Govt rejects Cairn's arbitration on tax dispute

Last Updated: Sunday, June 28, 2015, 11:28

The government has rejected Cairn Energy UK's plea for an arbitration over Rs 10,247-crore tax dispute saying taxation is not covered under the UK-India Investment Promotion and Protection Treaty.

I-T dept to defend Rs 20,495-cr tax claim on Cairn India

Last Updated: Tuesday, June 16, 2015, 17:50

The Income Tax Department will defend the Rs 20,495-crore tax claim it has made on Cairn India even after the company is merged with its parent Vedanta Ltd.

IT raids against Chettinad Group of companies

Last Updated: Wednesday, June 10, 2015, 11:47

The group's Chairman Emeritus M A M Ramaswamy had yesterday declared that he has disowned his son M A M R Muthiah whom he adopted in 1996.

FIIs' books for past 6 years can be scrutinized by I-T Dept

Last Updated: Wednesday, April 29, 2015, 18:56

The Income Tax Department can reopen books of past six years of foreign investors who are liable to pay Minimum Alternate Tax, sources said.

I-T dept publishes list of big tax defaulters in newspapers

Last Updated: Sunday, April 26, 2015, 13:42

As part of its strategy of 'naming and shaming' big defaulters, the Income Tax department on Sunday published names of 31 tax evaders who owe over Rs 1,500 crore tax to the government.

Postal Dept incurs loss of Rs 7 a postcard, Rs 5 inland letter

Last Updated: Sunday, April 5, 2015, 11:11

The Department of Posts is incurring a loss of over Rs 7 per postcard and about Rs 5 per inland letter as the revenue earned is far lower than the actual cost.

Electronics dept for steps in Budget to revive Nokia plant

Last Updated: Thursday, February 19, 2015, 22:06

In a bid to improve investor sentiment, the electronics department has suggested to Finance Minister Arun Jaitley that some measures be taken to revive the Nokia plant in Chennai.

MNCs may have to disclose details of HQ ops to I-T dept

Last Updated: Monday, February 2, 2015, 17:23

Multinational companies operating in India will soon have to disclose details of their operations at the country of residence and their revenue income to the Income Tax authorities.

Don't coerce assessee to falsely admit income: CBDT to I-T dept

Last Updated: Friday, December 19, 2014, 19:29

Taking cognizance of a number of complaints from assessees who said they were "coerced" by I-T officials to admit having black money, the CBDT has issued a stern warning to the taxmen asking them to "strictly avoid" indulging in acts which later embarrass the entire department.

Pharmaceuticals dept considering price monitoring cells

Last Updated: Tuesday, December 2, 2014, 15:35

The Department of Pharmaceuticals is considering setting up price monitoring cells in all states to provide technical assistance to drug controllers and the National Pharmaceutical Pricing Authority (NPPA).

Income Tax department eyes foreign gold buyers

Last Updated: Sunday, January 19, 2014, 11:01

Financial details of Indians bringing in gold from abroad after duty payment will be shared by customs authorities with Income Tax department to check suspicious ferrying of the yellow metal into the country.