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
Widening of tax base: E-commerce business on I-T radar
The Income Tax department has trained its scanner on the burgeoning 'e-commerce' business in the country with the taxman deciding to monitor a host of services conducted by these popular online portals to better fill up the revenue kitty.
May 26, 2015, 18:31 PM IST
Shah Committee on MAT dues on FIIs holds first meeting
The high-level Justice Shah committee on levy of MAT on FIIs today met for the first time as it looked to expeditiously give its recommendations to resolve the contentious issue that has riled investors.
May 25, 2015, 18:34 PM IST
I-T to scan tier-II cities to bring more people in tax net
The Income Tax department has decided to use technical intelligence and pay special focus on tier-II cities like Jaipur, Surat and Lucknow among others, to bring more and more people living in these "progressive" cities under the tax net.
May 24, 2015, 18:05 PM IST
Simplified ITR forms to be notified by next week
The Finance Ministry will come out with simplified Income Tax Return (ITR) forms by the next week, replacing the controversial ones that have been put on hold.
May 22, 2015, 15:53 PM IST
Draft norms for 'Range Concept' in transfer pricing released
The tax department Thursday came out with draft norms for introduction of 'range concept' for calculating Arm's Length Price for valuing transactions between related entities for the purpose of taxation.
May 21, 2015, 21:17 PM IST
MAT: Former CEA Ashok Lahiri named member of Shah Committee
Former Chief Economic Adviser Ashok Lahiri named as a member of Justice A P Shah Committee that will look into MAT dues on FIIs.
May 20, 2015, 20:55 PM IST
