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  • Tarun Bajaj given additional charge of Secretary, Department of Revenue Feb 27, 2021 06:58 PM IST

    Tarun Bajaj given additional charge of Secretary, Department of Revenue

    Bajaj, the incumbent Secretary of Department of Economic Affairs, would be succeeding Dr ABP Pandey upon the latter's superannuation.

  • Top 25,000 GST payers of October yet to file returns in November, tax officers to send reminders Nov 29, 2020 10:48 PM IST

    Top 25,000 GST payers of October yet to file returns in November, tax officers to send reminders

    About 80 lakh sales return or GSTR-3B have been filed so far.

  • Revenue Department may cancel GST registration of 5.43 lakh firms for failing to file tax returns: Report Nov 28, 2020 10:18 PM IST

    Revenue Department may cancel GST registration of 5.43 lakh firms for failing to file tax returns: Report

    In order to monitor the activity of defaulters failing to file their monthly summary return of transactions (form 3B) in November, the Revenue Department has also asked the officials to follow up with 25,000 businesses

  • GST, I-T mop up in Q1 very encouraging, indicates economic recovery: Finance Secretary Ajay Bhushan Pandey Jul 23, 2020 06:20 PM IST

    GST, I-T mop up in Q1 very encouraging, indicates economic recovery: Finance Secretary Ajay Bhushan Pandey

    The Finance Secretary said that the Revenue Department wants to bring in self-compliance among taxpayers by making available data of all financial transactions via Form 26AS at the time of filing income tax (I-T) return.

  • DPIIT, revenue dept weigh options for more tax relaxations to startups: Official May 30, 2020 04:13 PM IST

    DPIIT, revenue dept weigh options for more tax relaxations to startups: Official

    Talking about the host of measures on which they are working, he said the DPIIT will be extending more funds this year to startups under the Fund of Funds scheme. It has provided over Rs 1,000 crore last year.

  • Finance Ministry implores banks to boost RuPay, UPI infra: Report Jan 03, 2020 04:17 PM IST

    Finance Ministry implores banks to boost RuPay, UPI infra: Report

    Non-complaint businesses would face a daily penalty of Rs 5,000.

  • Revenue department to look at quarterly GST revenues average for trend analysis May 02, 2018 03:37 PM IST

    Revenue department to look at quarterly GST revenues average for trend analysis

    "The department will look at quarterly revenue trends to better gauge the revenue trend. The aim is to increase the average revenue collection from what we achieved last fiscal," a senior official told PTI.

  • Commodities@Moneycontrol: Sugar export duty likely to be scraped Mar 07, 2018 06:03 PM IST

    Commodities@Moneycontrol: Sugar export duty likely to be scraped

    Domestic consumption is estimated at 26 million tonnes, and markets are betting on 1.5 million tonnes of exports in the next 6-7 months.

  • Maharashtra to complete digitisation of 7/12 receipts by end of July 2017 May 11, 2017 05:00 PM IST

    Maharashtra to complete digitisation of 7/12 receipts by end of July 2017

    The digitisation of the 7/12 receipts of 2.46 crore land title documents in Maharashtra, is expected to be over by the end of July 2017, instead of in May, as was envisaged earlier, a &#82

  • Tax evasion of more than Rs 1.37 lakh cr detected in last 3 yrs Apr 07, 2017 01:03 PM IST

    Tax evasion of more than Rs 1.37 lakh cr detected in last 3 yrs

    The department said more than 245 benami transactions have been identified and provisional attachments of properties worth Rs 55 crore have already been made in 124 cases as per the amended benami transactions prohibition law which came into effect from November, 2016.

  • Increase in ready reckoner rates in Maharashtra; cost of buying up marginally Apr 06, 2017 02:00 PM IST

    Increase in ready reckoner rates in Maharashtra; cost of buying up marginally

    The state revenue department of Maharashtra recently hiked the ready reckoner rates, by an average rate of 5.86% across the state. In Mumbai, the ready reckoner rates have been increased by 3.95%, as opposed &#82

  • Illegal structures in Mumbai‘s CRZ to be demolished Mar 06, 2017 04:00 PM IST

    Illegal structures in Mumbai‘s CRZ to be demolished

    The Mumbai suburban district administration will start the process of razing illegal structures in the Coastal Regulation Zone (CRZ) in Versova next week, an official said on March 5, 2017. The administration has identified &#82

  • CBEC asks tax officers to speed up GST migration Mar 03, 2017 02:36 PM IST

    CBEC asks tax officers to speed up GST migration

    The Central Board of Excise and Customs, the apex policy making body for indirect taxes, in a communication to the field formations has asked the Zonal Chief Commissioners to submit a weekly progress report beginning March 6.

