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Resolution Plan Approved By CoC Binds All Stakeholders Including Dissenting Financial Creditor: NCLAT

Live Law

The NCLAT New Delhi bench of Justice Ashok Bhushan and Barun Mitra has held that the Resolution Plan which is approved in commercial wisdom of the CoC binds all stakeholders including the dissenting financial creditor. It was also argued that the Appellant being financial creditor having 6.64% voting share had no right or jurisdiction to challenge the decision of the …

Financial Resolution Bank Commercial Wisdom Resolution Plan Plan

1 week, 3 days ago

Income tax news: How the ESOPs are taxed in India?

Live Mint

My employer offered me an ESOP two years ago when I joined the company. The shares concerning ESOP have tax incidence at two stages in India. Cost for the purpose of ESOP share shall be aggregate of the values of perquisite value taken for TDS purpose and amount if any paid by you, Since the shares being acquired by you …

Tax Shares Tds 24 Months Esop

2 weeks, 1 day ago

What are the tax implications of selling property without a PAN?

Live Mint

My sister and I inherited a property from our mother in in 2020. However, if you do not have a PAN, the buyer is obligated to deduct tax at the higher of the prescribed rates – 20% as per Section 206AA of the Income Tax Act, 1961, which is assumed to include both surcharge and education cess. After deducting TDS, …

India Pan Buyer Tds Deduct Tax

3 weeks ago

Loss Of FD Investments Doesn't Qualify As 'Trading Loss' For Deduction From Income U/S 28 Of Income Tax Act: Telangana HC

Live Law

The Telangana High Court has held that the loss of fixed deposit investments by an assessee does not qualify as a 'trading loss' for the purposes of claiming deduction from income under Section 28 of the Income Tax Act, 1961. Assessee claimed the aforesaid amount as deduction on the ground that the same is a trading loss under Section 28 …

Business Loss Income Tax Income Assessee Section 28 Trading Loss

Lower incomes face further cut in the mortgage interest tax rate

Dutch News

The Dutch cabinet is planning to increase the mortgage tax relief rate for people on higher incomes, while cutting it slightly for people earning less than €38,441 a year from next year, the Financieele Dagblad reported on Monday. Mortgage tax relief in the Netherlands has been cut steadily since 2013, after experts criticised its impact on house prices because it …

Netherlands Tax Mortgage Rate Mortgage Tax Relief Lower Income

1 month ago

Dutch government's tax plans will allow higher incomes to deduct more mortgage interest

NL Times

Homeowners earning a middle income or higher will be able to deduct more mortgage interest from their taxes next year, while the deduction for lower-income homeowners will become smaller, NOS reports based on the 2025 tax plan. Next year, this will be half a percentage point higher for homeowners earning higher incomes, while those earning lower incomes will be able …

Dutch Tax Income Mortgage Higher Earning Bracket

1 month ago

EPF has issues. Can you say No to it?

Live Mint

Savings are meaningless if you cannot access them. Most companies deduct 12% of an employee’s basic pay plus dearness allowance and retaining allowance as the monthly EPF contribution. Corporate policy When Thanigai Ravindran’s wife joined a new company as a French translator her EPF contribution dropped fromRs 6,000 to ₹1,800 per month. Some companies allow employees to switch from 12% …

Employees Companies Pay Company Contribution Monthly Account

1 month ago

Unsafe fat bikes smuggled from China through Rotterdam port on large scale: report

NL Times

Tens of thousands of unsafe fat bikes are being smuggled from China to Rotterdam and other European ports, AD reports based on its own research. The newspaper spoke to multiple sellers on Bol.com and Makrtplaats, among others, offering no-name fat bikes at prices as low as 599 euros. Legal manufacturers and e-bike experts are dismayed, warning that these Chinese fat …

China Bikes Bike Port Chinese European Fat

1 month, 1 week ago

Is my employer right to deduct tax on leave encashment after my resignation?

Live Mint

I resigned in August 2024 and received leave encashment as part of my final settlement. While making the payment, the employer deducted tax on the full amount of leave encashment, contending that I had resigned and not retired. Is my employer right to deduct tax on leave encashment, as I understand this is exempt under Section 10? Leave Encashment Tax …

Retirement Tax Employee Leave Leave Encashment Encashment

When Is Action For Imposition Of Penalty 'Initiated' U/S 271C Of Income Tax Act For Failure To Deduct Tax At Source: Delhi HC Explains

Live Law

The Delhi High Court recently explained when an action for imposition of penalty under Section 271C of the Income Tax Act, 1961 can be said to have been “initiated”. At the outset, the High Court noted that when a penalty proceeding can be stated to be initiated is squarely covered in favour of the assessee by Principal Commissioner of Income …

