There has been criticism of the new tax forms with experts and consultants saying government was seeking too much data. They felt that the addition of new information would make the process of filing returns difficult.
This could come as a huge relief as majority of the FIIs operating in India are registered in tax havens. The discussion paper also removed the ambiguity on income classification for tax computation.
In the era of e-filing, small mistakes lead either to delayed or complete denial of income tax refunds. So, avoid these 5 common mistakes that could lead to delay in refunds.
Amid tax treaty uncertainties, India's share of the number of investments made by global companies through Mauritius has almost halved in the past two years even as Africa's share has surged significantly.
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Such direct import was formally allowed in February 2012 but the aviation companies lack the infrastructure to do so.
FM may increase income-tax exemption limit to Rs 3 lakh
The new Land Acquisition Act to provide just and fair compensation to farmers came into force from January 1, 2014.
The challenge is to enhance opportunities for people to generate livelihoods through entrepreneurship, both big and small, argues R Jagannathan.
Minister of State for Minority Affairs Mukhtar Abbas Ansari believes a national debate on a Uniform Civil Code is a must. 'The need of the hour is to debate this issue at length in order to create a consensus,' Ansari tells Rediff.com, adding, 'Such a debate must take place at the grassroot level. We must understand all the divergent viewpoints before any draft can be prepared.'
There will be some populist announcements in Budget.
The agency has also summoned Rajasthan Chief Minister Ashok Gehlot's son Vaibhav Gehlot for questioning in a case related to alleged contravention of the foreign exchange law, official sources said on Thursday.
Nine out of ten terror cases that are reported have had a hawala transaction, reports Vicky Nanjappa
A fresh PIL was filed on Thursday in the Supreme Court challenging the Centre's decision to block a BBC documentary on the 2002 Gujarat riots.
Lok Sabha passed the Finance Bill, after approving more than two dozen official amendments, by voice vote, thus completing the Budgetary exercise for 2019-20 in the Lower House.
Prime Minister Narendra Modi on Tuesday said India will become the growth engine for the world in the coming years, and the ease of doing business has improved with "mission-mode" reforms being undertaken by his government. Speaking at the BRICS Business Forum Leaders' Dialogue in Johannesburg, Modi also said India soon will become a $5 trillion economy.
Ahead of the Economic Survey, industry body Ficci today lowered its GDP growth forecast for the current fiscal, pegging India's economic expansion rate at 5.3 per cent compared to its 5.5 per cent previous estimate.
The basics and history of India's tax policy suggests that increase in the number of taxpayers has occurred and so has compliance with a reduction of tax slabs and moderate rates of tax.
Sources said much has been done to ease the tax burden of the middle classes in the last five years, and that such a measure affects only a limited segment of people when the focus should be to put money in rural areas. Archis Mohan reports.
There was no law that prevented the government from presenting a sixth full Budget, or something similar to it.
A taxpayer filing ITR electronically without digital signature has to verify it using either Aadhaar OTP, or logging into e-filing account through net banking, or by Electronic Verification Code or by sending a duly signed physical copy of ITR-V through post to CPC Bengaluru within 120 days of uploading the ITR.
Jaitley said a very large number of reforms have taken place over the last few years and that has helped in restoring the credibility of the Indian economy
Taxpayer satisfaction is a part of the matrix of key performance indicators of the administration.
The Kerala Story is among a long list of films that invited bans and censorship.
The implications aren't too significant, given the size of Ukraine and its role in the global economy.
A Delhi court on Tuesday sent to 10-day judicial custody NewsClick founder Prabir Purkayastha and human resources department head Amit Chakravarty, arrested in a case lodged under anti-terror law UAPA over allegations that the news portal received money to spread pro-China propaganda.
The Economic Offences Wing of the Delhi Police has filed an FIR against former BharatPe co-founder Ashneer Grover, his wife Madhuri Jain Grover and family members Deepak Gupta, Suresh Jain and Shwetank Jain for an alleged Rs 81 crore fraud after a complaint by the fintech unicorn. The FIR, a copy of which has been seen by PTI, was filed under eight sections of the Indian Penal Code, including 406 that deals with criminal breach of trust, 420 (cheating and dishonesty), 467 and 468 (forgery). BharatPe in the complaint alleged that Grover and his family caused damages of about Rs 81.3 crore through illegitimate payments to bogus human resource consultants, inflated and undue payments through passthrough vendors connected to the accused, sham transactions in input tax credit and payment of penalty to GST authorities, illegal payment to travel agencies, forged invoices by Madhuri Jain and destruction of evidence.
Finance minister Arun Jaitley has delivered a Arun Jaitley delivered a bold, far sighted budget
Amid a debate on the freebies, the Election Commission on Tuesday proposed amending the model code to ask political parties to provide authentic information to voters on the financial viability of their poll promises.
A survey, with over 3,700 respondents across digital platforms, found that transparent taxation has been one of the most significant initiatives of the government followed by the production-linked incentives (PLI) scheme, equalisation levy and new labour codes.
Corporate India tempered its victory celebrations for the supposedly business-friendly Narendra Modi-led National Democratic Alliance's landslide electoral victory by highlighting the need for immediate steps to create jobs through inclusive economic growth.
Decoding four important provisions in the Finance Bill 2018.
'We want to achieve overall profitability, and then we would go for an IPO.'
Pradhan Mantri Jan Dhan Yojana and Make in India -- are not covered here.
It will launch jurisdiction-free assessment from October
'We have promised to ensure reduced tax rates.'
Officials say that such a list, to be updated on a real-time basis, will serve as a ready reckoner in identifying those committing multiple economic offences
Congress is opposing the GST bill in the current form.
Scrutiny of Google's code of conduct in the Indian Android ecosystem is far from over with several start-ups preparing to appeal against the company's revised policies of service fee on in-app purchases and subscriptions, according to sources in the know. This comes days after the National Company Law Appellate Tribunal (NCLAT) granted partial relief to the tech giant, reversing four of the 10 key non-monetary directives that would have forced Google to allow uninstalling of its pre-installed apps on Android devices. Paytm, BharatMatrimony, and ShareChat are among the start-ups that are likely to file grievances against the tech major for alleged non-compliance with the Competition Commission of India's (CCI's) cease-and-desist order on Play Store policies.
One of the lawyers representing the two Youth Congress workers confirmed that the court of judicial first class magistrate in Thiruvananthapuram directed the Valiyathura police to register an FIR.
Finance minister tries to put house in order before reforms are unveiled in February.
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