Archives for tax
Section 174 of the US IRC was updated in 2022, and companies can no longer claim immediate 100% tax deductions for expenses related to software development.
The post Did Big Tech Companies in the US Lay Off Thousands to Save Tax? appeared first on Analytics India Magazine.
As of December 31, 2020, two-thirds of Indian household financial assets were concentrated in bank deposits, insurance funds, and provident and pension funds, RBI revealed.
The post AI is Now Your Financial Guru appeared first on Analytics India Magazine.
Recently Salesforce Research launched an open-sourced framework for economic policy design and simulation: AI Economist. It is an economic simulation environment in which Artificial intelligence agents extract and trade resources, make houses, earn salaries, and pay taxes to the government bodies. It is a reinforcement learning(RL) problem to tax research to provide simulation and data-driven…
The post Salesforce Launches AI-Economist: A Complete Guide With Python Codes appeared first on Analytics India Magazine.
There could also be a number of challenges that tax authorities in India may face when using artificial intelligence. These can include the need to balance centralisation of tax assessment with on-ground experience, uncertainties around being able to develop models which deliver a positive impact on performance, the varying range of choices in AI solutions,…
The post Can Artificial Intelligence Remove Tax Compliance Inefficiencies In India? appeared first on Analytics India Magazine.
Union Finance Minister Nirmala Sitharaman this week announced that India will be using artificial intelligence and machine learning in the tax assessment process system from October 2019. In doing, so, India will become one of the first countries to adopt emerging tech on such a large scale in public tax assessment. The Steering Committee on…
The post India To Implement Faceless Tax Assessment Using Artificial Intelligence By Oct appeared first on Analytics India Magazine.
Operation Clean Money Gets A Big Data Boost With Project Insight Implemented To Catch Tax Evaders
India has historically been a haven for tax evaders, as many rich and powerful individuals have slipped under the radar and made away with crores of rupees. The Income Tax Department of India has long been on the tail of such evaders and they have struggled to catch up. Black money hence became a mainstay…
The post Operation Clean Money Gets A Big Data Boost With Project Insight Implemented To Catch Tax Evaders appeared first on Analytics India Magazine.