Government asks top taxmen to ideate for widening tax base

Last Updated: Sunday, June 14, 2015, 13:08

The unique move comes in the backdrop of the government recently asking the I-T department to take urgent steps to widen the tax base and add at least 25 lakh new assesses every month during the current financial year 2015-16.

States inching towards GST, says K M Mani

Last Updated: Friday, June 5, 2015, 13:36

The Committee is in the process of discussing and arriving at consensus on large number of issues of GST, he said.

Black money: Keep foreign info strictly secret, CBDT tells I-T

Last Updated: Wednesday, June 3, 2015, 21:18

CBDT has issued fresh instructions to the taxman to ensure that information on individuals holding black money abroad is strictly kept secret as any "careless" act could give an excuse to the data supplying country for not helping India in the future.

Service Tax: Penalty norms encouraging voluntary compliance

Last Updated: Wednesday, June 3, 2015, 18:29

In case of voluntary payments along with interest, reduced penalty have been provided depending upon the stage of litigation i.e. Prior to issuance of show cause notice, after issuance of show cause notice but before adjudication or after adjudication.

States not in favour of uniform tax on wheat/rice: Food Ministry

Last Updated: Sunday, May 31, 2015, 11:38

"We have discussed the matter with state governments. They have not agreed on uniform taxation. So, it is not possible to implement this recommendation of the panel," a senior Food Ministry official told PTI.

India remains at 44 in IMD global competitiveness rankings

Last Updated: Thursday, May 28, 2015, 18:20

India remains at 44th rank in the annual global competitiveness report by a Switzerland-based business school which cited problems like high corporate taxes and existence of a parallel economy for the low ranking.

Amazon starts declaring sales to pay taxes in 4 European countries

Last Updated: Tuesday, May 26, 2015, 17:09

Amazon has tax agreements in Luxembourg under which it recorded European sales and paid taxes on them in the tiny country instead of at the source.

Squeeze parallel economy in a fair manner: FM to taxmen

Last Updated: Monday, May 25, 2015, 13:00

Jaitley further said that improvement in tax collection will increase the ability of the government to step up spending on social and infrastructure projects.

We expect a growth of 14-15% in direct tax collections: FM Jaitley

Last Updated: Monday, May 25, 2015, 11:23

While addressing the conference he said that we have to bring tax rate at global level while t the same time removing the exemptions.

CBDT effects changes; Chairperson divests investigation charge

Last Updated: Tuesday, May 19, 2015, 19:38

The CBDT has effected an in-house change of charges with Chairperson Anita Kapur divesting the additional charge of investigations to another Member in the board.

Rs 4,733 cr collected in taxes via Non-filer Monitoring System

Last Updated: Friday, May 8, 2015, 17:25

Government has collected Rs 4733.61 crore in taxes since 2013 through Non-filer Monitoring System that tracks large value financial transactions, including via credit cards.

Investors dump Indian stocks for China, South Korea and Taiwan

Last Updated: Friday, May 8, 2015, 12:07

Portfolio funds have been gripped by concerns over retrospective taxes and the slow pace of land acquisition reforms that have held up $300 billion worth of corporate investments.