Search For "taxes"
Finance Commission advisory council meets, discusses outlook for nominal G
Updated : 6 years, 1 month ago IST
New Delhi [India], Feb 13 (ANI): The 6th meeting of Advisory Council to the 15th Finance Commission was held here on Thursday to seek views of participants on the formula for horizontal devolution of central taxes and discuss the outlook for nominal GDP growth from 2021-22 to 2025-26, tax bu
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Cabinet approves protocol amending agreement between India and Sri Lanka f
Updated : 6 years, 1 month ago IST
New Delhi [India], Feb 12 (ANI): The Union Cabinet on Wednesday approved the signing and ratification of the protocol amending the agreement between India and Sri Lanka for the avoidance of double taxation and prevention of fiscal evasion in respect to taxes on income.
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CBIC destroys prohibited drugs, narcotics worth Rs 79 crore
Updated : 6 years, 1 month ago IST
New Delhi [India], Feb 11 (ANI): The Customs formations under the Central Board of Indirect Taxes and Customs (CBIC) carried out an all India destruction of huge quantity of seized prohibited narcotics and psychotropic drugs and substances (NDPS) worth Rs 79 crore in the international market
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Mutual funds to deduct TDS only on dividend payments, not on capital gains
Updated : 6 years, 1 month ago IST
New Delhi [India], Feb 4 (ANI): Mutual funds will have to deduct TDS at 10 per cent only on dividend payments and not on the income which is in the nature of capital gains, according to the clarification by the Central Board of Direct Taxes (CBDT) on Tuesday.
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Broader tax base will allow tweaking of tax rates: CBDT
Updated : 6 years, 1 month ago IST
New Delhi [India], Feb 4 (ANI): As the tax base gets broader, there is a chance of tweaking the tax rates as there is a large portion of unorganised sector which is outside the tax framework, Chairman of the Central Board for Direct Taxes (CBDT) Pramod Chandra Mody said on Tuesday.
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Cigarette and tobacco products to cost more
Updated : 6 years, 1 month ago IST
New Delhi [India], Feb 1 (ANI): A large number of items, including cigarette and tobacco products, will cost more due to hike in taxes following the presenting of the Union Budget 2020-21 by Finance Minister Nirmala Sitharaman.
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Budget proposes wide-ranging facilitation measures in direct tax regime
Updated : 6 years, 1 month ago IST
New Delhi [India], Feb 1 (ANI): The Union Budget 2020-21 has proposed a new scheme called 'Vivad Se Vishwas' (no dispute but trust) which aims at reducing litigations in the direct taxes payments.
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KPMG hopes for rationalisation of taxes, enhanced use of technology in com
Updated : 6 years, 2 months ago IST
New Delhi [India], Jan 21 (ANI): Professional services provider KPMG said on Tuesday the Union Budget 2020 may see a reduction in dividend distribution tax or bring about a change in the manner of dividend taxation in order to make it a shareholder-level tax.
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Interaction for 2 vacant CBDT board member posts to be held on Jan 23
Updated : 6 years, 2 months ago IST
New Delhi [India], Jan 18 (ANI): Interaction for the selection of candidate for two vacant posts in the Central Board of Direct Taxes (CBDT) board, the top policy-making body of the Income Tax Department, will be held on January 23, sources said.
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Over 1,200 exporters untraceable, Rs 350 crore fake IGST refunds saved
Updated : 6 years, 2 months ago IST
New Delhi [India], Jan 15 (ANI): A recent analytics-driven probe into Goods and Services Tax (GST) refunds has led investigators to detect more than 1,200 untraceable exporters, saving the exchequer of over Rs 350 crore in refunds under payment.
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CBDT relaxes eligibility conditions for filing of I-T return Form-1, Form-
Updated : 6 years, 2 months ago IST
New Delhi [India], Jan 9 (ANI): The Central Board of Direct Taxes (CBDT) has granted relaxation in eligibility conditions for filing of Income-tax Return Form-1 (Sahaj) and Form-4 (Sugam) for Assessment Year 2020-21.
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Officials discuss ways to streamline GST system, curb evasion
Updated : 6 years, 2 months ago IST
New Delhi [India], Jan 7 (ANI): Revenue Secretary Ajay Bhushan Pandey held a day-long brainstorming session on Tuesday with commissioners of state and central taxes to discuss how the Goods and Service Tax (GST) system can be streamlined for faster refunds, enhanced compliance and discourage
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