India to grow 7.5% in FY16, highest in G20: Moody's
Moody's said India will grow at a strong pace of 7.5 percent in 2015-16, the highest among G20 economies, helped by the reforms drive and lower oil prices.
May 12, 2015, 15:11 PM IST
Breather for FIIs: MAT assessments, fresh notices put on hold
To assuage concerns of foreign portfolio investors slapped with MAT demand, the government Monday put on hold issuance of fresh notices and any further assessments on levy of this tax on such entities.
May 11, 2015, 17:09 PM IST
Govt tables Black Money Bill in Lok Sabha, promises tough punishment for tax evaders
The finance minister said that it would soon become difficult for people to hide ill-gotten wealth. “The Bill doesn't deal with domestic black money,” Jaitley said.
May 11, 2015, 15:25 PM IST
GST Bill coming up before Rajya Sabha on Monday
The government is set to bring on Monday the Goods and Services Tax (GST) bill, aimed at reforming of India`s indirect tax regime, before the Rajya Sabha, where some opposition parties led by the Congress want its vetting by the Select Committee.
May 10, 2015, 17:09 PM IST
Govt to revise tax treaty with South Korea
Ahead of Prime Minister Narendra Modi's visit to South Korea this month, the Cabinet Wednesday approved revising the double tax avoidance pact with Seoul to provide tax stability and facilitate flow of investment and technology between the countries.
May 06, 2015, 22:32 PM IST
MAT case: Bombay High Court stays tax claim against Aberdeen Asset
Uncertainty around MAT has built in recent weeks and unsettled foreign investors, sending India`s stock market lower.
May 05, 2015, 20:01 PM IST
Taxability of LPG subsidy unclear; experts seek clarification
Taxability of LPG subsidy and other direct benefits paid directly into bank accounts of beneficiaries is unclear with tax experts divided on the issue and want an explicit clarification from the government.
May 04, 2015, 15:25 PM IST
India should open up its market to all investors: Experts
India will have to open its market to all investors, eliminate exchange control, remove subsidies and create certainty on tax issues, two leading investments experts here said.
May 03, 2015, 11:55 AM IST
Jaitley warns India Inc against profiting from liberal tax regime
Warning corporates not to take unfair advantage of the liberalised tax environment, Finance Minister Arun Jaitley on Friday said the world is moving towards a more transparent regime that would remove the veil of secrecy from unlawful transactions.
May 01, 2015, 15:17 PM IST
Govt gives relief for REITs, InVITs on Minimum Alternate Tax
The government Thursday said minimum alternate tax would be applicable on the real estate and infrastructure investment trusts only when there is actual transfer of their units.
Apr 30, 2015, 23:30 PM IST
Five FPIs challenge MAT before Bombay HC; hearing on May 6
Five foreign portfolio investors (FPIs) from the US and the UK today moved the Bombay High Court challenging the Income Tax department's demand for Minimum Alternate Tax (MAT) on the profit earned from trading in stocks and bonds.
Apr 30, 2015, 19:37 PM IST
FM exempts foreign investors from MAT; simple ITR on way
Finance Bill was passed by voice vote, bringing to close the three-stage budget process in the House.
Apr 30, 2015, 19:14 PM IST
FM provides some relief to foreign investors from MAT
In a minor relief to foreign investors, Finance Minister Arun Jaitley on Thursday said capital gains made by them will be exempt from Minimum Alternate Tax (MAT), but did not provide relief for past liabilities.
Apr 30, 2015, 18:56 PM IST
FIIs to be exempt from MAT but no retrospective relief: Arun Jaitley
Seeking to contain the adverse fall out of minimum alternate tax (MAT) levy on foreign investors, Finance Minister Arun Jaitley on Thursday said that foreign institutional investors (FIIs) will be exempt from it however there will be no retrospective relief.
Apr 30, 2015, 18:05 PM IST
Govt to soon come out with simplified ITR form: Arun Jaitley
Responding to the Finance Bill debate in Parliament, Jaitley said that the ITR form will be overhauled and the new form will be finalised soon.
Apr 30, 2015, 17:13 PM IST
Rs 4.85 lakh crore tax due from corporates
Corporates owed over Rs 4.85 lakh crore to the government as outstanding dues under direct and indirect taxes towards the end of the last fiscal, parliament was told on Tuesday.
Apr 29, 2015, 00:16 AM IST
GST Bill likely to be taken up in Lok Sabha next week
Hopeful of support from some opposition parties, the government is likely to take up the Constitutional amendment bill for the roll-out of GST next week in the Lok Sabha for consideration.
Apr 28, 2015, 21:50 PM IST
Need to build consensus among states on GST: Mani
GST Empowered Committee Chairman K M Mani Monday said the new indirect tax regime will boost India's economy and the panel of state finance ministers needs to build a consensus among all states on the contentious matters before April 1, 2016 - the deadline for launching Goods and Services Tax.
Apr 27, 2015, 22:12 PM IST
New ITR forms: Special team to re-draft format after criticism
The new format of Income Tax Return (ITR) forms that was withdrawn by the government in the wake of complaints over providing details of foreign trips and domestic bank accounts is being revised to make it simpler.
Apr 27, 2015, 20:47 PM IST
Sensex dives 261 points to a 3-1/2 month low on tax worries
On its third straight fall Monday, the benchmark BSE Sensex plunged 261 points to a fresh three-and-a-half months low of 27,176.99 on sustained capital outflows and disappointing March quarter earnings so far.
Apr 27, 2015, 16:58 PM IST
