New Delhi: Taxpayers account for just about one percent of India’s population, but tax outgo was over Rs 1 crore for as many as 5,430 individuals, as per the latest data disclosed by the government
In a setback to mining mogul Anil Agarwal, the government today said it will not allow him to merge subsidiary Cairn India with his flagship firm Vedanta Ltd unless the Rs 10,247 crore tax issue is settled.
New Delhi: Amid reports of some Indians having unaccounted wealth in tax havens, Finance Minister Arun Jaitley today said those who did not take advantage of the compliance window last year to declare illegal assets
New Delhi: Total indirect tax collection has surpassed the revised estimate target of Rs 7.04 lakh crore for 2015-16, a senior finance ministry official said on Saturday. "The final figures are still not known, because
Riyadh: Promising easier business environment for global investors, Prime Minister Narendra Modi today said retrospective taxation has been relegated to history, but he is “not able to do anything” on two pending cases from the
New Delhi: Expressing its dismay over the union budget 2016-17 proposal to tax withdrawals from the Employees' Provident Fund (EPF) contributions, industry chamber FICCI today said it was, nevertheless, encouraged by the reports that Finance
New Delhi: Under all-round attack following its Budget proposal to tax 60 per cent of withdrawals from provident fund and a ceiling on employers contribution, the government today promised to consider demands for a rollback of
Patna: The Nitish Kumar government today decided to impose 13.5 per cent tax on luxury items including on sweets priced more than Rs 500 a kg and mosquito repellant among others to mop up additional
New Delhi: Aiming to reduce the compliance burden, revenue department today said appeals before Income Tax Commissioner should be filed in electronic format by those assessees who e-file their returns.Electronic filing of appeals along with
New Delhi: In yet another directive aimed at enhancing taxpayer services, the Income Tax department has asked its customer care centres to effectively monitor email-based complaints of assesses and diligently send them to tax officers.The
Singapore: Finance Minister Arun Jaitley on Friday said only about 2-3 legacy tax issues are left which he hoped will be "put to sleep" over the next couple of months."The entire emphasis on the taxation
New Delhi: The Finance Ministry today said a steady 37 per cent growth in indirect tax collections in four months to July reflects that underlying momentum in the economy is improving.“These collections indicate that the
Chennai: HDFC Bank on Tuesday said it closed the first quarter of the current fiscal with 20.7 percent growth in its net profit.In a statement here, the bank said its after tax profit for the quarter
Addis Ababa: India has pitched for a global tax regime built into the UN process, rather than being looked at from the point of view of rich countries, in a bid to curb illegal financial
New Delhi: Watching movies and television will be dearer in the national capital from Monday with the Aam Aadmi Party government issuing a notification of an increase in entertainment tax.The proposal to increase entertainment tax
New Delhi: The Finance Ministry on Wednesday asked taxpayers to file their I-T returns for 2015-16 early to avoid the rush towards the last date of August 31.The tax department, yesterday, made fully operational its
New Delhi: Congress has decided to press for five changes in the Goods and Services Tax (GST) Bill, which the Centre proposes to roll out from April 2016. Sources in Congress said that the party will press
New Delhi: With the new Income Tax Return (ITR) forms being recently notified for assessment year 2015-16, filers can do an easy check of their annual tax liability on a new computer-based ‘calculator' launched by
New Delhi: The Income Tax department has notified the new set of ITR forms, including a three-page simplified one, for taxpayers to file their returns for assessment year 2015-16.With the finance ministry publishing the gazette
New Delhi: The Government on Monday proposed income tax benefits for people making payments through credit or debit cards and doing away with transaction charges on purchase of petrol, gas and rail tickets with plastic
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