Us Tax Exemption

A new bipartisan bill has been introduced in the US Senate that allows tax exemption for crypto transactions under $50 (roughly Rs. 4,000), done for personal uses like paying for goods and services. The name of this bill is the “Virtual Currency Tax Fairness Act”. The proposal aims to make the day-to-day use of cryptocurrencies easier for the p...

The United States said Friday that it had suspended tax exemption privileges enjoyed by Pakistani diplomats in Washington due to parallel disputes with Islamabad in the latest dust-up between the countries.

Angered by Washington's refusal to exempt it from new steel and aluminium tariffs, New Delhi decided in June to raise the import tax from August 4 on some US products including almonds, walnuts and apples.

Chipmakers in China will be exempt from corporate taxes for two to five years followed by partial deductions.

Even as the government battles to keep the April 1, 2017, deadline for rolling out the GST (goods and services tax) regime, trade and industrial bodies have started making a strong pitch for low rates and exemptions.

"Our leader Nitish Kumar advised us to exempt PK from tax. We have decided to make it tax free to ensure that the poorest of the poor can watch the film that exposes the superstition and fraud taking place in the name of religion," Chief Minister Jitan Ram Manjhi announced

India's tax system is lopsided with an estimated 4 lakh people paying over 60 per cent of income tax collected in the country. Salaried Indians pay more income tax than high earners in US and China according to a survey. However, many millionaire farmers do not have to pay taxes as agricultural income is exempt from income tax.

As soon as you receive your first salary slip, you become all ears for tax deductions. In the pursuit of saving tax, we often make financial decisions which might save us some tax but also consume a majority of our surplus.

After WNS and Infosys, iGate is the latest to face tax issues in India with the US-based outsourcing firm having an "unsettled" tax demand of $132.7 million (about Rs 738 crore) for assessment years 2004-05 to 2009-10.

A new bipartisan bill has been introduced in the US Senate that allows tax exemption for crypto transactions under $50 (roughly Rs. 4,000), done for personal uses like paying for goods and services. The name of this bill is the “Virtual Currency Tax Fairness Act”. The proposal aims to make the day-to-day use of cryptocurrencies easier for the p...

The United States said Friday that it had suspended tax exemption privileges enjoyed by Pakistani diplomats in Washington due to parallel disputes with Islamabad in the latest dust-up between the countries.

Angered by Washington's refusal to exempt it from new steel and aluminium tariffs, New Delhi decided in June to raise the import tax from August 4 on some US products including almonds, walnuts and apples.

Chipmakers in China will be exempt from corporate taxes for two to five years followed by partial deductions.

Even as the government battles to keep the April 1, 2017, deadline for rolling out the GST (goods and services tax) regime, trade and industrial bodies have started making a strong pitch for low rates and exemptions.

"Our leader Nitish Kumar advised us to exempt PK from tax. We have decided to make it tax free to ensure that the poorest of the poor can watch the film that exposes the superstition and fraud taking place in the name of religion," Chief Minister Jitan Ram Manjhi announced

India's tax system is lopsided with an estimated 4 lakh people paying over 60 per cent of income tax collected in the country. Salaried Indians pay more income tax than high earners in US and China according to a survey. However, many millionaire farmers do not have to pay taxes as agricultural income is exempt from income tax.

As soon as you receive your first salary slip, you become all ears for tax deductions. In the pursuit of saving tax, we often make financial decisions which might save us some tax but also consume a majority of our surplus.

After WNS and Infosys, iGate is the latest to face tax issues in India with the US-based outsourcing firm having an "unsettled" tax demand of $132.7 million (about Rs 738 crore) for assessment years 2004-05 to 2009-10.