Congress is opposing the GST bill in the current form.
Finance minister tries to put house in order before reforms are unveiled in February.
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
'We have promised to ensure reduced tax rates.'
This means taxpayers might continue to enjoy exemption on maturity of their investments
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.
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.
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.
Democratic presidential nominee Hillary Clinton on Monday took a dig at the tax return expose of her Republican rival Donald Trump by questioning his business credentials.
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 rupee has been falling for five straight weeks, taking its losses this quarter to 6.6 per cent, making it the worst performing currencies in Asia during this period.
Lowering excise duty on petrol, diesel, and other fuels, branded fuels.
For the second year in a row, India has been recognised as the fifth-best performing nation in reforming the business environment. However, in the two categories that the government was banking on most - "Paying Taxes" and "Resolving Insolvency" - landmark reforms that were expected to yield better results have had the opposite effect. Under the circumstances should the country celebrate already or are there any reasons for worry, wonders Subhayan Chakraborty.
Taxpayers will have to disclose all bank accounts held by them in India.
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.
'We want to achieve overall profitability, and then we would go for an IPO.'
Even after filing your income tax return online, your job won't still be over! Here is a six-point checklist for taxpayers to be observed after e-filing of ITR.
Till such time that a new governance framework comes into being, the progress of reforms in health, education, land, labour, electricity and agriculture could remain fraught with problems, agitations and delays, observes A K Bhattacharya.
...for others it would be an incentive to participate more robustly in equities and other tax instruments.
The Budget sets out a comprehensive vision.
The text of the Income tax amendment is so wide and so riddled with ambiguities that it deserves to be scrapped for those reasons alone, says N S Nigam.
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.
An online system generates import-export code.
There are tell-tale signs of a slide in the quality of Budgets presented by the current administration, says Parthasarathi Shome.
While the two-phased assembly polls voting has concluded in Assam, in West Bengal two phases have completed while four more remain.
Now the processing of return filed will be through your Aadhaar Number, where, you can link it with your PAN and get rid of sending ITR V to CPC, Bangalore.
It would be ludicrous to expect Modi, Erdogan or Biden to pay to keep blue ticks on their respective official accounts. It would be equally ludicrous to expect the Delhi Metro or the Income Tax Department to pay, points out Devangshu Datta.
Stock exchanges have increased scrutiny of investors domiciled in Sikkim, following reports of illegal routing of investments through the Northeast state to evade taxes. The National Stock Exchange (NSE) has directed its trading members (brokers) to re-verify and certify investors who have declared their permanent address as Sikkim. Further, brokers have been told to maintain a vigil on the location of devices used by Sikkim-based clients for trading to ensure these are genuine investors from the region.
Tax sleuths have detected over Rs 52 crore of unexplained cash in jewellers' bank accounts
Congress President Sonia Gandhi on Wednesday released the party's manifesto and claimed that the party will perform well in the forthcoming Lok Sabha polls.
Outcome of Assembly polls in five states will set the tone for the winter session of Parliament beginning on Thursday though the government has listed a heavy legislative agenda and opposition is demanding extension of the 12-day sitting.
In a debacle for Barack Obama and the Democratic Party, Republicans today gained control of the United States Senate and increased its majority in the House of Representatives in a sweeping midterm election win that could complicate the President's final two years in office.
The new measure will ease the process of quick generation of refunds of taxpayers.
It said the sleuths have recovered Rs 14.6 crore of "unaccounted" cash and seized diaries and computer files of suspect payments made between Madhya Pradesh and Delhi.
The remarks by the CJI came against the backdrop of the recent remarks by Vice President Jagdeep Dhankhar who questioned the landmark 1973 Kesavananda Bharati case verdict that gave the basic structure doctrine.
Prasanna D Zore/Rediff.com reports on the chaos facing taxpayers with the income tax department making changes to ITR 2 and 3 forms just before tax-filing deadline.
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The ball is now in the Reserve Bank of India's court to lift up demand, says Ajay S Shriram.
The Indian business community wants to see a strong stable government with a willingness to reform, break down the shackles of the past which is holding India back.
This was not the first time "Wiki" - a widely used, free resource - was appealing for funds. Finally, reports indicated that Google had agreed to pay for Wikipedia content.
After the case was registered, the CBI carried out searches at four places in the national capital and Bengaluru.
