A finance ministry official said Vodafone had threatened arbitration against something that had not happened. He said the UK-based telecom company was presuming it might happen.
Higher online filing of returns that is expected in the ongoing financial year will enable faster processing of claims and hence a further increase in refunds.
To ensure its financial inclusion drive is not restricted to meeting branch opening targets, the Union finance ministry is to ask banks for a performance report of the 'ultra small' branches set up in the past two years in about 73,000 villages.
May take Rs 1,000-crore hit to re-route country's longest slurry pipeline
A senior income tax department official in the know of the discussions to have taken place in the finance ministry said the ministry was looking into the issue as a possible option.
The next time Amitabh Bachchan hosts Kaun Bangea Crorepati or Sachin Tendulkar hits a ton in an Indian Premier League match, the taxmen may come knocking on their doors.
Budget likely to list tax-exempt items as finance ministry, states agree
The question is which tool it should use to shift gear.
The idea is to save customers the inconvenience of opening and closing bank accounts or keeping multiple accounts if they have to shift to a new location or find their bank's services unsatisfactory.
More than one-third of this amount (Rs 6,000 crore or Rs 60 billion) is likely to go to the country's largest lender, State Bank of India, while the demand for most other banks is less than Rs 1,000 crore (Rs 10 billion) each.
Pay healthy advance tax, but can't make up for large companies' volumes.
Wants all services included in tax, with a negative list.
The much-awaited talks between India and Mauritius over renegotiation of their tax treaty may begin soon, with India pushing for changes in the clause on the treatment of the capital gains tax.
A couple of options are on the table, from buyback, cross-holding, selective public offers of only big companies to residual stake in companies with minority government ownership.
Finance Minister Pranab Mukherjee is likely to oppose suggestions to introduce a financial transaction tax, commonly known as tobin tax.
The slowdown fear, as substantiated by various parameters like the HSBC Purchasing Managers' Index as well as the Index of Industrial Production, has gripped large companies but the smaller entities still seem hopeful of excellent growth. At least, tax collection figures show this trend.
Kejriwal's supporters have bombarded Income Tax offices with cheques and demand drafts, offering to pay his tax dues.
Under pressure on the black money issue, the government plans to monitor high-value savings and investments more closely to net tax evaders.
Budget documents in the future may give a preview of the government's finances for the next few years. The finance ministry is considering moving to a multi-year approach in budgeting to utilise resources better and bring in more transparency in accounting, according to official sources.
E-filing through the Centre's online tax payment application Automation of Central Excise and Service Tax will be a must not only for returns due after October 1, but also for returns of past periods which have not been filed yet or are to be revised.
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