Only luxury and 'sin' items could be left in highest slab. 12 and 18 per cent slabs could be merged in the future
This is the new addition to the tax data, which had identified over 600,000 people for scrutiny over huge inconsistencies in the cash deposits
India worked in close partnership with the World Bank to improve its position, says NITI Aayog CEO Amitabh Kant.
'The full effects of the government initiatives will have to work their way through, whether in infrastructure or in the banking sector.'
Why should India buy olives from Europe when it could do so from the world's largest producers?
Inter-state supply may come under GST composition
Tax experts are nudging the authorities to figure out why so many assessees are not filing their returns.
In the 25-page defence evidence affidavit, which was served to the UK Crown Prosecution Service, Mallya is learnt to have alleged that his was a case of "political vendetta" and "loss-making business".
Deadline ends, after two extensions and only 70% file detailed return for July
Batting for greater transparency, a Sebi panel said sound corporate governance helped companies generate "significantly greater returns".
Poor performance of the banking, oil and exploration industries have impacted corporate tax collections.
The move follows poor results in detecting undisclosed foreign assets and delay in concluding pending matters under the Black Money Act, which came into effect in 2015. According to the official data, only 52 cases have been identified so far. Of these, nine are from Mumbai alone.
A corpus of Rs 20,000-30,000 crore is under consideration, to narrow the input tax credit cycle and facilitate their working capital requirements.
'If anybody defaults on something which is due for today, they have to disclose it tomorrow.' 'The accumulation of NPAs is due to asymmetry in information.' 'The investor should have real-time information.'
'We saw people tripping over each other, running, screaming.' 'You could see people running with their daily briefcase despite suffering deep cuts and blood pouring from them.'
It will launch jurisdiction-free assessment from October
This is the first big move in the investigation of the British Virgin Islands list where the I-T department has found a significant amount of tax evasion.
The chief statistician feels there should be a rebound after companies integrate and adopt the GST system
The income tax department has a steep collection target of Rs 9.8 lakh crore during 2017-18, rising 15.7 per cent from a year ago.
Apart from Modi, Jaggi Vasudev to address 2-day tax officers' conference
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