USIBC applauds ruling on minimum alternative tax
This decision reduces tax uncertainty for FIIs and will result in increased investment into India, the USIBC said in a statement.
Sep 02, 2015, 08:33 AM ISTIndia, Germany agree to enhance tax info sharing, revise DTAA
India and Germany have agreed to enhance exchange of tax-related information and revise the bilateral tax pact, the final version of which would be ready by September 2015, Finance Ministry said Friday.
Aug 28, 2015, 15:57 PM ISTIT Dept suspects Rs 400-cr tax evasion on cap gains in Maharashtra
The Income Tax department has detected about 200 cases of bogus "long term capital gains" in Nagpur, Aurangabad and Nashik divisions of Maharashtra where tax of around Rs 400 crore was evaded.
Aug 26, 2015, 22:50 PM ISTFirst set of tax sop phase-out in public domain soon: Jaitley
Finance Minister Arun Jaitley Sunday said a discussion paper on first set of tax exemptions to be phased out would be put in the public domain shortly.
Aug 23, 2015, 18:22 PM ISTFight against black money: SEBI bars 59 entities
In a fresh clampdown on entities misusing stock markets for evading taxes, regulator SEBI Thursday barred 59 entities, including HNIs, from securities markets and also referred the case to the Income Tax Department for further investigations.
Aug 20, 2015, 21:33 PM ISTNo juniors, only senior I-T officials to depose before AAR: CBDT
In order to present the revenue side more effectively in high-value and important cases before the AAR judicial forum, CBDT has decided to stop the practice of sending junior-level Income Tax officials to these hearings and has ordered their seniors to take up the task.
Aug 19, 2015, 16:21 PM ISTGovt plans to make PAN universal
The government will soon launch a facility under which a PAN card will be issued to all citizens, as per media reports.
Aug 19, 2015, 14:35 PM ISTHave centralised monitoring for audit objections: CAG to CBDT
Government auditor CAG has suggested to the Central Board of Direct Taxes to introduce centralised monitoring mechanism to timely deal with the internal audit objections.
Aug 11, 2015, 22:30 PM ISTIndirect tax revenue surges 37% to Rs 2.1 lakh crore in Apr-Jul
Indirect tax revenue jumped over 37 percent to over Rs 2.1 lakh crore during April-July period of current fiscal, on the back of higher excise collections.
Aug 11, 2015, 16:01 PM ISTGovt notifies changes in I-T rules to comply with FATCA pact
The Revenue Department has amended income tax rules to provide for reporting of information with regards to financial assets and accounts, a month after India signed a tax information sharing agreement with the US.
Aug 09, 2015, 11:49 AM ISTIncome tax department notifies return forms for firms
The Central Board of Direct Taxes (CBDT) has notified tax returns forms for non-salaried class, including companies, partners in firms and individuals deriving their income from proprietary business or profession for 2015-16.
Aug 02, 2015, 22:33 PM ISTNew ITR forms for non-salaried individuals: Which form should you file?
The Income Tax department has notified the revised set of ITR forms for non-salaried individuals to file their returns for the assessment year 2015-16.
Aug 01, 2015, 12:40 PM ISTBlack money abroad declaration form can be filed online
The government has notified the form for declaring income and assets abroad as well rules for their calculation under the Undisclosed Foreign Income and Assets Bill and these can also be filed online, parliament was told on Friday.
Aug 01, 2015, 00:33 AM ISTCBDT to expeditiously process MAT exemption claims of FIIs
Government on Friday said the tax department will expeditiously process the cases where FIIs have claimed exemption from minimum alternate tax (MAT) as a benefit under the bilateral tax treaties.
Jul 31, 2015, 18:27 PM IST17 individuals owe a whopping Rs 2.14 lakh crore tax arrears
Just 17 individuals have a whopping Rs 2.14 lakh crore as outstanding tax arrears, with each of them owing more than Rs 1,000 crore.
Jul 30, 2015, 19:54 PM ISTMAT stand-off: Shah panel submits report to FM
The high-level Justice A P Shah Committee Friday submitted a 66-page report to the government on applicability of minimum alternate tax (MAT) on FIIs, an issue which had riled foreign investors.
Jul 24, 2015, 22:18 PM ISTEU orders France's EDF to repay huge tax break
The EU ordered France`s electricity giant EDF to repay the French state 1.37 billion euros ($1.5 billion) in back taxes on Wednesday, in a case dating from 1997.
Jul 22, 2015, 19:10 PM ISTGreece prepares to reopen banks, apply tax hikes
Banks are set to reopen Monday after a three-week shutdown estimated to have cost the economy some 3.0 billion euros ($3.3 billion) in market shortages and export disruption.
Jul 19, 2015, 17:12 PM ISTArun Jaitley says 8-10% growth achievable, tax revenues growing
He also said monsoons are progressing well and there are expectations that "rain gods will be kinder" this year, which would result in higher production of pulses and other items.
Jul 12, 2015, 15:57 PM ISTManual scrutiny of Service Tax returns from Aug 1: CBEC
The assessees who are subject to service tax audits would not be covered under the detailed scrutiny programme.
Jul 10, 2015, 22:49 PM IST