  • Demonetisation will widen tax base, Finance Ministry tells PAC Jan 22, 2017 11:38 AM IST

    Demonetisation will widen tax base, Finance Ministry tells PAC

    Demonetisation will lead to a wider tax base and lower interest rates, thus paving the way for "sustainable faster economic growth", the Finance Ministry has said.

  • Over 300 construction sites in Delhi penalised for pollution Nov 07, 2016 03:38 PM IST

    Over 300 construction sites in Delhi penalised for pollution

    Over 300 construction sites were penalised for violating dust pollution norms in Delhi, although the drive against open burning of waste did not gather as much steam. Analysis of data shared by the Delhi R

  • Expect tax incidence to remain same under GST depsite cess: M&M Nov 07, 2016 02:23 PM IST

    Expect tax incidence to remain same under GST depsite cess: M&M

    The tax incidence will remain more or less the same under GST despite the cess, says Executive Director of M&M, Pawan Goenka. He along the management of several auto companies, discussed transitional issues on GST with Finance Minstry officials today

  • GST: Clarification likely on Centre's power to levy excise Sep 19, 2016 07:16 PM IST

    GST: Clarification likely on Centre's power to levy excise

    The revenue department is likely to issue clarification on legality of levying excise duty by the Centre on various commodities till implementation of goods and services tax (GST) from April 1, 2017.

  • Panama opens canal extension amid growth risks, cost battle Jun 27, 2016 09:48 AM IST

    Panama opens canal extension amid growth risks, cost battle

    At 7.50 a.m. (1250 GMT), the Chinese container ship "Cosco Shipping Panama" entered the Agua Clara lock on the Atlantic to begin the first crossing of the roughly 50-mile-long (80.45-km-long) waterway and was due to emerge on the Pacific side by 5.00 p.m. (2200 GMT).

  • CBDT extends FATCA reporting deadline by 6 months till Dec 31 Jun 22, 2016 10:24 PM IST

    CBDT extends FATCA reporting deadline by 6 months till Dec 31

    The revenue department has extended the date for reporting details of accounts under Foreign Account Tax Compliance Act (FATCA) by six months to December 31, 2016, and excluded two types of entities from the purview of the Act

  • Multi-agency group submits 3 reports on Panama leaks to govt Jun 22, 2016 10:46 AM IST

    Multi-agency group submits 3 reports on Panama leaks to govt

    The Central Board of Direct Taxes (CBDT) has also been updating the Special Investigation Team (SIT) set up under the directions of the Supreme Court to monitor cases related to black money, according to the Revenue Department.

  • ITR asset disclosure norm to affect 1.5 lakh ultra rich: Adhia Apr 01, 2016 09:10 PM IST

    ITR asset disclosure norm to affect 1.5 lakh ultra rich: Adhia

    Brushing aside concerns expressed by tax experts over the new disclosure norms, Adhia said this will mainly apply to those who were required to file wealth tax returns.

  • ITR forms for AY 2016-17 to be notified by early April Mar 26, 2016 12:52 PM IST

    ITR forms for AY 2016-17 to be notified by early April

    Finance Ministry is likely to notify by first week of April new income tax return forms for Assessment Year 2016-17 which will more or less be similar to the one that was filed by assessees last year.

  • There is a large segment of unidentified tax defaulters: Jaitley Mar 02, 2016 01:07 PM IST

    There is a large segment of unidentified tax defaulters: Jaitley

    In his post-Budget 2016-17 interaction with industry chambers, the Finance Minister pointed that the revenue department is doing an important job to make sure that people comply.

  • Long-term capital gains tax: FinMin divided on time-frame issue Feb 22, 2016 10:04 PM IST

    Long-term capital gains tax: FinMin divided on time-frame issue

    The Revenue Department is in favour of changing the time frame from 1 year to 3 years but Department of Economic Affairs is against it.

  • RBI, SEBs to file AIR on remittances, power consumption Feb 17, 2016 08:08 AM IST

    RBI, SEBs to file AIR on remittances, power consumption

    The Central Board of Excise and Customs (CBEC) in the Finance Ministry has issued a notification in this regard.

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