With a staff crunch, it seems the I-T department would now target only the big fish rather than go after small assessees.
'Day by day, the queues will shorten.'
We are certainly for digitisation. I do not have opinion about demonetisation. I still don't, says Bill Gates.
Information gathered from a person's social media account will be matched with his or her declared income.
The Centre is likely to introduce the Central GST and integrated GST bills in late November or early December in the ongoing session in the form of money Bills.
Amid persistent fear of prosecution and penalty, people across income classes are looking for ways to do away with stacks of higher denomination currency.
The government will assess how cash deposits after the demonetisation could be brought under the tax net, says Revenue Secretary Hasmukh Adhia.
"At present, there are two main rate slabs under which sa majority of goods are covered -- five per cent and 12.5 per cent -- which will now increase to three (five per cent, 12 per cent and 18 per cent).Will this result in multiple litigations is anybody's guess."
If receipts from disinvestment, tax buoyancy and black money scheme offset shortfall in spectrum sale, higher expenditure due to pay commission's recommendations and capital expenditure, then the government would be able to meet the target of controlling fiscal deficit at 3.5 per cent of GDP this financial year.
Instructions from the Union rural development ministry to the state officials on the WhatsApp group show that the chat was also used as an off-record avenue for the Union government to pass instructions, which it could not have done through formal channels, keeping the law in mind.
Centre's off-the-record instructions through WhatsApp and a squeeze on funds brought the rural work programme to collapse after a roaring first half of the year.
India tried to block the project at the fund's board meeting in South Korea, but later agreed to approve it with new condition, reports Nitin Sethi.
'GST gives a huge relief to small businesses of India and West Bengal.'
100 square kilometre of Panna Tiger Reserve could go under water, writes Nitin Sethi.
The church bells don't toll in Churachandpur any more. The hill district in Manipur has been in mourning for more than a year.
Assets worth only Rs 4,000 cr declared till mid-August; govt expects pick-up in last 2 weeks
'We cannot let this country be a place where the poor pay to shit.' 'That is inhuman and unacceptable.'
The proposed changes, as per the draft, could continue some of the existing conflict between wildlife protection regulations with the implementation of Forest Rights Act, 2006, which gives rights to tribals in all kinds of traditional forest lands -- including the wildlife zones, such as national parks. The new proposed law, just as the original one from 1972, does not explicitly recognise these rights in all wildlife areas.
Middle class constituted about 49 per cent of the total tax payees in financial year 2011-12
Petroleum being out of the goods and services tax initially will create some anomaly as tax credit on some of the inputs to oil industry may not be given, said revenue secretary Hasmukh Adhia.
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