Action Tax Penalty Income Tax Order Income Proceedings

1 month, 2 weeks ago

Haryana CM orders salary deduction of five officials

Hindustan Times

Haryana chief minister Nayab Singh Saini has directed deduction of 15 days’ salary of five municipal officials for their alleged role in delaying the implementation of the Shehri Swamitva Scheme. The officials against whom action has been taken are Gurugram municipal corporation joint commissioner Akhilesh Yadav; Ambala MC joint commissioner Puneet; deputy municipal commissioner Deepak Sura; Sonepat MC deputy municipal …

Haryana Gurugram Commissioner Scheme Municipal Government Schemes

3 months, 1 week ago

Hungary refuses to pay fines for breaking EU asylum rules. Brussels is taking the money anyway

LA Times

Hungarian Prime Minister Viktor Orban talks to reporters at the European House-Ambrosetti economic forum in Cernobbio, Italy, on Sept. 6. The European Union on Wednesday began the process of clawing back hundreds of millions of euros in funds meant to go to Hungary after its anti-migrant government refused to pay a huge fine for breaking the bloc’s asylum rules. In …

Pay Asylum Million Hungary Hungarian Budapest

4 months ago

Wayanad landslides: Row over bank deducting EMI from survivors’ accounts

The Hindu

The Kerala Gramin Bank’s decision to deduct monthly instalment of loans from the accounts of Chooralmala landslide survivors has triggered controversy. Minimol, a private tea estate worker from Punchirimattom, who had taken a loan of ₹50,000 from the Chooralmala branch of the Kerala Gramin Bank to build a house, was hoping that the bank authorities would not deduct the EMI …

Bank Financial Aid Survivors Wayanad Landslides Chooralmala

4 months ago

ITAT Weekly Round-Up: 11 To 17 August 2024

Live Law

ITAT Declines To Stay Cancellation Of Exemption Notification To Legal Initiative For Forest And Environment Trust Case Title: Legal Initiative For Forest And Environment Versus PCIT The Delhi Bench of Income Tax Appellate Tribunal has dismissed the stay application filed by assessee-LIFE Trust against the withdrawal/cancellation of registration for exemption granted under section 12A/12AA/12AB from FY 2013-14 onwards. ITAT Allows …

Ahmedabad Income Tax Title Tribunal Held Bench Versus

5 months ago

Congress created history in crop loan waiver: Komatireddy

Deccan Chronicle

Nalgonda: Minister for roads and buildings Komatireddy Venkat Reddy on Thursday said the state government had created history by waiving Rs 31,000 crore worth of crop loans in a single day. He said farmers of Nalgonda got the highest benefit as Rs 481.63 crore of their crop loans were waived. Bankers should not deduct the from crop loan waiver money …

Farmers Loan Crop Reddy Venkat Reddy

5 months, 3 weeks ago

Income tax rules you should know when buying property from joint owners

Live Mint

I am purchasing a house from joint owners. I know I can deduct 1% TDS on payments made to the resident Indian, but I am confused about the tax to be deducted on payments made to the non-resident joint owner. The provision of tax deduction@ 1% under Section 194-IA for purchasing a property is applicable when the seller is a …

Tax Resident Seller Deduct

5 months, 4 weeks ago

Can homebuyers seek refund of booking amount from a real estate developer in case of job loss?

Hindustan Times

The Maharashtra Real Estate Regulatory Authority has directed the developer of Godrej Meadows project in Pune to partially refund the booking amount paid by two homebuyers after deducting 2% of the total booking amount. MahaRERA has directed the developer of Godrej Meadows project in Pune to partially refund the booking amount paid by two homebuyers after deducting 2% of the …

Homebuyers Order Case Maharera Total Developer Paid

6 months, 2 weeks ago

In Maharashtra, Muslims mobilized specifically to defeat BJP, fatwas were issued

Op India

The results of the current Lok Sabha Elections were wild in the state of Maharashtra with the Muslims extending support to parties other than BJP. Alarm was raised by Dy CM Devendra Fadnavis pic.twitter.com/0V0mQMA51U — Megh Updates 🚨™ June 7, 2024 ‘Fatwas helped Shiv Sena win seats in Mumbai’: Deepak Kesarkar Shiv Sena leader and Maharashtra minister Deepak Kesarkar, a …

Mumbai Pakistan Congress Shiv Sena Lok Sabha Sena Red Flags

6 months, 3 weeks ago

'Transit Rent' Can't Be Considered As 'Revenue Receipt', Not Liable To Be Taxed: Bombay High Court

