Tag Archives: Taxes

You Can Avoid Paying Taxes on Your New Car, Although It’s Risky Business

From the October 2017 issue A few years ago, at a Kruse auction, I sat beside a bald bidder who’d already lost precious portions of his mind over a 2007 Ford Mustang GT-H, the black-and-gold Hertz clone. “I will get this car,” he assured, and he did, but for a sum greater than the Mustang’s original sticker. I asked about applicable auction ... Read More »

1% Cut in Corporate Taxes to Cost Exchequer Rs 15K crore: Adhia

New Delhi: Finance Ministry today said it refrained from reducing the corporate tax rate by 1 per cent in 2016-17 Budget as it would have resulted in revenue sacrifice of Rs. 15,000 crore and impacted the fiscal consolidation programme. “The Finance Minister had his own limitations in terms of resources… You know how much the bill is going to come ... Read More »

PF Tax: 25-Year-Old May Have To Pay Rs 56 lakh in Taxes on Retirement

Finance Minister Arun Jaitley’s Budget proposal to tax 60 per cent of Employee Provident Fund withdrawals has come in for huge criticism. EPF, a popular investment instrument for millions of salaried employees, has 3.7 crore subscribers. (Read) The proposal to tax EPF withdrawals, according to the tax bracket of employees, could set back employees by lakhs of rupee, according to ... Read More »