Tax

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Tax - Total results - 705
Leniency during COVID-19 is fine, but decriminalising Section 138 encourages financial crime, harms creditors' confidence and hurts economy
India

Leniency during COVID-19 is fine, but decriminalising Section 138 encourages financial crime, harms creditors' confidence and hurts economy

Decriminalising Section 138 is only going to make creditors more insecure, which could cause unfathomable harm to the Indian economy.

Income Tax Department issues refunds of Rs 26,242 cr since April to 16.84 lakh taxpayers; move to ease liquidity
Business

Income Tax Department issues refunds of Rs 26,242 cr since April to 16.84 lakh taxpayers; move to ease liquidity

The tax department on Friday said it has issued I-T refunds of Rs 26,242 crore to 16.84 lakh taxpayers since April as part of efforts to hasten refund process for making liquidity available with people and firms to deal with COVID-19 crisis

Trump to tax American companies manufacturing outside US; Apple's India production plan may be hit
Business

Trump to tax American companies manufacturing outside US; Apple's India production plan may be hit

President Donald Trump has threatened to slap new taxes on American companies like Apple to dissuade them from moving their manufacturing bases from China to countries like India and Ireland instead of the US amidst the COVID-19 pandemic

Kerala to hike IMFL prices steeply, to issue ordinance soon; govt eyes to gain extra revenue during lockdown
Business

Kerala to hike IMFL prices steeply, to issue ordinance soon; govt eyes to gain extra revenue during lockdown

At present, the sales tax on IMFL is 202 percent for brands priced up to Rs 400 and 212 percent for brands above that.

Max Financial Services settles Rs 123 cr tax dispute under Vivad se Vishwas scheme
Business

Max Financial Services settles Rs 123 cr tax dispute under Vivad se Vishwas scheme

Max Financial Services Ltd (MFSL) on Wednesday said it has settled a tax dispute involving over Rs 123 crore under the government's 'Direct Tax Vivad Se Vishwas' scheme

ClearTax launches ‘Power of 21’, e-learning course on GST, direct taxes
Business

ClearTax launches ‘Power of 21’, e-learning course on GST, direct taxes

In the wake of coronavirus lockdown, Cleartax, a Fintech Saas company, has launched a new e-learning course ‘Power of 21’. The course is designed to help CAs, SMEs, and tax professionals dive into the basics of GST and direct taxes and brush up their tax compliance skills

Income Tax Department asks taxpayers to guard against possible breach of their personal e-filing account
Business

Income Tax Department asks taxpayers to guard against possible breach of their personal e-filing account

The Income-Tax Department has asked taxpayers to guard against possible breach of their personal e-filing account and report such an instance to the police cybersecurity wing

Coronavirus Outbreak: Govt extends validity of lower withholding tax orders by three months till 30 June
Business

Coronavirus Outbreak: Govt extends validity of lower withholding tax orders by three months till 30 June

The Finance Ministry on Tuesday extended the validity of all lower withholding tax orders by three months till 30 June in view of hardships caused due to COVID-19 pandemic

Tax dept asks officers working from home to chase large taxpayers for dues over phone or email
Business

Tax dept asks officers working from home to chase large taxpayers for dues over phone or email

A three-month extension in deadlines for tax payment and filing of returns notwithstanding, the Income-Tax Department has asked field formations to contact large taxpayers over phone or email to follow up on pending collections

Coronavirus Outbreak: Tax reliefs announced by govt to cost 2-3% of GDP, say experts
Business

Coronavirus Outbreak: Tax reliefs announced by govt to cost 2-3% of GDP, say experts

Taxation experts have welcomed the measures announced by the government, saying these steps will add up to 2-3 percent of GDP but will go a long way in addressing the issue of liquidity and deferment of payment obligations

Income tax: Taxpayers should evaluate previous, latest slabs before finalising option; here's all you need to know about two regimes
Business

Income tax: Taxpayers should evaluate previous, latest slabs before finalising option; here's all you need to know about two regimes

Seven slabs have been introduced for personal income tax. The tax rates on income up to Rs 15 lakh have been reduced to benefit the Indian taxpayers.

Govt tables notifications on excise duty, road cess rise on petrol, diesel by Rs 3 per per litre
Business

Govt tables notifications on excise duty, road cess rise on petrol, diesel by Rs 3 per per litre

Minister of State for Finance Anurag Singh Thakur on Monday tabled three notifications relating to increase in excise duty and road cess on petrol and diesel by Rs 3 per per litre, amidst uproar by opposition in Lok Sabha

Wealth tax, STT, CTT disputes kept out of Vivad Se Vishwas amnesty scheme; govt issues detailed FAQ
Business

Wealth tax, STT, CTT disputes kept out of Vivad Se Vishwas amnesty scheme; govt issues detailed FAQ

Disputes relating to wealth, securities transaction, commodity transaction taxes and equalisation levy will not be covered under 'Vivad Se Vishwas' amnesty scheme

Govt collects Rs 7.52 lakh cr direct tax in April-January; revised estimate pegs revenue receipts at Rs 18.50 lakh cr for this fiscal
Business

Govt collects Rs 7.52 lakh cr direct tax in April-January; revised estimate pegs revenue receipts at Rs 18.50 lakh cr for this fiscal

The Revised Estimate (RE) has pegged the target for collection of direct taxes for the current fiscal, which ends on 31 March, at Rs 11.70 lakh crore.

Vivaad Se Vishwas scheme to help save time, money in fighting tax disputes, says Finance Minister Nirmala Sitharaman
Business

Vivaad Se Vishwas scheme to help save time, money in fighting tax disputes, says Finance Minister Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Monday said the direct tax dispute resolution scheme announced in Budget will be of great help to people as they will be able to save time and money spent in fighting cases

With revenues falling, taxman rakes up three-year-old demonetisation cases; about 15,000 jewellers sent tax demands
Business

With revenues falling, taxman rakes up three-year-old demonetisation cases; about 15,000 jewellers sent tax demands

Tax authorities are within the rights to demand tax on past revenue, which takes time to scrutinise, but it is highly unusual for officials to demand the entire revenue as tax.

Advisory Council of 15th Finance Commission to meet today; first meeting after submission of report for 2020-21
Business

Advisory Council of 15th Finance Commission to meet today; first meeting after submission of report for 2020-21

The Commission is going ahead with the work related to drafting the recommendations for the five years spanning 2021-22 to 2025-26

Mutual fund industry body seeks clarification from tax authorities on removal of DDT, TDS introduction
Business

Mutual fund industry body seeks clarification from tax authorities on removal of DDT, TDS introduction

Industry body AMFI has sought clarification from relevant tax authorities with regard to the government's plan to scrap dividend distribution tax (DDT) on mutual funds and introduction of tax deducted at source on the income distributed by such products, fund managers and officials have said

Middle class people 'trained enough' to pick right income tax option: NITI Aayog vice-chairman Rajiv Kumar
Business

Middle class people 'trained enough' to pick right income tax option: NITI Aayog vice-chairman Rajiv Kumar

NITI Aayog Vice Chairman Rajiv Kumar on Wednesday said the middle class is "trained enough" to decide which personal income tax option is good for them and exuded confidence that their propensity to save will not come down