The United States, the world's biggest exporter of the fibre, has cornered the bulk of Chinese imports for at least a decade. But China's decision to impose a 25 percent import tax from July 6 on American farm commodities, including on cotton, in retaliation for tariffs enacted by the administration of U.S. President Donald Trump will allow India to grab a bigger share of the Chinese market.
Don't forget these changes while filing tax returns this year.
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Unilateral trade actions can be disruptive and may even prove counterproductive.
The form for filing appeals to the Income Tax Appellate Tribunal (ITAT) is being amended after 25 years. The last amendment was made in 1993.
Presently, the equalisation levy has been made applicable only to certain specified services, which include online advertising, any provision for digital advertising space or any other facility or service for the purpose of online advertisement
The article discusses taxability of the pension received overseas.
The court had in April granted interim stay on the Income Tax department's proceedings against Cognizant, subject to the firm depositing 15 per cent of Rs 2,800 crore dividend distribution tax demanded by the department.
The Assessing Officer may levy a penalty of a sum of Rs 10,000 to a person holding multiple PAN cards.
Users of WhatsApp, Facebook, Skype and other social media platforms will have to pay a daily tax, starting July 2018
Sisodia, who besides finance, holds art, culture and languages portfolio, made the remarks here at the screening of 'Life of an Outcast', a crowd-funded film which highlights the plight of Dalits.
The manual intervention in the tax credit refund process has added to the transaction time and cost of exporters, the apex trade promotion body said
Tax saving funds as a category delivered compounded annual growth of 11.2% over the past five years.
Trump said he would meet with Republican Representative Kevin Brady, chairman of the tax-writing House Ways and Means Committee, about the proposal. He did not give any details.
The government, he said, believes that taxation is not covered under bilateral investment protection treaties, which the two British firm have taken refuge under to initiate arbitration, and as such cannot be arbitrated.
The agreement enables the competent authorities of India and Brunei to provide assistance through exchange of information, relevant to the administration and enforcement of the domestic laws of the two countries concerning taxes, an official statement said.
In a report, DIPP has pointed out that GST has resulted in significantly fewer taxes ; the cutoff date for factoring in new reforms and policies for this year's rankings is June 1
Nowadays, you can buy a policy having a valid period of two to three years wherein your premium amount will increase subsequently.
The analytics company to be roped in will have the mandate for designing and developing a Fraud Analytics System.
There can be varied reasons for which I-T department can send a notice, but if you get one, stay calm and then decide on the response.
"The company has received orders along with demand from the Joint Commissioner (Appeal) - GVAT, Rajkot for the financial years 2009-2010 and 2010-2011 for an amount of Rs 178.79 crore which includes tax amount of Rs 46.78 crores and interest and penalty amount of Rs 132.01 crore," Welspun Corp said in the filing.
The impact of e-way bill, launched April 1, will be felt only in the coming months
The earlier you file your return, the quicker would be the processing of your refund if any.
In the last fiscal, the government collected Rs 62,021 crore as cess on sin and luxury goods. This amount will make up for the compensation kitty used to make good for any revenue shortfall faced by states on implementation of GST.
Making his inaugural speech before the visiting 15th Finance Commission, Sonowal said: "The experience of GST till now has not been encouraging. There is an estimated 15-20 percent loss when collections are compared with expected revenue on month to month basis."