Tax dept asks officers to suggest changes in direct tax laws
In a bid to keep nation's tax laws in conformity with changing times, the Income Tax Department has created a permanent mechanism for seeking inputs from its officers for changes required in the direct tax regulations.
Aug 25, 2016, 17:28 PM IST
Cairn tax dispute: India has to respond by Nov on $5.6 bn compensation demand, says CEO
India has time till November to respond to Cairn Energy's demand for USD 5.6 billion compensation in the retrospective tax case, said CEO of the British oil firm, Simon Thomson.
Aug 25, 2016, 16:54 PM IST
1% TCS on cash buy not to apply on embassies, UN bodies, Govt depts
Government department, embassies, consulates and UN bodies will be among those exempted from the levy of 1 percent tax collection at source (TCS) on cash purchases of above Rs 2 lakh, CBDT said Monday.
Aug 22, 2016, 15:16 PM IST
Britain launches soft drinks sugar tax to fight obesity
Britain on Thursday said it would tax companies which sell sugary soft drinks and invest that money in health programmes for school children, part of a long-awaited strategy to curb childhood obesity that critics say is too weak.
Aug 18, 2016, 19:04 PM IST
Indirect tax collection up 30% in June quarter against last FY
The collection up to June indicate that 25.7 percent of the annual budget target of indirect taxes has been achieved in the first three months of the fiscal.
Aug 16, 2016, 19:52 PM IST
PM Modi assures middle class of an end to tax terrorism
"Middle class, upper middle class used to be hassled with I-T officers, more than police. I have to change this situation, I am working on it and will make the change happen," Modi said in his Independence Day address.
Aug 15, 2016, 08:51 AM IST
Black money: No proposal to extend Income Disclosure Scheme deadline, says Govt
The government on Friday said it is not considering any proposal to extend the four-month deadline for disclosing domestic black money under the Income Disclosure Scheme (IDS), which ends on September 30.
Aug 12, 2016, 16:00 PM IST
Government's tax kitty swells to Rs 4.3 lakh crore in April-July
Reflecting an upturn in economic activity, government's revenue collection showed an impressive growth in April-July period of this fiscal, with total direct and indirect tax mop-up rising to Rs 4.3 lakh crore.
Aug 09, 2016, 22:53 PM IST
GST impact: Cars, FMCG items to get cheaper; services dearer
Luxury cars, FMCG products, consumer durables, electronics items and readymade garments will become cheaper once GST is rolled out next year, but mobile phones, banking and insurance services, telephone bills as well as air travel will be dearer due to higher tax.
Aug 07, 2016, 12:35 PM IST
GST Bill passed in Rajya Sabha; decks cleared for India's biggest tax reform
In the biggest tax reform since Independence, the national sales tax or GST Bill was Wednesday approved by the Rajya Sabha to replace a raft of different state and local taxes with a single unified value added tax system to turn the country into world's biggest single market.
Aug 03, 2016, 22:43 PM IST
GST to be simple with 1% additional tax removal: Experts
With the government dropping the contentious 1 percent additional inter-state tax, the proposed national sales tax or the GST stands simplified with aberrations removed, said tax experts.
Jul 31, 2016, 12:14 PM IST
CBDT issues draft norms for taxing buy back of unlisted shares
Central Board of Direct Taxes (CBDT) Monday came out with draft rules for determining the quantum of distributed income arising out of buy back of shares of unlisted companies for levy of tax.
Jul 25, 2016, 17:44 PM IST
PM Modi's ultimatum to tax defaulters | Part I
P.M Modi has given the last opportunity to tax defaulters for declaring their undeclared property under tax declaration scheme. Watch this special segment and get to know more here.
Jul 25, 2016, 16:41 PM IST
Department of Posts fails to pay tax, CBEC faults officials
The Department of Posts could not pay its service tax because of "unwarranted refusal" by the officials concerned who did not exercise their discretionary power in letting it pay the levy through cheque.
Jul 24, 2016, 16:46 PM IST
I-T dept to issue notice to seek information about PAN
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Jul 21, 2016, 23:48 PM IST
7th Pay Commission: How it will change your exact salary-know simply
Here we will show you the how 7th Pay Commission will change your exact salary keeping in mind the 4 main salary bands.
Jul 13, 2016, 16:08 PM IST
7th Pay Commission: Key things you should avoid doing with the additional money
It's highly recommended that the additional money you receive is invested wisely.
Jul 13, 2016, 13:42 PM IST
Relief for taxpayers: No recovery during pendency of stay
In a relief to tax payers, the government has asked taxmen not to proceed with recovery of a 'confirmed' demand in relation to indirect taxes during pendency of stay applications.
Jul 05, 2016, 17:18 PM IST
Tax department must trust assessees: Arun Jaitley
Making a case for increasing the taxpayer base, Finance Minister Arun Jaitley has said the government's intention is to keep taxation rate "moderate" and emphasised that tax department needs to start trusting the assessees.
Jul 03, 2016, 19:56 PM IST
Double taxpayers to 10 crore people, says PM Modi; warns against tax evaders
At the conference titled 'Rajasva Gyan Sangam' (Knowledge Conference on Revenue), Modi asked the officials to "move towards digitisation" to make tax administration efficient and work towards bridging the "trust deficit".
Jun 16, 2016, 18:27 PM IST