Live Law

The Bombay High Court has held that 'Transit Rent' is not to be considered a revenue receipt and is not liable to be taxed. As a result, there will be no question of the deduction of TDS from the amount payable by the developer to the tenant.The bench of Justice Rajesh S. Patil has observed that the ordinary meaning of …

Bombay High Court Transit Rent Tds No Question Transit Rent

7 months ago

How Steven Zhang lost control of Inter Milan – and what happens next

New York Times

The day after Inter Milan clinched their 20th league title by defeating their rivals AC Milan in a historic Derby della Madonnina last month, players Hakan Calhanoglu and Marcus Thuram invited club president Steven Zhang to join them for an Instagram Live. In the days leading up to Inter’s second star-clinching game against Milan, Zhang, perhaps emboldened by how well …

Italy Club Shanghai Zhang Value Getty Images Instagram

7 months, 1 week ago

'Deduct their salaries': Sunil Gavaskar not pleased with ECB calling back players midway through IPL 2024

India TV News

England and Wales Cricket Board has asked for their T20 World Cup bound players to return from the Indian Premier League for the home series against Pakistan. Players like Jos Buttler, Phil Salt, Liam Livingstone, Jonny Bairstow, Will Jacks, Sam Curran, Reece Topley are some of the key England players featuring in IPL 2024 but have also been picked for …

Board Players Ipl Player Gavaskar Ecb Sunil Gavaskar

7 months, 1 week ago

Column: Lots of complaining about California’s tax system. Time to fix it

LA Times

Here’s a novel idea: Don’t spend money until you’ve got it. Here’s a more familiar example of the volatility: In the 2022 tax year, during a bear market on Wall Street, the top 1% of California earners paid 38.7% of the state personal income tax. Back to the governor’s partial longtime solution: He wants to hold up some spending until …

Tax Budget Income Capital California Revenue Capital Gains

8 months ago

Tamil Nadu home secretary issues circular to penalise staff failing to vote, withdraws it next day

New Indian Express

CHENNAI: A day after Tamil Nadu home secretary P Amudha issued a circular on Thursday to deduct a day of casual leave or earned leave from their leave account for failing to cast their vote, it was withdrawn after it drew flak from government employees. The home secretary’s circular issued on Thursday stated, “All the second-level officers are instructed to …

Tamil Nadu Cast Vote Venkatesan Circular

8 months, 3 weeks ago

The Kerala-Centre dispute over States’ borrowing powers | Explained

The Hindu

The story so far: The Supreme Court on Monday declined any interim relief to Kerala in its suit seeking that the Union government relax its borrowing restrictions to enable the State to borrow additional funds during the current fiscal year. In November last year, Kerala Chief Secretary V. Venu apprised the Kerala High Court that the State was in a …

Finance India Kerala Financial Constitution Court States

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Search results for deduct

Resolution Plan Approved By CoC Binds All Stakeholders Including Dissenting Financial Creditor: NCLAT

Income tax news: How the ESOPs are taxed in India?

What are the tax implications of selling property without a PAN?

Loss Of FD Investments Doesn't Qualify As 'Trading Loss' For Deduction From Income U/S 28 Of Income Tax Act: Telangana HC

Lower incomes face further cut in the mortgage interest tax rate

Dutch government's tax plans will allow higher incomes to deduct more mortgage interest

EPF has issues. Can you say No to it?

Unsafe fat bikes smuggled from China through Rotterdam port on large scale: report

Is my employer right to deduct tax on leave encashment after my resignation?

When Is Action For Imposition Of Penalty 'Initiated' U/S 271C Of Income Tax Act For Failure To Deduct Tax At Source: Delhi HC Explains

Haryana CM orders salary deduction of five officials

Hungary refuses to pay fines for breaking EU asylum rules. Brussels is taking the money anyway

Wayanad landslides: Row over bank deducting EMI from survivors’ accounts

ITAT Weekly Round-Up: 11 To 17 August 2024

Congress created history in crop loan waiver: Komatireddy

Income tax rules you should know when buying property from joint owners

Can homebuyers seek refund of booking amount from a real estate developer in case of job loss?

In Maharashtra, Muslims mobilized specifically to defeat BJP, fatwas were issued

'Transit Rent' Can't Be Considered As 'Revenue Receipt', Not Liable To Be Taxed: Bombay High Court

How Steven Zhang lost control of Inter Milan – and what happens next

'Deduct their salaries': Sunil Gavaskar not pleased with ECB calling back players midway through IPL 2024

Column: Lots of complaining about California’s tax system. Time to fix it

Tamil Nadu home secretary issues circular to penalise staff failing to vote, withdraws it next day

The Kerala-Centre dispute over States’ borrowing powers | Explained