Tag Archives: tax

Budget 2019: Finance minister took the easier route instead of catching those who avoid tax

Union Budget 2019: While the FM has settled for earning `12,000 crore more, slashing rates and the resultant increase in compliance could have generated several times more than this amount. Budget 2019: Given how precarious the government’s finances are—FY20 tax collections need to rise 18.3% versus FY19’s 8.4% if you use the numbers put out by the CGA—it is not ... Read More »

Who can claim tax benefit on interest paid on education loan?

The advantage of an education loan is that if the parent doesn’t have money, the loan can be repaid after the child completes the course and gets a job. Photo: iStockphoto Education costs are spiralling. The fee for a masters or diploma in management from premier institutes can be about ₹ 25 lakh, while many private medical institutes charge about ... Read More »

What to Do If You’re Going to Miss the Tax Deadline

Persuading the IRS to give you more time after the April deadline to file your tax return is fairly easy. But there are several other things you’ll need to do if you’re filing taxes late. What if You Miss the Tax Deadline? How to File Taxes Late Get an extension. Set aside cash for interest. Prepare to pay a penalty of ... Read More »

Income Tax efiling made easier – Steps to follow

Several people fret over income tax filing; they have no clue how to go about it and often find themselves struggling with the process. However, with the Government of India allowing the people to file the returns online, the process has become much simpler and quicker than ever before. If you are filing your returns for the first time, the ... Read More »

GST: New tax regime may hike tuition fees, cost of living for students in Pune

While most experts feel that the rollout of the Goods and Services Tax (GST) will not have any immediate impact on the education sector and keep the household budget for academic costs untouched, educationists beg to differ. They believe that the effects of GST will be felt in more ways than one. Fees for tutorials, competitive exam coaching While school ... Read More »

Car insurance in UK hits record high as tax rate on premiums increases

The average cost of car insurance will hit a record high as a higher rate of tax on premiums comes into effect, pushing up prices even further. According to comparison website comparethemarket.com, the average policy will reach £800 next month, a rise of 14% on a year earlier and £200 more than in June 2015. The rate of insurance premium ... Read More »

Martin Shkreli hit with $4.6M IRS tax lien

ow much would Martin Shkreli pay for the rights to the Beatles’ song “Taxman”? The pharma bad boy Shkreli might find it a bit tougher to afford that old tune nowadays after getting slapped by the IRS with a new lien for $4,628,928 in unpaid taxes. Joshua Roberts | Reuters Martin Shkreli, former CEO of Turing Pharmaceuticals, departs the U.S. ... Read More »