Wealth Tax: Latest News and Updates, Top Stories, Videos, Photos About Wealth Tax

Direct Tax Collection Grew By 18.2% In April-December

During April-December of the current financial year 2017-18, direct tax collection by the government grew by 18.2% at Rs. 6.56 lakh crore. The finance ministry in a statement said that the provisional numbers point at an increase in direct tax ...

How Is Wealth Tax And Capital Gains Tax Payable On Gold?

We buy gold and it keep it for decades. In fact, gold generates so much wealth over a period of time, that we may have to pay wealth tax on gold. Apart from this there is the usual capital gains tax ...

No Wealth Tax With Effect From Assessment Year 2016-17

Good News for taxpayers. From assessment year 2016-17 onwards there is no need to file a wealth tax return. Every Individual, Hindu Undivided Family and Company whose net wealth exceeds the maximum amount which is not chargeable to wealth tax in ...

How Much Wealth Tax Individuals Have To Pay On Gold and Gold Jewellery in India?

Not many people understand the implications of not declaring wealth and paying proper Wealth tax on the same. If personal wealth like gold, jewellery, paintings, land etc., exceed a sum of Rs 30 lakhs, one is liable to pay Wealth ...

Can NRIs invest in agricultural land, plantation or farm house in India?

Non Resident Indians (NRIs) are not allowed to invest in any agricultural land in India according to Foreign Exchange Management Act (FEMA). NRIs can neither transfer nor sell agricultural properties in India. An NRI can acquire any immovable property like ...

6 ways to manage your inherited wealth In India

Fortunately, India does not have tax on inherited wealth or on inherited estate, which means you can inherit large amounts without worrying on tax liabilities like prevailing in the West. One has to be astute in managing and enhancing inherited wealth. ...

FM to meet top brass of I-T, CBDT

Finance Minister Arun Jaitely will meet the top brass of the Income Tax department and Central Board of Direct Taxes later this month in the national capital. Jaitely will have his first full-fledged interaction with the Chief Commissioners and Directors ...

Can proceeds of foreign currency notes or travelers cheques be credited to NRE accounts?

You can credit the proceeds of foreign currency and travelers cheques brought from abroad during your visit to India to your NRE account. But for that, you yourself have to tender the proceeds in person. You have to declare the ...

Tax-implications on buying a new home in India

With a new home purchase you enhance your asset portfolio and accordingly as on other assets or investment bets, tax implication on property purchase follows. It is to be made clear that one of the property needs to be classified by ...

Assets on which NRIs are not liable to pay wealth tax in India

With respect to the assets held in India, non-resident Indians or NRIs who are deemed as non-resident citizens as per the tax law in India (depending on the number of days they have resided in the country in a given financial ...

A few tips to save on wealth tax

If you think you can chill, after paying your income tax every year, you are wrong. If you have select assets that are valued in excess of Rs 30 lakhs, you are liable to pay a Wealth Tax of 1 per ...

What is Inheritance Tax in India?

The government of India is looking at the possibility of levying tax on inheritance, as in countries like the US, where an inheritance tax is applicable. Different countries have different tax rates ranging from 10-50%. Inheritance tax is a tax ...

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