As many as 12,394 complaints of alleged corruption were received against railway employees.
President's Rule can be revoked before the six-month period if a situation emerges for formation of a stable government.
The Central Board of Direct Taxes has asked field officers to augment tax collections by ensuring that sectors growing at faster rates compensate for those growing slower.
Go First's lenders have agreed in principle to support the airline's request for Rs 400 crore interim funding to restart its operations. The airline temporarily halted operations on May 2, and its insolvency plea was admitted by the National Company Law Tribunal (NCLT) on May 10. On Wednesday, the airline's resolution professional Shailendra Ajmera submitted a business plan and a request for over Rs 400 crore funding to airline's committee of creditors (CoC).
Corp tax arrears at over Rs 3.11 trillion as of Dec 2014.
Recently, Finance Minister Pranab Mukherjee had assured industry that the government was open to re-examining proposals in seven key areas.
Finance Minister Nirmala Sitharaman on Saturday said the new tax regime will benefit the middle class as it will leave more money in their hands. Talking to reporters after the customary post-Budget address to the central board of the RBI, she said it is not necessary to induce individuals to invest through government schemes but give them an opportunity to make a personal decision regarding investments. "...the way we allowed for standard deduction and also the rates which have been fixed, tax rates which have been fixed for different slabs, it has actually left more money in the hands of the people, the taxpayer, the household," she said.
By setting up Central Technical Committee, the Central Board of Direct Taxes aims to bring clarity on contentious legal issues and reduce litigation by adopting a consistent approach on them.
The government on Tuesday extended till March 15 the deadline for corporate to file Income Tax returns for the fiscal ended March 2021. The deadline to file tax audit report and transfer pricing audit report for 2020-21 fiscal too has been extended till February 15. This is the third extension given to corporate for filing the income tax return for 2020-21 fiscal.
This is the seventh time that the government has extended the deadline for individuals to link their PAN with Aadhaar.
The faceless authority has suggested a host of changes in the assessment process following conflicts and practical difficulties raised by taxpayers since the new regime was introduced. On August 3, the National Faceless Assessment Centre issued a set of standard operating procedures (SOPs) to address several anomalies in the regime. The faceless centre, constituted by the Central Board of Direct Taxes, is the nodal authority and works as an interface for the faceless regime.
The gross direct tax collections in April-June this year were up by 23.91 per cent at Rs 1,04,136 crore (Rs 1,041.36 billion) as against Rs 84,041 crore (Rs 840.41 billion) during the same period a year-ago.
Also, a dedicated cell, headed by a member of the Central Board for Direct Taxes (CBDT), will be set up to address concerns faced by start-ups.
This is the fourth extension given by the government for taxpayers to file both original and revised ITRs for 2018-19 fiscal.
However, the bill will have all major provisions of the ordinance, promulgated by the central government on May 19, a week after the Supreme Court handed over the control of services in Delhi excluding police, public order and land to the elected government headed by Chief Minister Arvind Kejriwal.
They described the functioning of the interlocking system which prima facie seemed to have been part of the problem which led to the accident, in which at least 275 people were killed.
Multiple agencies to probe, regulatory crackdown on more companies expected.
'There are problems related to the Indian film industry that I'd like to address rather than to keep harping on the negative zone of hurdles in film certification,' Minister for Information and Broadcasting Rajyavardhan Rathore tells Subhash K Jha.
Mishra said that the court has fixed July 7 for the next hearing.
A separate and dedicated window for grievance redressal has been launched recently.
Get your lowdown on what's going on in the world of Hindi films right here!
He also said Prime Minister Narendra Modi is expected to take part in an event related to the pran pratishtha on any day during January 20-24.
Sisodia had sought bail to attend to his ailing wife.
There have been demands for an extension in filing ITR date since issuance of TDS statement for 2018-19 fiscal was delayed.
With this, 85 officers, including 64 high ranking ones, have been compulsorily retired.
The Central Industrial Security Force (CISF) has prepared a pool of more than 100 personnel to man additional security counters expected to be handed over to it for easing the ongoing congestion at large airports of Delhi and Mumbai, official sources said Wednesday.
Chairman of the Central Board of Direct Taxes (CBDT), Prakash Chandra, has asked the income tax (I-T) department to hasten court and tribunal proceedings to meet tax collection targets in the coming quarters.
The Central Board of Secondary Education has directed disciplinary action against principal of a school which expelled Ruchika Girhotra soon after she complained of molestation by ex-DGP SS Rathore nearly two decades ago, but the school management defended her saying she was "innocent".
The tax authorities may tell banks and crypto exchanges to report transactions of virtual digital assets (VDAs) as the government begins taxing gains from cryptocurrencies and non-fungible tokens from April 1. So far, the tax department has relied on voluntary disclosures on transactions of VDAs. Once implemented, the sale and purchase of digital assets will reflect in the Annual Information Statement (AIS). The AIS contains details of at least 46 of the financial transactions done by a taxpayer in a financial year.
A senior CBDT official said the idea was to use TDS as a major driver to meet the stiff direct tax collection target of Rs 5.33 lakh crore in the current financial year.
The Supreme Court on Wednesday issued notices to the Centre and the Reserve Bank of India on a petition seeking probe into the alleged money laundering by the trustees of Mumbai's Lilawati Hospital.
10% TDS only on dividend paid by mutual funds, not on redemption of units: Tax dept
The government has tweaked the income tax laws to make it easier for the new owners of loss-making public sector undertakings (PSUs) to carry forward the accumulated losses and set them off against future profits. This will result in significant tax savings for the new owners if they are able to turnaround operations of the ailing PSU within a few years. This will, in turn, boost the post-tax earnings and returns for the new owners.
A bench comprising Chief Justice J S Khehar and Justice D Y Chandrachud allowed Karti to be accompanied by a lawyer at the CBI headquarters during the questioning.
The finance ministry has directed the Central Board of Direct Taxes to put in place a framework for an Advance Pricing Agreement mechanism, two officials familiar with the development said.
Brokers have requested for a three-month extension from the Securities and Exchange Board of India (Sebi) for the validation of Know Your Client (KYC) records. In a letter to Sebi, industry body -- Association of National Exchanges Members of India (Anmi) -- has cited various issues and concerns raised by its members that have hampered the smooth completion of the validation process within the stipulated timeline. The Sebi circular had given KYC Registration Agencies (KRAs) a timeline of 180 days, ending on April 30, 2023, to validate client KYCs.
The differences revolved around the two topics of how much reserves the RBI should carry and whether the finance ministry had precipitated matters by invoking Section 7 of the RBI Act, that allows it to give directions to the RBI in public interest.
The Supreme Court on Monday directed authorities to remove a mosque from the premises of the Allahabad high court within three months, telling the petitioners that opposing the demolition that the structure stood on a terminated lease property and they can't claim it as a matter of right to continue.
Taxmen are opposing proposals to cut personal income and corporate tax and scrap taxes on various transactions.
'Personal income tax collections have been high on account of impressive advance tax mop-up.'
