Last Updated: Tuesday, September 1, 2015, 19:25
With the Justice A P Shah panel recommending non-applicability of Minimum Alternate Tax (MAT) on FIIs, the revenue department is likely to soon issue instructions to field officer not to pursue pending cases against foreign institutional investors.
Last Updated: Tuesday, August 4, 2015, 22:07
Holding out no assurance of an absolute confidentiality to those disclosing foreign assets on their own, the government Tuesday said details of information provided during the one-time compliance window can be revealed in the public interest.
Last Updated: Friday, July 31, 2015, 19:00
The government has detected an undisclosed income of Rs 1,761.09 crore while it seized Rs 75.37 crore in a total of 41 searches till June this fiscal, Parliament was informed Friday.
Last Updated: Thursday, July 30, 2015, 19:54
Just 17 individuals have a whopping Rs 2.14 lakh crore as outstanding tax arrears, with each of them owing more than Rs 1,000 crore.
Last Updated: Wednesday, June 24, 2015, 15:54
Seeking to allay concerns of taxpayers, CBDT has asked them not to get terrorised by threats of their cases being wilfully chosen for "scrutiny" by the taxman as the procedure is fully electronic and devoid of any human intervention.
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.
Last Updated: Monday, April 13, 2015, 16:30
Besides, Reliance Capital Asset Management Company, in December last year, had got the government's approval for first-ever equity-oriented pension scheme, giving tax benefits to investors.
Last Updated: Thursday, March 5, 2015, 17:26
The GST roll out will prove to be a revolutionary step and has potential to transform the "fiscal architecture" of the government, Minister of State for Finance Jayant Sinha said today.
Last Updated: Thursday, March 5, 2015, 16:17
The government is confident of rolling out the much-awaited Goods and Services Tax (GST), which aims at creating a single tax for goods and services across the country, from April 1, 2016, a top finance ministry official said.
Last Updated: Friday, January 23, 2015, 19:34
Government is mulling to broaden the definition of "Predicate Offences" on the lines of nations like Australia, Cananda and the US to bring the offence of tax evasion under its ambit, the Supreme Court has been informed.
Last Updated: Friday, December 5, 2014, 22:43
Tamil Nadu Government Friday blamed the Congress-led UPA and its ally DMK for the closure of Nokia's manufacturing plant near here by making a Rs 2,080 crore tax demand.
Last Updated: Thursday, July 4, 2013, 14:15
The code, which will replace the existing Income Tax Act 1961, aims to rationalise tax rates to bring more people and companies under the tax net.
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