'Target non-TDS income group, cash economy to widen tax base'
To widen the tax base, a Parliamentary panel on Thursday asked the government to use its resources with "strict vigil" over non-TDS income group and which are lying above Rs 5 lakh annual income bracket.
Dec 03, 2015, 19:13 PM IST
No proposal to levy 'environmental charge': Govt
Seeking to boost the clean India initiative, the government has started imposing a 'Swachh Bharat cess' of 0.5 per cent on all services liable for service tax.
Dec 02, 2015, 21:11 PM IST
Good news for taxpayers! Income Tax grievances to be addressed in 2 months
Taxpayers facing "high-pitched" assessments or unfair scrutiny by the Income Tax Department can now attempt to get their grievances redressed in a short time before undertaking the arduous litigation route of courts or other appellate mechanisms.
Nov 17, 2015, 17:43 PM IST
Swachh Bharat cess to be levied on portion of taxable service
Finance Ministry Thursday said that service tax on restaurant bills will go up from 5.6 percent to 5.8 percent following the levy of 0.5 percent Swachh Bharat cess on all taxable services from November 15.
Nov 12, 2015, 22:00 PM IST
Govt extends tenure of Lahiri Panel by 1 year
Government has extended by one year the tenure of a high level committee set up under former Chief Economic Advisor Ashok Lahiri to suggest steps to sort out taxation problem being faced by the trade and industry.
Nov 12, 2015, 16:12 PM IST
Efforts to roll out GST from next fiscal: Jayant Sinha
Regretting at "low" tax payment, the Minister said the Narendra Modi-led government at the Centre, which has a mandate to provide corruption free and transparent regime, had toughened laws to prevent tax evasion and curb black money.
Nov 07, 2015, 20:38 PM IST
Interest on rupee denominated bonds to attract 5% tax
Reserve Bank of India has recently permitted the corporates to issue rupee denominated bonds outside India.
Oct 29, 2015, 14:33 PM IST
Govt should abstain from increasing tax exemption limit: Report
The government should refrain from frequently raising the tax exemption threshold to avoid erosion in the number of taxpayers and also needs to adopt measures to move towards a cash-less regime, says a report.
Oct 27, 2015, 23:13 PM IST
Greece sacks tax chief during EU-IMF audit
"The cabinet has unanimously approved the finance minister's recommendation that general secretary for public revenue (Katerina) Savvaidou be removed from her duties," government spokeswoman Olga Gerovassili said.
Oct 22, 2015, 19:38 PM IST
Services of banking correspondents under PMJDY out of tax loop
The government has exempted from tax the services of a banking correspondent for opening savings account under Jan Dhan Yojana, in a move aimed at promoting financial inclusion.
Oct 22, 2015, 14:59 PM IST
EU demands Starbucks, Fiat pay back millions in tax breaks
The European Union is demanding that US coffee chain Starbucks and carmaker Fiat repay up to 30 million euros (USD 34 million) each in tax breaks they received from EU nations, in a major ruling to cut down on sweet tax deals multinationals often shop for.
Oct 21, 2015, 18:40 PM IST
Domestic investors, MFs pitch for easier taxation, uniform KYC
Rationalisation of tax rules and introduction of uniform KYC were some of the steps which were suggested by the domestic financial institutions (FIs) to promote ease of doing business and encourage retail participation in the securities market.
Oct 21, 2015, 16:57 PM IST
Govt to track tax robberies through digital platform
The government of India is planning to track and monitor tax robberies through a digital software called Income Tax Business Application - Permanent Account Number.
Oct 19, 2015, 09:35 AM IST
FM Jaitley pledges a friendly tax regime, 25% corporate tax
Taking a dig at the previous UPA administration for bringing in the retro tax, Jaitley said this had resulted in many disputes which gave the country "a bad name" among global investors who chose to leave the country.
Oct 17, 2015, 21:33 PM IST
Arbitration not best way to settle tax disputes: CBDT chief
Arbitration is not the best way to resolve tax disputes, CBDT Chairperson Anita Kapur said , stressing that the Indian legal system is fair enough to deal with taxation issues.
Oct 13, 2015, 16:19 PM IST
Antim Baazi: Bombay High Court's Big Decision on Vodafone
Bombay High court has given their final verdict on Vodafone case where they have favoured the side of Vodafone.The case was about 3700 crore tax that was asked between 2008-2009.
Oct 08, 2015, 18:48 PM IST
Transfer pricing case: Bombay HC rules in favour of Vodafone, sets aside ITAT order
Transfer pricing involves related entities dealing at arm's length to ensure fair pricing of the asset that is transferred.
Oct 08, 2015, 17:37 PM IST
Income tax department employees to hold strike today
The associations said if their demands for timely promotion in cadres and providing required infrastructure is not met, the work of budget collection and taxpayer services are "bound to fail" in the coming days.
Oct 08, 2015, 08:56 AM IST
Govt may seek special dividend from top PSUs to meet tax deficit
Companies like Coal India Ltd, NTPC, ONGC, GAIL, IOC etc may be asked to pay special dividend if government decides so.
Oct 07, 2015, 22:10 PM IST
Vedanta urges Centre for reasonable tax regime
Mining firm Vedanta Wednesday urged the government for a reasonable taxation regime, saying that iron ore mining companies shell out as high as 45 percent in taxes.
Oct 07, 2015, 21:43 PM IST
