Budget 2020: The Budget in July raised the surcharge on taxable income between Rs 2-5 crore to 25% from 15%…
While the rule was tweaked to ensure that ITC frauds can be curbed, it’s silent on the treatment of businesses,…
Currently, some returns (ITR-1 and 2) are pre-filled, with information related to the taxpayer and employer, break-up of the salary…
It is felt that a foreign bank opening a branch inside an IFSC would be incentivised if it’s not required…
India’s share of tax from multinational digital companies like Google and Facebook, among others, would be substantially lower than the…
With indirect tax administration moving entirely on the IT platform in India with the advent of Goods and Services Tax…
For instance, an assessee can receive an adversarial assessment from the department by an assessing officer, which can then be…
Cess kitty may not suffice to offset shortfalls after December
MAT credit can be utilised only in years when the tax a firm is required to pay tax under normal…
The person added that the tax force reckoned that the loss of the revenue from its PIT reliefs could be…
The Council did away with the requirement of filing annual returns for taxpayers up to Rs 2 crore turnover, as…
A number of states have represented to the 15th Finance Commission that the Centre should pay them compensation for three…
In some instances, such high-value purchases are being made not in the name of the actual buyer but his close…
I-T dept seeks to tax damages earned by foreign firm under arbitration as ‘windfall gains’, HC turns down move.
Tax relief may push sales in short term, but to hit revenue hard; rate cuts may be limited to certain…
The scheme, which was kicked off on Sept 1, will be valid till Dec 31 and will waive all interest,…
The fake invoices usually don’t have any corresponding supply of goods/services, nor do they involve payment of GST.
A corporate leader reminisces on issues ranging from leadership to the economy
