Germany eyes modest tax cut next year

Last Updated: Friday, May 8, 2015, 00:04

Germany`s finance minister said Thursday he would cut taxes from next year after experts forecast a nearly 40-billion-euro ($45-billion) tax windfall for Europe`s top economy over the next five years.

Govt to study HC stay order on MAT levy on FIIs

Last Updated: Tuesday, May 5, 2015, 22:33

With a foreign fund house getting a court stay on the controversial MAT levy, the tax department Tuesday said it will study the Bombay High Court order before taking a view on the matter.

Central excise arrears rise to Rs 59,309 cr in FY'14: CAG

Last Updated: Tuesday, May 5, 2015, 14:54

Tax arrears towards central excise rose to Rs 59,309 crore in 2013-14, from Rs 45,463 crore a year ago, government auditor CAG said on Tuesday.

I-T dept collects Rs 6.96 lakh cr revenue during 2014-15

Last Updated: Sunday, May 3, 2015, 15:59

The achieved collections are about Rs 9,000 crore or 14 percent short of the projected target of Rs 7,05,000 crore.

Govt should have clarified on past MAT dues on FIIs: Experts

Last Updated: Friday, May 1, 2015, 17:28

Finance Minister Arun Jaitley's announcement of MAT exemption on certain incomes of foreign firms was a relief but the government should have clarified on the tax treaty benefits for past dues, tax experts said on Friday.

British tax authority faces legal challenge on stance over HSBC

Last Updated: Friday, May 1, 2015, 13:02

A campaign group has begun a legal process that could lead to Britain`s tax authority facing a judicial review over its failure to take a tougher line with people alleged to have used accounts with an HSBC unit in Switzerland to evade tax.

Tax dues from companies at Rs 4.85 lakh crore: Finance Ministry

Last Updated: Tuesday, April 28, 2015, 15:43

Corporates owed over Rs 4.85 lakh crore approximately to the exchequer as outstanding tax demands, under direct and indirect taxes, towards the end of fiscal 2014-15, Parliament was informed on Tuesday .

CBDT to settle foreign funds' claims within a month

Last Updated: Monday, April 27, 2015, 19:06

The Income Tax department has directed its officers that cases of foreign institutional investors (FIIs) seeking tax exmption under the Double Taxation Avoidance Agreements (DTAAs) with other countries must be decided within a month of claim filing.

All MAT tax claims under DTAA to be settled in a month

Last Updated: Monday, April 27, 2015, 14:39

Central Board of Direct Taxes will settle all minimum alternate tax (MAT) matters of FIIs coming under the ambit of Double Taxation Avoidance Agreements within a month of filing of claims.

Don't abandon Dirext Taxes Code: Parl panel to Govt

Last Updated: Friday, April 24, 2015, 19:18

Asking the government not to abandon the Direct Taxes Code (DTC), a Parliamentary panel on Friday said this new law needs to be enacted to replace the existing Income Tax Act, which it said was "very cumbersome" and prone to avoidable litigation.

Govt meets FIIs on tax issues, offers DTAA relief to MAT-hit investors

Last Updated: Wednesday, April 22, 2015, 17:42

In a relief to foreign investors slapped with Rs 40,000 crore tax demands, the government Wednesday said such levies would not be applicable to the entities based in countries having double taxation avoidance pacts with India, while others can approach the courts for reprieve.