Swiss banks moving 'full speed' on automatic tax info exchange

Last Updated: Thursday, September 3, 2015, 18:50

Swiss banks are working at "full speed" to implement the automatic tax information exchange regime that will help India's efforts to crackdown on illegal wealth stashed by its citizens in Switzerland.

CBDT asks officials not to pursue pending MAT cases

Last Updated: Thursday, September 3, 2015, 12:43

Days after the government decided to exempt foreign funds from tax on profits earned before April 1, the CBDT on Thursday issued a circular asking its fields officers to keep in abeyance pending assessments and not to recover any outstanding demand.

'Decision to scrap MAT will boost India's investment position'

Last Updated: Wednesday, September 2, 2015, 20:09

Industry body CII Wednesday said the government's announcement that minimum alternate tax will not be imposed on overseas portfolio investors retrospectively will boost India's position as a favourable investment destination, help reduce litigation and resolve disputes.

Sensex plunges 243 points to 13-month low as China concerns outweigh MAT relief

Last Updated: Wednesday, September 2, 2015, 17:43

The 50-share Nifty after recapturing the 7,800-mark in early trade to touch a high of 7,862.55, succumbed to selling pressure and cracked the 7,700-level to a low of 7,699.25 before settling at 68.85 points or 0.88 per cent lower at 7,717.00.

Last date for e-filing of I-T return extended to Sept 7

Last Updated: Wednesday, September 2, 2015, 17:16

The government on Wednesday extended the last date for e-filing of Income Tax return by a week to September 7.

Ind-Ra assigns 'IND AAA' rating to NHAI's tax-free bonds

Last Updated: Wednesday, September 2, 2015, 16:06

India Ratings and Research (Ind-Ra) has assigned NHAI's proposed Rs 24,000 crore tax-free bonds a long-term 'IND AAA' rating with stable outlook on the back of statutory status and financial as well as other linkages from the government.

USIBC applauds ruling on minimum alternative tax

Last Updated: Wednesday, September 2, 2015, 08:33

This decision reduces tax uncertainty for FIIs and will result in increased investment into India, the USIBC said in a statement.

Govt accepts Shah panel report, says no retrospective tax on FIIs

Last Updated: Tuesday, September 1, 2015, 22:56

The government has decided to amend the Income Tax Act to clarify the issue with regard to levy of MAT on FIIs and in the meantime CBDT field officers will be asked not to pursue cases against FIIs.

No retrospective tax on FIIs; govt accepts Shah panel report

Last Updated: Tuesday, September 1, 2015, 20:21

In a big relief to FIIs, the government on Tuesday accepted recommendation of a high level panel that minimum alternate tax (MAT) should not be imposed on overseas portfolio investors retrospectively.

Govt accepts Shah Panel report, no retrospective tax on FIIs

Last Updated: Tuesday, September 1, 2015, 20:03

The government has accepted the Justice A P Shah panel report which recommends non-applicability of Minimum Alternate Tax (MAT) on FIIs, Finance Minister Arun Jaitley said on Tuesday.

CBDT to soon issue instructions on MAT issue

Last Updated: Tuesday, September 1, 2015, 19:25

With the Justice A P Shah panel recommending non-applicability of Minimum Alternate Tax (MAT) on FIIs, the revenue department is likely to soon issue instructions to field officer not to pursue pending cases against foreign institutional investors.

Bad elements in tax dept to be dealt with: Revenue secy

Last Updated: Tuesday, September 1, 2015, 15:30

Promising just and fair decision in all tax matters, the new Revenue Secretary Hasmukh Adhia today said "bad elements" in the tax department will be identified and "taken care of" so that they don't spoil the investment climate.