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GST Council clarifies on popcorn taxation

GST Council clarifies on popcorn taxation

Sat, Dec 21, 2024

GST Council on Saturday agreed to issue a clarification on taxation of popcorn, saying that pre-packed and labelled ready-to-eat snacks will attract a 12 per cent tax while an 18 per cent GST will be levied if it is caramelised.

IT department issues guidance note on Vivad Se Vishwas dispute resolution scheme

IT department issues guidance note on Vivad Se Vishwas dispute resolution scheme

Wed, Oct 16, 2024

It would also include cases pending before the Dispute Resolution Panel (DRP) and revision petitions pending before the Commissioner of Income Tax.

Budget 2024: How can Budget make the new income tax regime more attractive for salaried tax payers?

Budget 2024: How can Budget make the new income tax regime more attractive for salaried tax payers?

Mon, Jul 22, 2024

Budget 2024: The government is set to table its first full budget after elections and the wish list of taxpayers is as long as ever. This is especially so as the government did not make any key changes in the interim budget as it was a Vote on Account budget.

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India's fiscal deficit reaches 74% of full-year target in July

India's fiscal deficit reaches 74% of full-year target in July

Wed, Aug 31, 2016

India`s fiscal deficit during April-July was 3.93 trillion rupees ($58.69 billion), or 73.7% of the budgeted target for the fiscal year ending in March 2017, government data showed on Wednesday.

Tax Regime: CBDT signs 20 unilateral agreements with Indian tax payers

Tax Regime: CBDT signs 20 unilateral agreements with Indian tax payers

Tue, Aug 30, 2016

The 20 APAs signed includes varipous sectors of the economy such as Information Technology, Banking & Finance, Insurance, Human Resources, Pharmaceutical, Solar Energy, Oil & Gas, Foods & Beverages, Telecommunications and NGO.

Service tax collection from Mumbai up 23% in 4 months

Service tax collection from Mumbai up 23% in 4 months

Sun, Aug 28, 2016

Service tax collection from Mumbai zone has surged by nearly 23 per cent during the first four months of the fiscal over the year-ago period and has also surpassed the set target. Tax officials are also hopeful of achieving the full year target given to it by the government.

RBI authorises select bank branches to collect advance tax

RBI authorises select bank branches to collect advance tax

Sat, Aug 13, 2016

Reserve Bank has authorised various bank branches, including those of SBI, ICICI, HDFC Bank, PNB and Bank of Baroda, to collect income tax dues in advance for the September quarter.

Income Tax: E-filing grows by 9 percent this year

Income Tax: E-filing grows by 9 percent this year

Mon, Aug 08, 2016

Avoiding long queues of filing income tax returns, the e-filing of income tax made it possible to garner more taxpayers online.

Union up in arms to protest removal of IT benefits for seafarers

Union up in arms to protest removal of IT benefits for seafarers

Fri, Aug 05, 2016

The Income Tax department has recently started issuing notices to all Indian seafarers stating that they are now entitled to pay taxes to the Indian government.

GST Bill may be sent to Lok Sabha for approval on Monday

GST Bill may be sent to Lok Sabha for approval on Monday

Fri, Aug 05, 2016

Once the amended Bill is approved by the Lok Sabha, it will be sent to the state assemblies.

GST in Rajya Sabha: Here's a list of amendments

GST in Rajya Sabha: Here's a list of amendments

Tue, Aug 02, 2016

If passed, the Government is hopeful of implementing the new tax code from April 1, 2017.

Will GST be a game changer for India?

Will GST be a game changer for India?

Sat, Jul 30, 2016

GST, a broad-based tax, that seeks to convert all 29 states into a single market with a indirect taxation system, will need certain constitutional amendments to remove the state boundaries and the multiplicity of taxes to create a single national taxation system.

Cairn Energy seeks nearly $6 billion compensation from Indian govt

Cairn Energy seeks nearly $6 billion compensation from Indian govt

Tue, Jul 12, 2016

British explorer Cairn Energy has sought $5.6 billion in compensation from the Indian government for raising a retrospective tax demand of Rs 29,047 crore on 10-year old internal reorganisation of its India unit.

File your taxes even if you don't earn enough; here's why

File your taxes even if you don't earn enough; here's why

Tue, Jul 12, 2016

Are you, like many others, thinking of not filing your taxes because you haven't earned enough to be in a tax bracket? Well, you should file your taxes anyway. We tell you why.

ICDS delayed by a year, finance ministry confirms

ICDS delayed by a year, finance ministry confirms

Thu, Jul 07, 2016

ICDS will be applicable on the income earned in this fiscal instead of the previous financial year.

5 key things to know about India-Cyprus double-taxation treaty

5 key things to know about India-Cyprus double-taxation treaty

Fri, Jul 01, 2016

The treaty will all allow Indian authorities to tax capital gains on investments routed through Cyprus.

Black money compliance window: After completing a month, I-T dept creates special tab on website

Black money compliance window: After completing a month, I-T dept creates special tab on website

Tue, Jun 28, 2016

IDS was announced by the government with an aim to flush out black money from the domestic economy.

Possible to reduce tax rates if all pay taxes: Piyush Goyal

Possible to reduce tax rates if all pay taxes: Piyush Goyal

Mon, Jun 27, 2016

The bill seeks to separate content and carriage business in the power sector, thus enabling consumers to choose service providers.

India's securitisation market set to grow further: Moody's

India's securitisation market set to grow further: Moody's

Mon, Jun 20, 2016

The new tax rule will increase post-tax returns from investments in pass through certificates (PTCs).

100 French investigators raid Google's Paris headquarters over tax case: Source

100 French investigators raid Google's Paris headquarters over tax case: Source

Tue, May 24, 2016

Google had in January agreed to pay 130 million pounds in back taxes to Britain.

Can India use the Mauritius tax treaty amendment to get a better deal from the US?

Can India use the Mauritius tax treaty amendment to get a better deal from the US?

Wed, May 11, 2016

India signed this Double Taxation Avoidance treaty with Mauritius in 1983 and hasn’t taxed capital gains since then.

Income Tax Department refunded Rs 1.22 lakh crore last year

Income Tax Department refunded Rs 1.22 lakh crore last year

Fri, May 06, 2016

The Income Tax department has issued 2.10 crore refunds totalling over Rs 1.22 lakh crore in 2015-16, which saw 94 per cent the returns being filed online.

8 things that you must do with your annual bonus

8 things that you must do with your annual bonus

Thu, May 05, 2016

There is nothing wrong in enjoying life to the fullest. At the same time, you cannot be oblivious of the ground financial reality. If you are saddled with expensive debt, it is a good idea to settle off that loan rather than buying the latest iPhone. Makes sense?

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