Salem property owners to see lowest property tax boom countywide

The average Marion County property owner pays 3% extra in property taxes this yr, the assessor’s workplace announced Wednesday. Salem citizens in Marion County pays $19.53 in keeping with $1,000 of assessed belongings value, down from $19.87 final yr. Oregon’s constitution caps assessed value increases at 3%. Property taxes are based totally on assessed values […]

Corporate tax cut: Issue of wearing forward losses vexes businesses in crimson

MUMBAI: A dilemma has gripped numerous loss-making companies in capital-extensive sectors along with metal, infrastructure, and engineering — whether or not to opt for lower corporate tax rates and boom profitability, or pay better taxes under modern quotes and carry forward the losses. Many such companies that have made a huge capital expenditure in the […]

Income tax branch starts offevolved e-assessment centre. How faceless evaluation works

NEW DELHI: Making income tax evaluation procedure anonymous and faceless, earnings tax department’s National e-Assessment Centre (NAC) becomes released in New Delhi today. The Central Board of Direct Taxes (CBDT) has issued around a few days in the past directing that during the monetary year 2019-20, all assessment complaints should be performed electronically. It has […]

Income tax dept says check your email or e-submitting account as e-evaluation begins

The earnings tax branch has counseled taxpayers to check their registered e-submitting bills and email ids because the first segment of the e-Assessment Scheme 2019 receives underway. In the primary phase, the profits tax branch has selected 58,322 cases for scrutiny beneath the brand new e-assessment scheme and e-notices were served before the 30th of […]

Income tax branch surveys Zaveri Bazaar bullion traders

MUMBAI: The Income Tax department surveyed the premises of multiple bullion dealers in Zaveri Bazaar for 2 days, said market assets. The motive for the surveys turned into no longer recognized. IT officers have been now not at once available for comment. Zaveri Bazaar is a hub for wholesale and retail gold and jewelry trade. […]

Do senior residents with earnings much less than Rs 5 lakh need to pay tax on FD hobby profits?

I am 70 and my total income from all sources in an economic year is much less than Rs 5 lakh. I earn an interest of Rs 15,000 12 months from an NBFC FD. Do I need to pay profits tax in this interest? Homi Mistry Partner, Deloitte Haskins & Sells replies: As a resident […]

How to do $5 trillion by means of 2024: Next steps after corporate tax rejig

In what is arguably one of the boldest reforms within the ultimate 20 years, finance minister Nirmala Sitharaman has cut the powerful tax price on company income from about 35% to twenty-five.2% for existing domestic organizations and 17% for new production groups installed before October 31, 2023, provided the organizations take no exemptions. For present […]

How to reduce your 2019 tax invoice before it’s too overdue

With 12 months-give up swiftly drawing near, now’s the time to take steps to reduce your 2019 tax invoice, earlier than it’s too past due. This is Part 1 of my brief listing of foolproof 12 months-stop strategies for character taxpayers to consider. Here goes. Game your generous widespread deduction allowance The Tax Cuts and […]

Income Tax dept summons G. Parameshwara for thinking on Tuesday

BENGALURU: The Income Tax Investigation Wing in Bengaluru have summoned Karnataka’s senior Congress leader and previous Deputy CM G Parameshwara for thinking on Tuesday in reference to the huge volumes of undisclosed cash transactions in the scientific colleges controlled via his own family in the clinical admissions two months in the past the officers have […]