Cash purchase of goods, services over Rs 2 lakh to attract 1% tax
Payment in cash for buying goods and services worth more than Rs 2 lakh with the exception of jewellery will attract 1 percent tax collected at source (TCS) from Wednesday.
May 31, 2016, 22:26 PM IST
Japan's Shinzo Abe may leave tax hike to next PM: Reports
Japan Prime Minister Shinzo Abe intends to push back his debt-loaded country's next tax hike for two and a half years, when he will likely have left office, reports said Sunday.
May 29, 2016, 17:14 PM IST
Attention tax evaders: From June 1, declare black money and come clean or else....
This warning comes straight from the Finance Ministry: declare black money and come clean from June 1 or face penalty and be subject to scrutiny and enquiry by tax department.
May 29, 2016, 12:49 PM IST
IT department to 'name and shame' crorepati defaulters this fiscal
The department has begun publishing the names of tax defaulters in leading national dailies since last year and has named 67 such defaulters from across the country till now.
May 24, 2016, 22:10 PM IST
Government vows to crack down on super-rich tax evaders
Figures published last month for the first time since 2000 showed just how few of India`s top earners pay tax. Only six people earning over 500 million rupees ($7.4 million) filed returns in 2012-13.
May 22, 2016, 14:18 PM IST
Investors making money must pay taxes; no fear of FDI fall: Arun Jaitley
He said there was no "serious apprehension" of investors shifting base to other tax havens and he sees no depletion in FDI flows due to re-drawing of decades-old tax treaty with Mauritius -- the biggest source of foreign investments into India.
May 15, 2016, 14:24 PM IST
Revised Mauritius tax pact may hit overseas fund flows
The new pact to levy capital gains tax on investments coming through Mauritius may put foreign portfolio investors in a fix and the impact is likely to be reflected in stock markets Tuesday with experts expecting the cost of foreign investments to go up.
May 10, 2016, 22:56 PM IST
Panama Papers: 2,000 Indian links revealed in fresh ICIJ leaks
A random check of the database for India displays about 22 offshore entities, 1,046 officers or individual links, 42 intermediaries and as many as 828 addresses within the country.
May 10, 2016, 09:04 AM IST
CBDT sets August 31 as deadline for clearing pending ITRs, refunds
Taxpayers have been advised to check their status of pending returns for the said AYs at the IT department website for e-filing -- http://incometaxindiaefiling.Gov.In/. They can log in by using their PAN number and specific year of assessment.
May 09, 2016, 23:51 PM IST
Greek parliament approves controversial pension, tax reforms
Greek lawmakers have adopted a controversial package of pension cuts and tax hikes despite mass public opposition, bowing to creditor demands in a bid to unlock the next tranche of badly-needed bailout funds.
May 09, 2016, 21:11 PM IST
DNA: Only 4% of Indian polpulation pays income tax
The big data has revealed that only 4% of Indian population pays tax which accounts for 5.17 Crore. Watch complete news story of DNA for getting detailed updates!
May 03, 2016, 00:20 AM IST
Top 50 US companies including Apple, Walmart, Google stashed $1.4 trillion in tax havens
As many as top 50 US companies, including the likes of Apple, Walmart, General Electric, Microsoft, Google and Coca-Cola have a whopping $1.4 trillion stashed in offshore tax havens, an Oxfam report has revealed.
Apr 14, 2016, 23:09 PM IST
Govt should strive for clear, stable taxation laws: Narayana Murthy
Making a case for "compassionate capitalism", Infosys co-founder N R Narayana Murthy Wednesday said the government should ensure smooth functioning for businesses and entrepreneurs through measures like clear taxation laws to enable creation of more jobs and wealth.
Apr 13, 2016, 22:48 PM IST
'Companies working with World Bank in Africa use tax havens'
The vast majority of companies that received money from the World Bank's private lending arm last year to finance investment in Africa's poorest region use tax havens, a campaign group has said.
Apr 12, 2016, 22:37 PM IST
EU cracks down on tax havens, targets big companies
The EU unveils plans on Tuesday to force the world`s biggest multinationals to accurately report their earnings and pay fair taxes, a measure made even more urgent by the Panama Papers scandal.
Apr 12, 2016, 18:25 PM IST
China says tax reform will boost economy, structural changes
China's value-added tax reforms will help support the economy and speed up structural adjustments, Vice Finance Minister Shi Yaobin said on Tuesday, playing down concerns such reforms could fan property speculation.
Apr 12, 2016, 18:21 PM IST
David Cameron says his tax affairs 'entirely standard practice'
British Prime Minister David Cameron Monday described as "deeply hurtful and profoundly untrue" comments about his late father's investments as he faced MPs in the House of Commons for the first time since the Panama Papers row.
Apr 11, 2016, 23:13 PM IST
15% duty on certain goods on India return after 1-year foreign stay
Indians returning home after a year-long foreign stay will have to pay 15 percent duty on bringing colour television, home theatre system and bullion other than ornaments into the country
Apr 10, 2016, 22:59 PM IST
