Breather for IT cos: CBDT withdraws a controversial circular

Last Updated: Saturday, June 29, 2013, 19:02

The decisions were taken following representation from the industry for greater clarity on two circulars concerning international taxation or transfer pricing.

Difficult to recover 97% of Rs 4.82 lakh cr tax arrears: CBDT

Last Updated: Sunday, June 23, 2013, 13:41

The total arrears amount to be recovered, stuck because of a variety of reasons like litigation, companies in liquidation, sick companies and untraceable taxpayers, is Rs 4.82 lakh crore.

Current taxpayers number too small: CBDT chief

Last Updated: Monday, June 17, 2013, 17:35

The current number of people who pay taxes in the country is "too small" and the Income Tax department will focus on non-filers and stop-filers to increase government's revenue collection, newly appointed CBDT chairperson Sudha Sharma told her officers Monday.

CBDT informs Vodafone on agreeing to non-binding conciliation

Last Updated: Sunday, June 16, 2013, 14:23

The Central Board of Direct Taxes (CBDT) has formally written to British telecom major Vodafone, agreeing to enter into a non-binding conciliation to resolve the long-standing tax dispute.

Changes in DTC bill to be tabled in Monsoon Session: FM

Last Updated: Thursday, June 6, 2013, 22:46

The government will introduce changes to the Direct Taxes Code (DTC) bill that would integrate its various versions, in the forthcoming Monsoon Session, Finance Minister P Chidambaram said here Thursday.

FM regrets not being able to get legislations passed

Last Updated: Wednesday, May 29, 2013, 20:59

"There are very significant differences but on essentials of building an open and liberal economy, I believe there is no great difference between two major political parties in India," Chidambaram said.

Target non-filers, stop-filers: FM to tax officials

Last Updated: Tuesday, May 28, 2013, 23:38

"Tax officials should target non-filers and stop-filers to widen the tax base and tax collections," he said while addressing top officials of the Central Board of Direct Taxes (CBDT) here.

Govt seeks information from 70,000 high priority IT assessees

Last Updated: Tuesday, May 21, 2013, 14:52

The government plans to collect over Rs 6.68 lakh crore from direct taxes in the current fiscal, up from Rs 5.65 lakh crore in the previous fiscal.

Govt will step up efforts to bring more people into tax net: FM

Last Updated: Thursday, May 2, 2013, 16:08

In a strong message to tax evaders, the government on Thursday said that it will step up efforts to bring more people into net and also endeavour to recover tax arrears.

I-T to initiate action against big TDS defaulters

Last Updated: Sunday, March 10, 2013, 09:07

The Income Tax department has decided to crack the whip on big companies and organisations that do not remit TDS money even after deducting it from their workers' salaries.

Taxes will be collected in just and fair manner: FinMin

Last Updated: Tuesday, February 5, 2013, 16:48

Finance Ministry on Tuesday assured taxpayers that efforts would be made to end hostile relationships between officials and assessees and collect revenue in a "just and fair manner".

Govt to come out with modified DTC Bill: Shome

Last Updated: Thursday, January 31, 2013, 15:56

The government will come up with a modified Direct Taxes Code (DTC) Bill after incorporating the suggestions of the Standing Committee on Finance, which among things had suggested raising annual income tax exemption limit to Rs 3 lakh.