is Rs 2 lakh per annum. He has no TDS refund claim. Is he required to file income More...

By Loknath Das On Saturday, June 3rd, 2017
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Tories vow not to increase income tax for UK’s richest

The Conservatives have ruled out raising income taxes on the highest earners – despite having refused to make the same pledge for taxpayers on lower incomes. Theresa May has repeatedly refused to rule out raising More...

By Loknath Das On Wednesday, May 31st, 2017
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Now Link Aadhaar With PAN Using SMS, Says Income Tax Department

New Delhi: The Income Tax Department today urged taxpayers to link their Aadhaar with their PAN, using an SMS-based facility. The department issued advertisements in leading national dailies and described how both More...

By Loknath Das On Monday, May 29th, 2017
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Should agricultural income be taxed?

The recent discussion on taxing farm income is nothing new. This kind of thinking was doing the rounds even in British India, when as early as 1925, a committee was set up to assess the feasibility of taxing agriculture More...

By Loknath Das On Thursday, May 4th, 2017
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Why India should tax agricultural income

In 1925, the Indian taxation enquiry committee noted, “There is no historical or theoretical justification for the continued exemption from the income tax of income derived from agriculture. There are, however, More...

By Loknath Das On Sunday, April 30th, 2017
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High incomes, awful finances People for whom $100,000 isnt enough to live on

Katrina Genefaas, from Rotorua, could teach people who say they’re struggling to get by on $100,000 a thing or two. After she split with her long-time partner, the mental health nurse found herself alone More...