Tax Payment

The Income Tax department on Wednesday conducted searches on premises of Exel Group of companies in Hyderabad and neighbouring Sangareddy district for alleged irregularities in income tax payment

Profit fell 15.6 per cent over the preceding June quarter when it had reported a net of Rs 15,205.85 crore

Oct 3 Mumbai court filing by India's customs authority underlines growing dispute between PM Modi's government and Pernod's local unit over how the company valued some of its imports for over a decade

Those with income from business or profession, who have availed deduction on cess/surcharge, must do so by March 31

Property tax is one of the major sources of revenue for local governments/Urban Local Bodies (ULBs)

Interest rates on term deposits, money market instruments could go up further, even as RBI may conduct repo operations to maintain liquidity in the system

The government may provide direct incentives to the producers of solar modules as it believes that tax cuts may lead to practical difficulties

Direct tax collection, net of refunds, stood at Rs 2.81 trn, according to initial estimates; advance tax collection for the period between April 1 and June 15 was Rs 42,679 cr

The modified form will help in checking bogus ITC claims and ensure that honest taxpayers are able to timely avail the ITC benefit

This is at least 3.3x times the current pace of daily returns filed

The government in August enacted a law to end all retrospective taxation imposed on indirect transfer of Indian assets

The government has waived late fee on delayed filing of monthly return GSTR-3B and tax payment for the months of March and April and also cut interest rate for late filers

Says recovery surveys be resorted to only if assessee is not responding to notices, can only be undertaken by those in investigation or TDS wing of tax dept

GSTN, which handles the IT backbone for GST has already started providing tax liability data based on sales return GSTR-1 of the taxpayer to be used in his tax payment form GSTR-3B in pdf form

Only payments made after submission of this certificate are eligible for lower or nil tax rate

Union Home Minister Amit Shah on Thursday said the Narendra Modi government has taken several key decisions to empower and honour honest taxpayers and launch of 'Transparent Taxation-Honoring the Honest' is a gift to the taxpayers. The Prime Minister on Thursday unveiled a faceless tax assessment and appeals to reduce the scope for corruption and overreach by officials. "Modi govt has taken several landmark decisions to empower and honour the honest taxpayers who are the backbone of India's progress & development," Shah tweeted. Shah said this platform is another step towards the prime minister's resolve of 'Minimum Government, Maximum Governance'. "Reforms for a New India! Launch of 'Transparent Taxation-Honoring the Honest' is a gift to our taxpayers by PM @narendramodi & FM @nsitharaman. With reforms like faceless assessment, faceless appeal & taxpayers charter this platform will further strengthen our taxation system," he said in another tweet. On the major overhaul of

Cracking the whip on tax defaulters, the Delhi government Tuesday warned them of stringent action as it found that 10,800 companies did not pass on the full amount they collected from people as taxes

The state also urged house owners to consider being lenient with tenants on rentals

These are among the measures that could be discussed in the Covid-19 Economic Response Task Force

Mumbai, 24 DecemberReliance Jio Infocomm's plan to reduce debt by selling stake in its telecom tower arm to Canadian investor fund Brookfield isn't free of the income tax (I-T) department hurdle. The latter plans to petition the Supreme Court against the National Company Law Appellate Tribunal (NCLAT) order of December 20 which cleared Jio's proposed demerger of tower and fibre optic network assets to two infrastructure trusts. The clearance was in spite of I-T objections. The department argued that the proposed conversion of preference shares worth Rs 65,000 crore by Jio - by cancelling and then converting these into loans -- would substantially reduce the profit of the demerged company. And, so, cause huge loss of revenue to the department. In sum, a move to avoid and evade taxes, it contended. Jio denied the charges. An e-mail sent this week by this publication to Reliance for its views on the issue did not elicit a response.In July this year, Brookfield had said it would pay Rs ..