The Union finance ministry has asked field officers of the income tax department to not be adversarial to assessees, and to not send high-pitched demands without a proper basis.
"You cannot play hide and seek with the court," Justice Suresh Kait said.
Taxpayers filing their I-T returns this year will now have to share their email-id and mobile phone number with the tax department.
The Central Board of Direct Taxes, the apex policy making body of the I-T department, has been undertaking a host of steps to bolster the litigation management wing of the department which has come under criticism not only from courts but also successive Finance Ministers and in the audit reports of the Comptroller and Auditor General.
Modi wants the BJP to gets an additional 10% of the vote share from what it won in 2019. Plans are afoot to get new faces to replace MPs with poor chances of winning. Sources say more than 100 MPs are like to be axed, notes Modi biographer Ramesh Menon.
Authorities on Saturday continued to dig up currency to the tune of lakhs of rupees, including in new notes, across the country.
Any judgement on whether the March numbers reflect sustainable growth in GST collection should ideally await the numbers that will be out in May, points out A K Bhattacharya.
Those who have crossed 50 must show the greatest urgency. They need to achieve a corpus that can sustain them and their spouses for at least 25-30 years after retirement.
A bench headed by Justice S H Kapadia asked the company to challenge the ruling before an appropriate high court. The apex court also stayed both the AAR order and the assessment till the company moves a high court. On May 9, the AAR said that income of Foster's Australia Ltd from the transfer of its right, title and interest in trademarks and Foster's brand intellectual property is taxable in India.
In the June quarter of FY24, 51 per cent of consumers who took small-ticket personal loans already had more than four credit products at the time of accessing yet another new loan, compared with just 17 per cent in the June quarter of FY20, points out Tamal Bandyopadhyay.
'The BJP think they are running an ideology machine in this country, and they have to convert everyone, from people to parties to party leaders.'
Finance Minister Arun Jaitley said political parties will be entitled to receive donations by cheque or digital mode from their donors.
Income from renting of properties is taxed at a flat rate of 10%.
APAs are part of govt's aim to move to a non-adversarial tax regime.
Jaitley said note ban has compelled people to deposit money into bank accounts.
These schemes are a good choice for investors contemplating a large investment in equity funds. Instead of investing all the money in one go, they can do so in a staggered manner by parking it in these schemes and then transferring it to equity mutual funds through a systematic transfer plan.
Filing with inadequate disclosure of assets will be liable for prosecution
Kochhar has been issued a showcause notice by the regulator for alleged violation of the code of conduct.
Going by the number of changes Mr Jaitley's next Budget is likely to see, he will go down in the history of Budget-making as the finance minister who ushered in the largest number of changes in a single Budget, says A K Bhattacharya.
Don't create an "atmosphere of fear", the Supreme Court Tuesday told the Enforcement Directorate (ED) after the Chhattisgarh government alleged the probe agency is "running amok" and is trying to implicate Chief Minister Bhupesh Baghel in a money laundering case linked to the alleged Rs 2,000 crore liquor scam in the state.
Apart from Modi, Jaggi Vasudev to address 2-day tax officers' conference
The entire operation was meant to have a chilling effect on independent journalists, those not completely subservient to the regime, the small section still doing what the Fourth Estate should do -- raising questions to those in power.
'The long maturity of these funds makes them well-suited for long-term financial goals such as saving for retirement or children's education or marriage.'
TMFs invest in a public index, so investors know beforehand which instruments the fund will invest in.
'People try to repay the BIGGEST LOAN first. Actually, you should repay the most expensive loan first.'
Direct tax collections missed the revised target for 2019-20 by Rs 1.42 trillion at Rs 10.27 trillion, an 8 per cent fall over the previous year.
While she primed up spending on infrastructure to create jobs and boost economic activity, Sitharaman did not tinker with income tax slabs or tax rates. Her Budget for the fiscal year beginning April 2022 proposed a massive 35 per cent jump in capital expenditure to Rs 7.5 lakh crore, coupled with rationalisation of customs duty, an extension of time for setting up new manufacturing companies and plans for starting a digital currency and tax crypto assets.
Lalu expressed his resolve to unite the opposition against Bharatiya Janata Party in the next general election.
The Budget has unveiled measures that should now pave the way for India to progress from Make in India to 'Innovate in India'.
Revenue from divestment has fetched Rs 40,000-50,000 crore against target of Rs 2.10 trillion.
Vadra's anticipatory bail application is likely to be heard by the court on Saturday.
'You need to have enough funds to maintain the primacy of public transport and it should not suffer because of lack of funds.'
Third parties can be used to launder the proceeds of fraud schemes by criminals who gain illegal access to deposit accounts by recruiting them as 'money mules'
Congress charged the entire BJP and the government with "aiding and abetting" Lalit Modi, a fugitive.
A company statement said the couple is facing a case filed by the Central Bureau of Investigation for the last two years, and sought to link the action with muzzling of free speech and freedom of the press.
Did you know that you can get a tax benefit of up to Rs 50,000 under a health insurance policy?
In order for somebody to do Big Brother kind of a job, one has to collect lots of data. Aadhaar collects very minimal data whether at the time of enrollment or at the time of authentication.
Four-time world player of the year Lionel Messi would soon face trial for alleged tax evasion; a Spanish judge has ruled and might face a six year jail term if convicted.
The Supreme Court on Thursday pulled up the income tax department and the Central Bureau of Investigation for not taking action in the last five years on information gathered from tapped phone conversations of Niira Radia with corporate honchos, politicians and others, saying it is "not a happy situation".
Parliamentary Standing Committee on Human Resource Development headed by Satyanarayan Jatiya has slammed SAI for not roping in sportspersons even 20 years after being asked for restructuring of the "unwieldy and monolithic bureaucratic organisation
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