Panama Papers: Over Rs 8,000 cr black money brought under tax ambit
A whopping Rs 8,186 crore, illegally kept in offshore banks by Indians, has been brought under the tax ambit despite constraints like non-sharing of information by Swiss authorities, the Centre told the Supreme Court Monday.
Oct 03, 2016, 21:03 PM IST
GST training: Govt faces steep climb as deadline nears
Already running against time on GST, the revenue department will have a tough time in training 60,000 field officials for its implementation from April 1 as it has provided requisite skills to only 3,074 personnel.
Oct 02, 2016, 11:31 AM IST
Black money disclosure window: Unaccounted wealth can be declared till today
Today is the last day for making declaration of unaccounted wealth under the Income Disclosure Scheme and declarations can be made online as well as in printed copies in prescribed form till Friday (Sept 30) midnight.
Sep 30, 2016, 08:45 AM IST
Black money: IDS counters to be opened till 8 pm today, tomorrow
With two days remaining for the black money disclosure scheme to close, the tax department has decided to keep counters for receiving physical declarations open till 8 pm today (Wednesday) and tomorrow (Thursday).
Sep 28, 2016, 18:12 PM IST
Black money disclosure window offers no absolution, to yield little cash for govt
As the four-month campaign draws to a close this week, there looks to be few takers despite a high-profile warning that this is the last chance for tax dodgers to come clean.
Sep 28, 2016, 09:47 AM IST
Black money disclosure scheme: IDS counters to remain open till mid-night on Sept 30
People with undisclosed assets can escape prosecution by coming clean under the Income Disclosure Scheme (IDS).
Sep 27, 2016, 11:15 AM IST
GST: Tax department unveils draft rules for registration, invoice and payments
In less than a week after the first meeting of the GST Council, the tax department came out with three draft rules and their formats relating to registration, invoice and payments which would be finalised by week-end.
Sep 26, 2016, 17:47 PM IST
GST: Life insurers want exemption; general differential rates
As the GST rollout plans gathers momentum, life insurers sought exemption from the new taxation regime on premium income, while general insurers have demanded differential rates for their products.
Sep 25, 2016, 14:45 PM IST
GST: Centre, states agree on timetable for April 1, 2017 roll out
Moving towards rolling out GST from April 1, Centre and states on Thursday agreed on a timetable for deciding on the tax rate and completion of legislative work but differences remained on the turnover limit for exemption from the new tax.
Sep 22, 2016, 20:58 PM IST
Honouring honest taxpayers to help change people's attitude: Arun Jaitley
Finance Minister Arun Jaitley Monday said paying taxes in due time is the responsibility of every citizen and honouring honest taxpayers would bring in much needed change in people's attitude regarding tax payment.
Sep 19, 2016, 20:59 PM IST
Apple tax row raises $2.1 trillion question for FX traders
If the fallout from a huge EU tax bill handed to Apple includes a push to encourage U.S. firms to bring more profits onshore, recent history suggests the impact for the dollar can only be positive.
Sep 16, 2016, 01:32 AM IST
I-T asks declarants to hurry as blackmoney window nears end
The Income Tax department on Saturday said those holding potential black money should hurry up and declare their stash funds under the one-time domestic compliance window as only 20 days are left for the Income Declaration Scheme (IDS) to close.
Sep 10, 2016, 18:48 PM IST
G20 leaders vow to continue support for global tax cooperation
India, China, the US and other G20 leaders today pledged to continue supporting international tax co-operation to achieve globally fair and modern international tax system, foster growth and refrain from competitive devaluation of currencies.
Sep 05, 2016, 21:43 PM IST
Full Text: Tim Cook writes to Europe on Apple's 13 euro billion tax fine
Global tech giant Apple Inc was on Tuesday ordered by the European Union to pay a record penalty of 13 euro billion in taxes to Ireland.
Aug 30, 2016, 22:34 PM IST
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
