Tax

Hela February 17, 2019

A Karnataka-based businessman has been jailed for six months for allegedly not filing his income tax arrears and interest of around Rs 7.35 crore despite reminders, an official said on Saturday. “The defaulter was arrested on Friday for failing to pay his tax arrears and produced before the Tax Recovery Officer (TRO) from where he […]

Hela February 15, 2019

CBIC Chairman Pranab Kumar Das, who assumed charge last month, said with compliance going up and tax net widening, it won’t be difficult to meet the revenue targets. GST revenue shortfall drags down tax revenue estimates (Representational Image)  |  Photo Credit: Thinkstock New Delhi: Shortfall in GST revenue of an estimated Rs 1 lakh crore has forced […]

Hela February 15, 2019

Apple is one of several American technology giants in the line of fire in Europe over their tax strategies, which see them route their income through low-tax nations such as Ireland or Luxembourg. Apple agrees 500-million-euro tax settlement with France  |  Photo Credit: Indiatimes Apple said Tuesday it had reached an agreement with French authorities to […]

Hela February 15, 2019

The Modi government had implemented the anti-benami transactions law. Confiscated benami assets worth Rs 6,900 crore: Income Tax Department  |  Photo Credit: BCCL New Delhi: The Income Tax Department has confiscated assets worth Rs 6,900 crore till now as part of its action under the anti-benami transactions law, the agency said in a public advertisement on Tuesday. […]

Hela February 15, 2019

Budget 2019: The BJP government is all set to present the Interim Budget on Friday. This might be government’s last chance to woo the salaried and the middle-class and they might dole out these tax incentives. Representative Image  |  Photo Credit: Times Now New Delhi: President Ram Nath Kovind’s address to a joint sitting of Parliament marked […]

Hela February 12, 2019

UK-based Indian doctors and healthcare professionals are campaigning against what they describe as an “unfair” doubling of a health surcharge imposed on professionals from outside European Union (EU) living and working in Britain. The“Immigration Health Surcharge” was introduced in April 2015 and from December last year, it was hiked from 200 pounds to 400 pounds […]

Hela February 12, 2019

The interim budget announced on Februrary 1 has been hailed by developers and realty experts for the good news it brought to the real-estate segment. This includes the increased exemption period for notional tax on unoccupied houses (from a year to two years); no tax on house rents up to Rs 2.4 lakh; rollover of […]

Hela February 12, 2019

ax relief for the middle class was one of the highlights of Finance Minister Piyush Goyal’s Budget 2019 speech. Proposing several changes to the tax structure, Piyush Goyal – presenting the NDA government’s last budget in an election year – proposed no tax on income up to Rs 5 lakh. (Live updates) Read: Highlights of […]