Chief Economic Adviser Arvind Subramaniam today flayed foreign credit rating agencies for adopting inconsistent standards while evaluating the country, saying that BRICS countries are looking to set up an independent rating agency to overcome it.
In cases where tax liability arose because of retrospective amendment to the law or a court ruling, the interest payable on the demand will be waived, it said.
Speaking to Moneycontrol, Roland Folger, Managing Director, Chief Executive of Mercedes-Benz India explained that if taxes on luxury cars were to be cut by even 10 percent, then volumes would rise significantly thereby adding to tax revenue.
Research firm feels the company will have to raise prices by 2-4 percent across brands to maintain realisation before margin, but volumes could take a hit.
If you do not maintain monthly average balance (MAB) in your savings account then be ready to pay hefty fines that could go up to Rs 600.
The Public Accounts Committee wants action against people who had availed service tax amnesty scheme in 2013 but never filed any taxes thereafter.
In one of his addresses, Prime Minister Narendra Modi spoke on the timing of demonetisation, saying that you treat a patient when he is healthy and not when he is weak. His assessment of the economy being healthy at the time of demonetisation seems to be correct if the latest GDP numbers are to be believed.
During his campaign, US president Donald Trump vowed to ease the burden of the healthcare industry in US by reducing taxes and government regulations. Two important decisions expected from the Trump administration is appointment of Food and Drug Administration (FDA) commissioner and drug price control.
In an interview to CNBC-TV18, Sanjay Tolia, Partner Tax at PwC, Samir Kanabar, Partner at EY, Feroze Azeez, Deputy CEO, Anand Rathi Private Wealth and Nitin Jain, CEO, Global Asset Management at Edelweiss shared their views on what does this Budget 2017 mean for your personal wealth, your taxes and your life as a common citizen of India.
The tax department said the levy of long-term capital gains tax on share transfer in unlisted companies is an anti-abuse measure.
Finance Minister Arun Jaitley on Wednesday presented perhaps the most eagerly watched Budget in the recent past. Here are the key takeaways from his Budget speech.
The Survey has cautioned the government that it should use any windfall arising out of unreturned Rs 500 and Rs 1000 notes for capital expenditure rather than current expenditures like salaries and subsidies
The sharp run-up of almost 8 percent in the broad indices in the month preceding the Budget suggests that the market is expecting the moon, however, it takes just one announcement from Jaitley to pour cold water over such high hopes.
Receipts of tax on sale of land and buildings, conversion to freehold, development charges from private parties, car parking charges, trade licenses, booking of community centers for weddings, tax on advertisement and registration of R
Greater borrowing by the Centre and states will leave banks with lesser funds to lend to companies and individuals, partly negating the gains from demonetisation-induced surge in deposits.
Speaking to CNBC-TV18, Ajit Gulabchand, Chairman and Managing Director of Hindustan Construction Company, said that he hoped to see the benefits of demonetisation materialise in the form of lower taxes.
US President-elect Donald Trump's plans to slash taxes could threaten the country's triple-A credit rating over the medium term, the head of EMEA sovereign ratings at the Fitch agency said on Thursday.
Petroleum dealers in Tamil Nadu today announced they will not accept plastic money starting tomorrow in protest against a one per cent levy plus taxes on all transactions made through debit and credit cards, prompting harried consumers rush to fuel outlets.
Finance Minister Arun Jaitley should use the forthcoming Budget to rationalise taxes and simplify the procedures to boost economic activity, new Ficci President Pankaj R Patel said today.
Any route the government takes to increase taxes on the market will be counter-productive. But the incident reflects government's insensitive attitude
Trump's plans to cut taxes and boost spending have sent Wall Street to record highs in December as investors pile into everything from banks, to energy and materials and other infrastructure-related names.
"By just depositing it (unaccounted money), you don't avoid the responsibility of paying tax," he said when asked about surge in deposits in banks following withdrawal of high denomination currency notes.
Government today extended use of old Rs 500 and Rs 1,000 notes for paying household utility bills, fuel, taxes and fees as well as purchases from co-operative stores by another 72 hours to November 14 as it struggles to make available alternative currency.
About Rs 50,000 crore will be needed to compensate states for loss of revenue from rollout of GST, which is to subsume a host of central and state taxes like excise duty, service tax and VAT, in the first year beginning April 1.