Service Tax Dept to focus on 5 evasion prone sectors

Last Updated: Sunday, September 6, 2015, 11:04

"With a view to improve collection, the Service Tax department has prepared sector specific profile of five sectors which are prone to evasion," a senior official told PTI.

Govt may soon come out with circular on relief to FIIs on MAT

Last Updated: Monday, August 24, 2015, 22:25

The Revenue Department may soon come out with a circular on providing relief to FIIs from the minimum alternate tax (MAT) with retrospective effect.

Revenue Dept probing entities over penny stock misuse: Das

Last Updated: Friday, August 21, 2015, 15:40

A day after Sebi clampdown on 59 entities misusing stock market for evading taxes, the government today said the investigation wing of the Revenue Department is probing companies which use the penny stock route for tax evasion.

India, US resolve 35 transfer pricing disputes in IT sector

Last Updated: Thursday, August 6, 2015, 18:03

The Revenue Department Thursday said 35 transfer pricing disputes between India and the US in different segments of Information Technology (IT) have been resolved and another 100 are likely to be settled in the next three months.

'Place of Supply' rules for e-commerce under GST on anvil

Last Updated: Sunday, July 19, 2015, 15:02

As part of GST roll out, the Revenue Department will prepare 'Place of Supply' rules that will comprehensively cover taxation of e-commerce, an official said.

Registration of properties in unauthorises colonies allowed

Last Updated: Tuesday, March 31, 2015, 21:19

In a major relief to lakhs of people living in unauthorised colonies, Delhi government on Tuesday decided to allow registration of properties in the settlements regularised by the Centre, heeding to a long-standing demand of the residents.

CBDT makes public names of 18 tax defaulters who owe Rs 500 crore

Last Updated: Thursday, March 26, 2015, 17:50

Adopting an aggressive approach to increase tax collection, the revenue department for the first time publically named 18 tax defaulters - including Goldsukh Trade and Somani Cements - who owe over Rs 500 crore to the exchequer.

Rs 8,900 cr in taxes pending against LIC, SBI, BSNL: Panel

Last Updated: Thursday, December 11, 2014, 18:35

Pulling up Revenue Department for its "inefficiency" in tax recovery, a Parliamentary panel has said that nearly Rs 8,900 crore is pending against just three public sector companies, LIC, SBI and BSNL.

Circular soon for levying excise on goods sold below cost

Last Updated: Tuesday, December 17, 2013, 19:04

The Finance Ministry Tuesday said it will come out with a circular by January 15 to implement a Supreme Court decision regarding valuation of goods sold below the cost price for levying excise duty.

Will aggressively defend against tax demand: IBM

Last Updated: Wednesday, December 4, 2013, 19:09

US-based technology major IBM is contesting a claim of the revenue department which has increased the company's taxable income substantially to around Rs 11,000 crore.

India slaps $9/kg anti-dumping duty on a bulk drug from EU

Last Updated: Sunday, October 20, 2013, 19:13

The Revenue Department has imposed the duty - a levy to discourage cheap imports - on bulk drug Cefadroxil Monohydrate originating in or exported from the EU for five years.

Kitty Steels MD arrested, fined Rs 10,000 for IT Act violation

Last Updated: Friday, September 27, 2013, 13:41

The Revenue Department on Friday said the Managing Director of Hyderabad-based Kitty Steels Ltd has been fined Rs 10,000 along with three months of imprisonment for violation of income tax laws.