Tag Archive
TAX PLANNING: AN ESSENTIAL ELEMENT OF FINANCIAL PLANNING
Financial planning is considered to be most essential element of life. It has been rightly said that ‘Future is Uncertain’. Financial planning plays an important role in overcoming your financial uncertainties. Tax Planning is considered to be an essential part of Financial Planning.
A survey conducted by Rights Horizon among IT/ITES employees with the age group [...]
INDIAN MARKET RATES FOR GOLD & SILVER- I
Given below are the gold & silver rates of 10 years from 1956- 1965 required for valuation purposes and calculating tax. This is contributed by CA Final Student Arti Patrikar.
Valuation Date
standard GOLD 24 carats
SILVER 9960 touch
Rate
Per
Rate
Per
02.11.56
106.13
Tola
173.88
100 Tolas
31.12.56
104.44
“
173.69
“
31.03.57
105.69
“
179.88
“
23.10.57
107.59
“
181.75
“
31.12.57
107.56
“
186.38
“
31.03.58
111.13
“
195.75
“
12.11.58
111.56
“
187.00
“
31.12.58
114.53
“
192.56
“
31.03.59
119.53
“
199.94
“
31.10.59
124.00
“
209.75
“
31.12.59
125.44
“
210.25
“
31.03.60
130.34
“
216.56
“
20.10.60
113.65
10 Grams
193.10
1 Kg
31.12.60
114.05
“
194.90
“
31.03.61
119.35
“
202.10
“
08.11.61
124.25
“
207.15
“
31.12.61
119.50
“
211.70
“
31.03.62
119.75
“
219.55
“
28.10.62
117.10
“
223.20
“
31.12.62
104.75
“
209.30
“
31.03.63
166.29
“
238.00
“
17.10.63
102.85
“
238.00
“
31.12.63
102.85
“
250.50
“
31.03.64
108.43
“
260.00
“
04.11.64
114.86
“
259.50
“
31.12.64
119.57
“
267.50
“
31.03.65
123.00
“
280.50
“
GULF COUNTRIES TO LEVY INCOME TAX & VAT
Gulf countries are one of the largest attractions for foreign investors and expatriate workers due to absence of Income Tax and many other tax reliefs. But this scenario would not last too long.
The six Gulf countries are trying hard to meet the deadline for the implementation of corporate and individual income tax by 2012. According [...]
THE TOP 10 STUPID TAXES – III
(cont.)
7. 1689: Tax incentives for gin production
Anyone familiar with Hogarth’s engraving, Gin Lane, will understand the implications of this tax blunder. William and Mary, the protestant monarchs who ruled between 1689 and 1702, discouraged the importation of brandy from the Catholic French and instead promoted the local production of gin by abolishing taxes and licensing [...]