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Voluntary Compliance Encouragement Scheme

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Tax evaders, BEWARE!The Income Tax department is using AI data analytics to bust fake deductions, flag HRA fraud, and trace digital footprints. Kindly note this illustration generated using......

Thinkfest: Revenue dept looking into tax paymt by event mgmt co

The Central revenue department is inquiring into the payment of service tax by the event management firm which had organised the controversial Thinkfest on behalf of the Tehelka magazine. "We......

'This government is particularly ruthless'

'Today we see the worrisome phenomenon where honest officers who run afoul of the government being chased, hunted down and dirt being dug up on them.' IMAGE: Prime Minister Narendra Damodardas......

Govt proposes compliance scheme for service tax defaulters

Aiming to "entice" a large number of assessees to return to the tax fold, the government on Thursday proposed a one-time scheme called 'Voluntary Compliance Encouragement Scheme' for service tax......

FM to hold review meet with Customs, Excise officials tomorrow

Union Finance Minister P Chidambaram will hold a review meeting with senior officials of Customs, Central Excise and Service Tax in Hyderabad on Wednesday. According to a senior official of the......

Budget focuses on domestic consumption amid global uncertainties

The Budget 2025-26 meets the expectations of fiscal consolidation, maintaining capital expenditure, and boosting consumption through tax cuts. Photograph: Rahul Singh/ANI Photo There are many......

Come clean or face punishment: FM to service tax defaulters

In a stern warning to service tax defaulters, Finance Minister P Chidambaram on Thursday asked them take advantage of the voluntary compliance scheme and come clean or face punishment. "Pay your......

FinMin confident of achieving 4.8% fiscal deficit target

Encouraged by the response to the Service tax amnesty scheme, the Finance Ministry on Friday exuded confidence in meeting the fiscal deficit target of 4.8 per cent for the current financial year.......

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