DTAA with Mauritius will be revised soon: Revenue Secretary
The negotiations on the double taxation avoidance agreement (DTAA) between India and Mauritius are in advanced stage and the pact would be revised soon, Finance Ministry said Thursday.
Jul 10, 2015, 00:00 AM IST
Info under FATCA confidential, to be used for tax purposes
The information shared under the FATCA, which India signed with the US Thursday, will be treated as confidential and will be used only for tax purposes.
Jul 09, 2015, 22:34 PM IST
Indian businesses turn sceptical on PM Modi's landmark tax reform
Companies are equally worried that the reform does not extend to real estate, one of the biggest revenue generators for the states, leaving them still subject to state taxes on plant and property, possibly including machinery.
Jul 02, 2015, 09:27 AM IST
Mauritius joins global tax convention to fight black money
In a significant boost for the global fight against black money, Mauritius has become a signatory to the multilateral framework that provides mutual administrative assistance on tax matters with India and other countries.
Jun 24, 2015, 21:48 PM IST
Govt notifies new and simplified ITR forms
The Income Tax department has notified the new set of ITR forms, including a three-page simplified one, for taxpayers to file their returns for assessment year 2015-16.
Jun 23, 2015, 20:48 PM IST
Use credit or debit card? Here are the benefits govt has planned for you
The government has proposed income tax benefits for people making payments through credit or debit cards. This move also aims to boost digital payement and encouraging non-cash transactions.
Jun 23, 2015, 11:14 AM IST
I-T dept plans stringent action against habitual evaders
This follows a strategy evolved at a recently-concluded national conference of I-T brass here where it was decided to go after the evaders with full vigour.
Jun 21, 2015, 10:46 AM IST
Black money: Taxman to create awareness among school students
After undertaking a slew of measures to combat black money instances in the national and international arena, the Income Tax department has decided to catch the imagination of school-going children for creating awareness on the issue and building a social deterrence against such crimes.
Jun 15, 2015, 19:08 PM IST
Spurt in indirect taxes indicates economic recovery: CEA
The Finance Ministry Thursday said the spurt in indirect tax collections this fiscal was an indication of economic recovery though there was some need for caution as these were only early indications.
Jun 11, 2015, 20:04 PM IST
Indirect tax collection up 39.2%; excise reflects manufacturing uptick
Indirect tax collection has jumped 39.2 percent in April-May, with excise showing a smart rise reflecting pick up in manufacturing, Finance Minister Arun Jaitley said Wednesday.
Jun 10, 2015, 21:32 PM IST
CBDT asks I-T Dept to address taxpayers' grievances in time-bound manner
In order to aggressively mitigate grievances of taxpayers, CBDT has asked the taxman to address rectification applications filed by affected assesses in a prompt and time-bound manner.
Jun 10, 2015, 18:48 PM IST
Service tax only in AC restaurants; effective rate 5.6%
Restaurants, eating-joints or messes, which do not have the facility of air-conditioning or central-heating in any part of the establishment are exempt from service tax.
Jun 09, 2015, 16:59 PM IST
Strong action against big tax evaders acts as deterrent: CBDT
The CBDT Monday dismissed reports that it has asked its officers to go beyond raids and searches to target tax evaders and maintained that stringent action in big cases of evasion would go a long way to demonstrate to compliant taxpayers that laws are just and fair.
Jun 08, 2015, 22:55 PM IST
Black money: Switzerland asks banks to check illegal asset flows
Under pressure from India and other nations to act against black money menace, Switzerland will put in place stricter due diligence norms for banks to prevent inflow of illicit assets into the country.
Jun 05, 2015, 22:22 PM IST
States demand full compensation for 5 years after GST rollout
States Thursday pressed for Centre compensating fully for the loss of revenue in the first five years of GST replacing their taxes, a position that may create hurdle in plans for roll out of new tax regime from next year.
Jun 04, 2015, 21:08 PM IST
State FMs to meet Thursday to discuss GST rate
The Empowered Committee of State Finance Ministers, headed by K M Mani, will meet here Thursday to deliberate on the revenue neutral rate, besides other issues, for smooth roll out of Goods and Services Tax (GST).
Jun 03, 2015, 22:52 PM IST
Investment routed from Mauritius to India for tax benefits: WTO
Tax treaty benefits are prompting investors to route their investments from Mauritius into India, WTO has said.
Jun 03, 2015, 18:17 PM IST
GST will have double positive impact in transport sector: Study
The ambitious Goods and Services Tax (GST) would help the transportation sector in improving its efficiency besides reducing the logistics cost, a study has said.
Jun 02, 2015, 17:44 PM IST
Higher service tax comes into effect; eating out, travel and mobile become expensive
The government's proposal to increase the rate of service tax from 12.36 percent (including education cess) to 14 percent has come into effect from Monday.
Jun 01, 2015, 08:38 AM IST
Mobile, hotel, other services to be costlier from Monday
Finance Minister Arun Jaitley in his Budget had proposed to raise service tax from 12.36 per cent (including education cess) to 14 per cent. The proposal takes effect from June 1.
May 31, 2015, 11:37 AM IST
