Jan 18, 2022 09:58 AM IST
The comes as the government waits for observations and technical insights from the upcoming pilot of the central bank's digital currency project expected to launch within the next few months.
- Dec 29, 2021 03:56 PM IST
Even though virtualisation of assessment and appellate procedures is needed, doubts still linger in the minds of taxpayers. The government should take these steps in a transparent manner. Also, it would be better if the equalisation levy is restricted to the e-commerce sector alone
- Nov 05, 2021 06:50 PM IST
The request for correction of inverted duty structure, if any for a commodity, should necessarily be supported by value addition at each stage of manufacturing of the commodity, it said.
- Oct 29, 2021 10:45 AM IST
The I-T department is trying to populate as much financial data as possible and track people who do not pay due taxes
- Oct 27, 2021 10:42 AM IST
Once you file income under presumptive tax scheme, you have to follow the same method for the next five years. In case an assessee opts out in an year, she shall not be allowed to file return under it for the subsequent five years
- Oct 22, 2021 11:09 PM IST
- Oct 22, 2021 02:10 PM IST
Compliance with various tax laws including provisions on residential status and global income will help those migrating overseas to avoid long-drawn inquiries and litigation with the Indian authorities
- Oct 19, 2021 12:09 PM IST
Expert group to review and rework on the tax structure for various tobacco products.
- Oct 04, 2021 09:39 AM IST
Spent on your uninsured parents' COVID treatment or paid a processing fee for a home loan? You can claim these amounts as deductions, subject to limits
- Sep 30, 2021 10:12 AM IST
The ruling is expected to help many income tax assessees to plan their taxes well
- Sep 21, 2021 01:57 PM IST
If not for all the depositors, the taxation review should be carried out for at least the deposits made by senior citizens who depend on the interest for their daily needs, the economists led by Soumya Kanti Ghosh said in a note, which pegged the overall retail deposits in the system at Rs 102 lakh crore.
- Aug 05, 2021 08:43 PM IST
The government has moved to nullify all retrospective tax demands, which have seen India fighting legal battles with global corporations for more than a decade now.
- Mar 18, 2021 02:35 PM IST
With higher taxes burning a deep hole in smokers’ pockets, the volume and share of legal cigarettes in India is falling amid a rise in the smuggling of illegal gaspers and bidis.
- Mar 09, 2021 12:17 PM IST
Many non-resident Indians couldn’t return to their countries due to the lockdown. The tax department has clarified the rules for determining their residential status
- Feb 22, 2021 09:30 AM IST
Except for environmental benefits of disincentivising the consumption of fossil fuels, the imposition of a petroleum product tax is not only regressive in its impact but also seems to be defeating the essential fiscal purpose of taxation i.e. controlling inflation
- Feb 11, 2021 10:15 AM IST
Tax experts differ over the implications of early ULIP surrenders, debt fund options
- Feb 05, 2021 09:16 PM IST
The 26 AIS would not only serve as a checklist for a taxpayer in filing returns but would also enhance the tax base, Mody said.
- Feb 01, 2021 03:04 PM IST
Many opposition members raised slogans over the farmers' protest as soon as Sitharaman began her speech. Congress MPs Jasbir Singh Gill and Gurjeet Singh Aujla were seen wearing a black gown to the Parliament as a mark of protest against the three contentious farm laws
- Jan 29, 2021 10:06 AM IST
During 2014-15 to 2019-20, central earnings through excise duties and cess on fuel have nearly doubled, going up by 94 per cent, and the states’ earnings on the same account has gone up by 38 per cent
- Nov 02, 2020 08:20 AM IST
The government should bring the fuel under GST as soon as possible to give a boost to its clean energy drive
- Oct 29, 2020 04:21 PM IST
A more progressive approach to taxation is necessary to counterbalance the rise of economic inequality, which has reached the highest levels since the 1920s
- Sep 14, 2020 03:58 PM IST
The faceless assessment scheme is aimed at making taxation transparent
- Aug 27, 2020 07:43 PM IST
The Centre has given two options for borrowing by states to meet an estimated GST compensation shortfall of Rs 2.35 lakh crore this year due to the pandemic.
- Jul 13, 2020 09:42 AM IST
If a person has Indian income exceeding Rs 15 lakh, she will be subjected to the reduced limit of 120 days stay in India
- Jul 07, 2020 11:14 AM IST
Tax-saving investments for the financial year ended March 31, 2020 can be done till July 31