Now EPIC or Aadhaar document enough to get PAN card

Last Updated: Monday, April 20, 2015, 17:41

An EPIC or Aadhaar document will now be enough for any individual to obtain PAN card as the Income Tax Department has relaxed the cumbersome procedure of having multiple documents to prove one's own identity.

FM Jaitley pitches for low taxes, taxpayers as 'partners not hostages'

Last Updated: Friday, April 17, 2015, 13:55

Jaitley said he is "acutely aware" that there are concerns about retrospective taxation, tax harassment and arbitrariness in tax administration, especially those relating to cases of transfer pricing.

India to have more modern, friendly tax regime: Jaitley

Last Updated: Friday, April 17, 2015, 03:52

Having initiated a series of administration and legislative reforms, India is on its way to have a more modern and friendly tax system, Union Finance Minister Arun Jaitley has said.

Indian government signals it won't intervene for now in foreign tax row

Last Updated: Friday, April 17, 2015, 02:02

Foreign investors should not look to the Indian government for now to provide relief from a ruling requiring them to pay taxes on years of previously untaxed capital gains, Indian Finance Minister Arun Jaitley said on Thursday.

Rollover of MFs beyond 36 months not capital gains: CBDT

Last Updated: Sunday, April 12, 2015, 13:21

In a major relief to investors, the rollover of mutual fund Fixed Maturity Plans (FMP) beyond 36 months will not attract capital gains.

CBEC to set up Directorate of Taxpayer Services

Last Updated: Sunday, April 5, 2015, 13:47

The CBEC is celebrating 2015 as the Year of Taxpayer Services in "recognition of the need to have 'customer focus' in our day-to-day functioning".

Swiss bank BSI fined $211 mn in US tax evasion case

Last Updated: Monday, March 30, 2015, 23:53

Swiss Bank BSI will pay a $211 million penalty after acknowledging it helped clients create sham identities to evade US taxes, the Justice Department announced Monday.

Italy prosecutors wrap up tax probe into Apple: Sources

Last Updated: Tuesday, March 24, 2015, 08:51

Italian prosecutors have wrapped up an investigation into allegations U.S. tech giant Apple failed to pay corporate taxes to the tune of 879 million euros ($964 million), two sources said on Monday.

Corporate tax arrears at over Rs 3.11 lakh crore as of Dec 2014

Last Updated: Friday, March 20, 2015, 19:29

Tax arrears from corporate houses stood at over Rs 3.11 lakh crore till December 2014, Parliament was informed on Friday.

India has historic chance to grow, don't obstruct: FM Jaitley to Opposition

Last Updated: Tuesday, March 17, 2015, 16:36

With a number of key reforms bills stuck, government on Tuesday appealed to the opposition not to play "obstructionist" as the country has the "historic opportunity" to grow and the GDP is expected to go beyond 8 percent next year, overtaking China.

Bihar, Assam, Tripura may lose share in central taxes

Last Updated: Monday, March 9, 2015, 16:33

States like Bihar, Assam, Tripura and Uttarakhand may witness decline in their share in union taxes, following implementation of recommendations of the Fourteenth Finance Commission (FFC) though the constitutional body has raised the overall share of states by 10 percent to 42 percent.

Acting against tax evasion is not tax terrorism: CBDT chief

Last Updated: Wednesday, March 4, 2015, 21:16

Promising to move "two steps" forward to clear the perception of 'tax terrorism', the Tax Department Wednesday said the taxpayers also need to take 'two steps' to ensure their compliance with laws.