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Most of top-level executives have positive perception of GST: Deloitte survey

Most of top-level executives have positive perception of GST: Deloitte survey

Wed, Jun 19, 2024

An increasing number of C-suite executives have a positive perception of GST with many highlighting further reforms like rationalising tax rates and effective dispute resolution process as focus areas to usher in GST 2.0, a Deloitte survey said on Wednesday.

Tax Payers on Social Media: 'My Taxes for National Progress, Not for Freebies' Campaign

Tax Payers on Social Media: 'My Taxes for National Progress, Not for Freebies' Campaign

Fri, Jun 14, 2024

Tax payers are running "My tax for the progress of the country, not for free" campaign on social media. watch this video

GST: Avoid these mistakes while filing your GST returns

GST: Avoid these mistakes while filing your GST returns

Thu, Aug 10, 2023

Taxpayers often end up making certain common mistakes while filing GST returns, which can lead to heavy penalties, late fees, and even legal issues.

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CBDT detects over 30 tax irregularity cases, seizes over Rs130 crore

CBDT detects over 30 tax irregularity cases, seizes over Rs130 crore

Tue, Dec 06, 2016

Detecting ‘serious’ irregularities while disclosing income, the Central Board of Direct Taxes (CBDT) on Tuesday said that over 30 such cases have been reported to the Central Bureau of Investigation (CBI) and the Enforcement Directorate (ED).

Defer PoEM norms, remove tax barrier for startups: says Nasscom

Defer PoEM norms, remove tax barrier for startups: says Nasscom

Sun, Nov 27, 2016

Nasscom President R Chandrashekhar said "serious concerns remain over intangibles (like software) not being clearly mentioned as service and also on issues like place of provisioning of service, and taxation of intra-corporate transactions".

Google may settle to pay five years of back taxes to Indonesian govt

Google may settle to pay five years of back taxes to Indonesian govt

Wed, Nov 23, 2016

The company could end up paying nearly $400 million in back taxes for 2015 alone if it was found to have avoided paying taxes to the government

India to levy tax on investments from Cyprus from April 2017

India to levy tax on investments from Cyprus from April 2017

Fri, Nov 18, 2016

The new agreement provides for assistance between the two countries for collection of taxes.

Income Declaration Scheme to yield Rs 29,000 crore in taxes: FM Jaitley

Income Declaration Scheme to yield Rs 29,000 crore in taxes: FM Jaitley

Fri, Nov 18, 2016

Under the Voluntary Disclosure of Income Scheme (VDIS) 1997, 4.72 lakh people declared assets totalling Rs 33,697 crore.

Now, you can pay water, electricity bills using old Rs 500, Rs 1,000 notes

Now, you can pay water, electricity bills using old Rs 500, Rs 1,000 notes

Thu, Nov 10, 2016

The old notes can be used for making payment of utility services such as water, electricity, taxes, charges, penalties to central and state governments.

Real estate may attract 12% or 18% tax rate under GST: Report

Real estate may attract 12% or 18% tax rate under GST: Report

Mon, Nov 07, 2016

A lower tax rate of 12% will reduce housing price and boost demand, but 18% tax rate could end up increasing the cost of homes, JLL said.

CBDT asks taxmen to ensure revenue collection targets are met

CBDT asks taxmen to ensure revenue collection targets are met

Mon, Oct 31, 2016

CBDT has asked taxmen to pull up their socks to ensure targeted revenue collection targets are met as the figures till September show a shortfall of an estimated over Rs 14,000 crore.

India jumps one place on Ease of Doing Business Index; Sitharaman disappointed

India jumps one place on Ease of Doing Business Index; Sitharaman disappointed

Wed, Oct 26, 2016

World Bank's Ease of Doing Business Index put India at 130th rank this year, up one place from last year. Naturally, the government is not happy.

Vedanta Resources pays nearly Rs 13,306 crore in royalties, taxes to India in FY16

Vedanta Resources pays nearly Rs 13,306 crore in royalties, taxes to India in FY16

Mon, Oct 03, 2016

Mining giant Vedanta Resources has paid more than $2 billion (nearly Rs 13,305.5 crore) in taxes, royalties, licence fees and other payments to India in the last financial year ended March 2016.

Assets worth Rs 65,250 crore declared under Income Tax Disclosure Scheme

Assets worth Rs 65,250 crore declared under Income Tax Disclosure Scheme

Sat, Oct 01, 2016

Given the tax rate and penalty of 45%, this can potentially fetch the government a little under Rs 30,000 crore.

Tax dept introduces 2 more draft rules; makes monthly returns mandatory under GST

Tax dept introduces 2 more draft rules; makes monthly returns mandatory under GST

Tue, Sep 27, 2016

Moving at a fast pace, the tax department on Tuesday came up with two more draft rules and their formats on GST returns and refunds requiring assessees to file monthly returns and specifying procedure for claiming refunds of taxes, interest and fees.

Google may have to pay over $400 million in back taxes to Indonesia

Google may have to pay over $400 million in back taxes to Indonesia

Tue, Sep 20, 2016

The tax office alleges PT Google Indonesia paid less than 0.1% of the total income and value-added taxes it owed last year.

CBDT clarifies unconfirmed reports speculating on the taxpayers response on IDS scheme

CBDT clarifies unconfirmed reports speculating on the taxpayers response on IDS scheme

Thu, Sep 15, 2016

The board said,” It would like to clarify that these speculations are not based on any statements issued by the department.”

Income Tax department directs taxpayer to hurry up as IDS window deadline nears

Income Tax department directs taxpayer to hurry up as IDS window deadline nears

Sun, Sep 11, 2016

The Income Tax Department on Sarturday directed the people involved with blackmoney to clear their taxes under the Income Declaration scheme as only 20 days left for the window to close for declaration.

Black Money: RBI directs banks to accept tax payment in cash

Black Money: RBI directs banks to accept tax payment in cash

Fri, Sep 09, 2016

RBI said," The banks have been advised to ensure their branches invariably accept cash from all their customers who desire to deposit cash at the counters."

Starbucks, Amazon pay less tax than a sausage stand, says Austria

Sat, Sep 03, 2016

Multinationals like coffee chain Starbucks and online retailer Amazon pay less tax in Austria than one of the country's tiny sausage stands, the republic's centre-left chancellor lamented in an interview published on Friday.

Here’s why Apple is well prepared to ride the $14.5 billion tax bill imposed by EU

Here’s why Apple is well prepared to ride the $14.5 billion tax bill imposed by EU

Wed, Aug 31, 2016

Apple had warned investors in a July regulatory filing that the Commission’s investigation could lead to "material" liability for further tax payments, but that it could not estimate the impact.

Apple may have to pay over $1 billion as EU to rule against Irish tax laws

Apple may have to pay over $1 billion as EU to rule against Irish tax laws

Tue, Aug 30, 2016

The European Commission accused Ireland in 2014 of dodging international tax rules by letting Apple shelter profits worth tens of billions of dollars from tax collectors in return for maintaining jobs.

GST bill marks growing political consensus for reforms: RBI

GST bill marks growing political consensus for reforms: RBI

Mon, Aug 29, 2016

The central bank said, "The passage of the Goods and Services Tax (GST) Bill marks a new era co-operative fiscal federalism and a growing political consensus for economic reforms."

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