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.
GST on the hot plate again: Why a parotta is not a roti, a chapatti or a khakhra for that matter when it comes to economy
The simplest way to get rid of such problems is to have fewer and lower GST rates.
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
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
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 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
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
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
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
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
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
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.
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
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
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
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
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
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
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
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