Hasmukh Adhia

Govt to keep track of deposits above Rs 2.5 lakh, to attract tax plus 200% penalty on income mismatch

Further dangling the stick, government on Wednesday night warned that cash deposits above Rs 2.5 lakh threshold under the 50-day window could attract tax plus a 200 percent penalty in case of income mismatch.

Nov 10, 2016, 09:03 AM IST

Auto industry meets Revenue Secretary Hasmukh Adhia; cess, luxury car definition in focus

The auto industry today discussed with Revenue Secretary Hasmukh Adhia, the rate of cess and definition of luxury cars under the GST regime, which is likely to kick in from April next.

Nov 07, 2016, 15:01 PM IST

Narendra Modi compliments Arun Jaitley, says income tax disclosure scheme successful

Prime Minister Narendra Modi on Saturday complimented Finance Minister Arun Jaitley and his team for the Income Tax Disclosure Scheme and said their hard work had led to a "successful outcome".

Oct 01, 2016, 18:29 PM IST

GST Council to finalise registration, other rules on September 30

Moving on fast track to meet the April 2017 GST rollout deadline, the tax department on Monday came out with draft rules relating to registration, invoice and payment which will be finalised by the GST Council on Friday.

Sep 26, 2016, 22:37 PM IST

No extension in deadline for black money disclosure scheme

Government on Friday ruled out any extension to the September 30 deadline for filing income disclosure under the black money compliance window.

Sep 24, 2016, 00:29 AM IST

Industry chambers meet Adhia, discuss model GST law

Raising concerns over the model GST law, industry chambers today sought more clarity on various issues like dual administrative control, discretionary power of tax authorities and taxation of electricity.

Aug 19, 2016, 19:21 PM IST

60,000 officers to be trained on GST; IT infra to be ready by March

As many as 60,000 revenue officials of central and state governments will be trained on GST laws and IT infrastructure framework to prepare them for rollout of the new indirect tax regime by April 2017.

Aug 04, 2016, 18:52 PM IST

Rs 43,000 crore undisclosed income unearthed in 2 years, says govt

The Income Tax Department has unearthed undisclosed income of Rs 43,000 crore in the last two fiscals, Union Revenue Secretary Hasmukh Adhia said on Friday.

Jul 02, 2016, 00:17 AM IST

Govt checking if any blackmoney returned to India: Revenue Secy

In the wake of deposits held by Indians in Swiss banks dropping by 33 percent, Revenue Secretary Hasmukh Adhia on Friday said the government is checking if any of the blackmoney has been routed back to India.

Jul 01, 2016, 18:34 PM IST

No target of 10 crore tax base: Government

In the wake of confusion over whether Prime Minister Narendra Modi had set a target of doubling the income tax base to 10 crore, government on Saturday came out with a statement correcting an earlier press release and saying no specific target has been prescribed.

Jun 18, 2016, 18:11 PM IST

Scope for expansion of tax base: Hasmukh Adhia

A day after Prime Minister Narendra Modi spoke about near-doubling of taxpayer base to 10 crore, Revenue Secretary Hasmukh Adhia on Friday sought to contextualise the statement saying he was talking about "scope for expansion" and getting to that mark is "impossible".

Jun 17, 2016, 22:12 PM IST

Direct tax collection picks up 18% to Rs 43,391 crore in Apr-May

What comes out as a good news for the economy, a jump of 18 percent to Rs 43,391 crore was registered in net direct tax collections during the first two months of the current fiscal, the government said on Friday.

Jun 10, 2016, 18:55 PM IST

Wrap up probes early, improve conviction rate: Hasmukh Adhia to Enforcement Directorate

Concerned over "very poor" conviction rate in money-laundering cases, Revenue Secretary Hasmukh Adhia today asked the Enforcement Directorate (ED) to step up and complete probes as early as possible.

Apr 30, 2016, 18:10 PM IST

In need of cash, Finance Ministry chases nearly Rs 8 lakh crore billion in elusive back taxes

India's Finance Ministry is asking for regular progress reports from tax collectors and has set a date for an amnesty to pay off arrears on undeclared domestic assets, as the government intensifies efforts to meet its ambitious deficit target.

Apr 18, 2016, 14:44 PM IST

ITR asset disclosure norm to affect 1.5 lakh ultra rich: Hasmukh Adhia

The new income tax return form requiring assessees earning more than Rs 50 lakh per annum to disclose assets will only impact 1.5 lakh ultra-rich individuals, the Revenue Department said on Friday.

Apr 01, 2016, 22:13 PM IST

Confusion on EPF due to bad phrasing in Budget speech: Adhia

Union revenue secretary Hasmukh Adhia today defended the proposal to tax Employee's Provident Fund withdrawals, saying the intention was only to encourage investment in pension schemes, but the phrasing in the Budget speech caused the confusion.

Mar 05, 2016, 22:47 PM IST

PoEM postponed for convenience of accounting: Adhia

The rules for determining place of effective management of a company have been deferred till April 2017 so as to give corporates sufficient time to prepare accounts according to their place of residency under the new norms, Finance Ministry said today.

Mar 03, 2016, 14:06 PM IST