Online taxpayers may not need to send papers to CPC in B'lore

Last Updated: Friday, June 21, 2013, 19:34

Millions of taxpayers filing returns online may no longer have to send paper documents to the central processing unit here, with CBDT proposing to introduce electronic verification for such filings, a top official said.

ITC may not qualify for Kolkata LTU facility

Last Updated: Tuesday, May 7, 2013, 23:00

Cigarette to diversified conglomerate, ITC Ltd, may not qualify for entry into the proposed Large Taxpayers Unit (LTU) here for association with tobacco.

UK taxpayers to pay six million pounds on hate cleric Qatada

Last Updated: Sunday, January 27, 2013, 17:06

British taxpayers may have to cough up a whopping six million pounds this year to pay the bills of radical cleric Abu Qatada.

Nearly 29,000 tax defaulters owe Rs 3,770 cr to govt

Last Updated: Monday, October 8, 2012, 22:00

Tax defaults by nearly 29,000 taxpayers aggregate to Rs 3,770 crore, according to a tax department's analysis of e-returns filed in 2012-13.

'Advance pricing agreement to provide clarity about tax'

Last Updated: Thursday, September 27, 2012, 22:45

The introduction of advance pricing agreement (APA) regime would provide clarity to the taxpayers, a senior government official said Thursday.

Govt expands scope of GAAR panel to cover all non-residents

Last Updated: Saturday, September 1, 2012, 14:55

The government on Saturday expanded the scope of the expert committee on General Anti-Avoidance Rules (GAAR) to include all non-resident tax payers, even as the Committee submitted its draft report to the Ministry.

IT Dept announces mascot contest; Rs 1L cash prize

Last Updated: Wednesday, August 29, 2012, 18:45

The Income Tax department has announced a mascot contest for the public that would carry a cash reward of Rs one lakh for the winning entry.

Taxpayer has right to know how his money is spent: CAG

Last Updated: Wednesday, March 28, 2012, 22:50

The Government auditor CAG Wednesday sought more powers for the constitutional body and said the common man has all the right to know how his tax money is being spent.

Billionaire Buffett defends proposed tax rate change

Last Updated: Thursday, January 26, 2012, 09:38

Increasing taxes on the wealthy would bring fairness to U.S. taxpayers across the board, billionaire investor Warren Buffett said on Wednesday, backing the tax reform that President Barack Obama proposed in his State of the Union address.

US charges 3 Swiss bankers in tax evasion case

Last Updated: Wednesday, January 4, 2012, 09:53

Prosecutors accused three Swiss bankers on Tuesday of conspiring with wealthy US taxpayers to hide more than USD 1.2 billion in assets from tax authorities, and sources briefed on the matter said the three worked for Wegelin & Co, one of Switzerland's oldest private banks.

HSBC India unit client charged with US tax evasion

Last Updated: Friday, November 18, 2011, 13:03

A San Jose, California, man faces charges of tax evasion after failing to report USD 1.3 million in interest income from HSBC Holdings Plc's India unit, US prosecutors said on Thursday.

Swiss, US close to tax deal: reports

Last Updated: Saturday, September 17, 2011, 18:40

Switzerland and the United States were Saturday close to a deal to end a tax evasion dispute over undeclared assets held by US taxpayers in Swiss banks, local media reported.