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CBDT asks I-T department to issue swift refunds for arrears up to Rs 5,000

Jan 15, 2016

CBDT asks I-T department to issue swift refunds for arrears up to Rs 5,000

In another statement, CBDT said reducing litigation with the taxpayers has been a key focus area for the Income Tax Department. #Tax #Central Board of Direct Taxes #Income tax #Central Processing Centre #new trax cruiser deluxe
Trucker model can bea template to embrace presumptive tax with suitable interlocking mechanism for each industry

Jan 11, 2016

Trucker model can bea template to embrace presumptive tax with suitable interlocking mechanism for each industry

Private buses could be the next target or simultaneous target of the income tax people being the second most important segment of commercial vehicles population in the country #GDP #Israel #Income tax #trucker model #tax stickers
HC slams govt for 'shocking inaction' after officials fail to find out how foreigner was issued PAN card

Jan 05, 2016

HC slams govt for 'shocking inaction' after officials fail to find out how foreigner was issued PAN card

Taking serious note of a foreign national obtaining a PAN card by claiming to be an Indian citizen and using it to open two bank accounts, the Bombay High Court has summoned three senior Central government officials to appear before it #NewsTracker #Mumbai #Bombay High Court #HSBC Bank #PAN card fraud #Bombay Mercantile Bank #Sanjay Punmiya #Faisal Essa Yosuf #Foreign Regional Registration Office #Chief Commissioner of Income Tax
From January, consumers with annual taxable income over Rs 10 lakh won't get subsidised LPG

Dec 29, 2015

From January, consumers with annual taxable income over Rs 10 lakh won't get subsidised LPG

The subsidy saved from the 'GiveitUp' campaign is being utilised for providing new connections to the BPL families under the 'Giveback' campaign. #Economy #PolicyWatch #Income tax #LPG subsidy #Direct Benefit Transfer #GiveitUp campaign
From 2017 non-disclosure of foreign assets will be 'very risky affair', warns Jayant Sinha

Dec 03, 2015

From 2017 non-disclosure of foreign assets will be 'very risky affair', warns Jayant Sinha

Non-disclosure of overseas assets will become a "very risky affair" from 2017 as government will by then start getting information on them from foreign countries, Minister of State for Finance Jayant Sinha said today #CBDT #Income tax #Minister of State for Finance #Foreign Assets #Jayant Sinha
Pfizer-Allergan merger: How US gets a bitter taste of its own medicine

Nov 27, 2015

Pfizer-Allergan merger: How US gets a bitter taste of its own medicine

The US Congress is aghast at the Pfizer temerity, and is planning wholesome changes in its domicile or residential status rule. #Business #ConnectTheDots #Health #Tax #Income tax #corporate tax #Pfizer #Allergan
I-T dept launches PAN-based litigation management system

Nov 25, 2015

I-T dept launches PAN-based litigation management system

The tax department is on a spree to ensure more and more number of people and taxpayers in the country use the PAN card. #Economy #NewsTracker #Supreme Court #Income Tax Department #Income Tax Appellate Tribunal #PAN card #National Judicial Reference System
Roadmap revealed: Here's how govt plans to reduce corporate tax to 25%

Nov 21, 2015

Roadmap revealed: Here's how govt plans to reduce corporate tax to 25%

It proposes to do away with 100 per cent deduction of capital expenditure on incurred by specified businesses #CBDT #Arun Jaitley #corporate tax #Income Tax act #Amit Maheshwari