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Amnesty Scheme for customs may be announced in Budget 2025-26 to reduce litigation: Experts

Amnesty Scheme for customs may be announced in Budget 2025-26 to...

Sun, Jan 12, 2025

In a bid to reduce litigation, Finance Minister Nirmala Sitharaman in the upcoming Budget may announce an Amnesty Scheme for customs to foster ease of doing business.

Most of top-level executives have positive perception of GST: Deloitte survey

Most of top-level executives have positive perception of GST: Del...

Wed, Jun 19, 2024

An increasing number of C-suite executives have a positive perception of GST with many highlighting further reforms like rationalising tax rates and effective dispute resolution process as focus areas to usher in GST 2.0, a Deloitte survey said on Wednesday.

Tax Payers on Social Media: 'My Taxes for National Progress, Not for Freebies' Campaign

Tax Payers on Social Media: 'My Taxes for National Progress,...

Fri, Jun 14, 2024

Tax payers are running "My tax for the progress of the country, not for free" campaign on social media. watch this video

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Direct Tax collections' reach 39.4% of FY18 Budget Estimates

Direct Tax collections' reach 39.4% of FY18 Budget Estimates

Wed, Oct 11, 2017

In the Union Budget 2017, the government has fixed direct collections target at Rs 9.8 lakh crore. So far, the govt has received Rs 3.86 lakh crore between April - September 2017.

Why govt is wrong that car, bike buyers are rich enough to afford high petrol, diesel prices

Why govt is wrong that car, bike buyers are rich enough to afford...

Sun, Sep 17, 2017

The Union Minister Alphons Kannanthanam commented on Saturday that those who can afford to buy a car or bike, can afford to pay for the high petrol and diesel prices too.

Income Tax: Your ITR filing process not complete unless send for ITR-Verification

Income Tax: Your ITR filing process not complete unless send for...

Sun, Jul 30, 2017

Tomorrow is the last to submit your Income Tax Return for the financial year 2016-17. With one day in hand, the taxpayers should come forward to file ITR to avoid penalties.

EY launches GST helpdesk for small businesses

EY launches GST helpdesk for small businesses

Sun, Jul 09, 2017

EY GST Helpdesk is driven by a pool of indirect tax professionals powered by over 800 GST practitioners across 14 cities.

World Bank doing biz report conveys half picture of India

World Bank doing biz report conveys half picture of India

Sun, Jul 09, 2017

The World Bank's findings on ease of doing business contain anomalies and do not truly reflect the reforms undertaken by India so far, especially with respect to taxes, says a commerce and industry

Is today the last day to link Aadhaar and PAN? We decode

Is today the last day to link Aadhaar and PAN? We decode

Fri, Jun 30, 2017

Linking Aadhaar becomes mandatory from July 1 but it will not make your PAN card invalid. Time period is expected to be given soon by the IT department.

Income Tax filing: Here's what you need to remember; Sahaj, Aadhaar, PAN

Income Tax filing: Here's what you need to remember; Sahaj,...

Tue, Jun 27, 2017

Quoting Aadhaar card for filing IT returns will become mandatory from July 1. Here's what you need to keep in mind

Cairn created maze of subsidiaries, taxed Rs 10,247 crore

Cairn created maze of subsidiaries, taxed Rs 10,247 crore

Sun, Jun 25, 2017

UK's Cairn Energy, which became the first company to face coercive recovery in retrospective tax action, had created a maze of subsidiaries in a span of just six months to transfer Indian assets, a

Income tax mop-up begins on strong footing, up 26.2% till date

Income tax mop-up begins on strong footing, up 26.2% till date

Fri, Jun 16, 2017

Among the metros, the Mumbai zone registered the highest revenue collection growth during the period with a growth of a whopping 138 per cent at Rs 22,884 crore from Rs 9,614 crore a year ago, sources at the income tax department here told PTI today.

Be prepared taxpayers; first installment of advance tax due tomorrow

Be prepared taxpayers; first installment of advance tax due tomor...

Wed, Jun 14, 2017

Advance Tax Payment has been given as an option by IT department to make payment of taxes in installment. Four dates are been provided and if a taxpayer does not make payment by end of March 2018, he or she will have to make 100% advance tax.

SBI changes service charges on various transactions; find out what they are

SBI changes service charges on various transactions; find out wh...

Wed, May 10, 2017

The bank said that now customers will be charged Rs 25 per transaction on every cash withdrawal from ATMs. The bank will also charge on issue of ATM cards except RuPay, henceforth.

Here are key highlights of Warren Buffett's address to Berkshire Hathaway's AGM

Here are key highlights of Warren Buffett's address to Berks...

Sun, May 07, 2017

Berkshire Hathaway co-founder and CEO Warren Buffett while addressing the company's Annual General Meeting on Saturday healthcare, trade, stock buybacks, investment in Apple and IBM, among others.

Green Car Plan: Niti Aayog recommends lowering taxes, interest rates for loans on electric vehicles

Green Car Plan: Niti Aayog recommends lowering taxes, interest ra...

Sun, May 07, 2017

Indian government's think tank Niti Aayog has recommended lowering taxes and interest rates for loans on electric vehicles, while capping sales of conventional cars, signalling a dramatic shift in policy in one of the world`s fastest growing auto markets.

10 days left to deposit under Pradhan Mantri Garib Kalyan Deposit Scheme; Follow these 3 steps

10 days left to deposit under Pradhan Mantri Garib Kalyan Deposit...

Thu, Apr 20, 2017

Launched on December 6, 2017, the PMGKDS was applicable to every declarant under the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana - the scheme closed on March 31.

Income Tax dept asks Cairn Energy to pay tax of Rs 10,247 crore

Income Tax dept asks Cairn Energy to pay tax of Rs 10,247 crore

Sun, Apr 09, 2017

The Income Tax Department had raised a tax demand of Rs 10,247 crore and another Rs 18,800 crore in interest for 10 years.

India's FY17 tax collection reaches Rs 17.10 lakh crore

India's FY17 tax collection reaches Rs 17.10 lakh crore

Tue, Apr 04, 2017

The ministry said, "As against the Revised Estimate, the provisional figure of tax collection is Rs 17.10 lakh crore, which is a growth of around 18% compared to last."

CBDT proposes norms for tax benefits for genuine equity deals

CBDT proposes norms for tax benefits for genuine equity deals

Tue, Apr 04, 2017

As per the Finance Act, 2017, the income arising by way of a transfer of long-term capital asset, being equity share in a company, will be exempt from tax if such transfer is undertaken after October 1, 2004 and chargeable to Securities Transaction Tax (STT).

PMGKY: CBDT says Form 1 can be filed by Apr 10, if deposit

PMGKY: CBDT says Form 1 can be filed by Apr 10, if deposit

Fri, Mar 31, 2017

"Representations have been received from various stakeholders regarding difficulties in uploading of declaration in Form No 1 under the Pradhan Mantri Garib Kalyan Yojna (PMGKY) scheme.

Income Tax Department to launch simplified e-filing of ITR form from April 1

Income Tax Department to launch simplified e-filing of ITR form f...

Wed, Mar 29, 2017

Income Tax Department will introduce simplified e-filing of Income Tax return form on April 1 this year which will do away with some columns while filing the the IT returns.

GST draft bills tabled in Parliament; peg peak rate at 40%

GST draft bills tabled in Parliament; peg peak rate at 40%

Tue, Mar 28, 2017

With this, rollout of GST - the biggest tax reform since independence - has entered the last lap and its passage by Parliament will pave the way for integrating India as one market with one rate of tax replacing multiple state and central levies.

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