There have been demands from bankers and insurers to hike the tax exemption limit from Rs 100,000 per annum to encourage household savings.
The income tax department on Wednesday conducted raids in multiple states as part of a pan-India tax evasion probe against certain registered unrecognised political parties (RUPP) and their alleged dubious financial transactions, official sources said.
In its drive against tax evasion, the finance ministry is planning to add to the list of high-value transactions required to be reported to the revenue department in annual information returns (AIRs).
A bitter dispute has broken out in the Rajkot royal family of Gujarat over the ancestral property worth hundreds of crores with one of the members moving court.
Kartik Kumar, a Rashtriya Janata Dal MLC, who became the state's law minister in the new Nitish Kumar government, resigned hours after being moved to a lesser significant Sugarcane Department on Wednesday night.
IT services firm HCL Technologies on Friday reported a 16.7 per cent increase in net profit at Rs 2,014 crore for the quarter ended September 2016.
Three months have passed, but the Maharashtra government has not been able to finalise its report on the results of the September 22 referendum it had organised in 22 villages of Raigad district that form part of the 10,000-hectare Mumbai Special Economic Zone developed by Jai Corp, a company promoted by Reliance Industries chairman Mukesh Ambani's close associate Anand Jain.
Coming Wednesday, Finance Minister (FM) Nirmala Sitharaman will present the 2023 Union Budget - the last full Budget ahead of the 2024 Lok Sabha elections. While India exited 2022 as a relatively bright spot in the global economy, the FM will endeavour to present a Budget that insulates India's economy against global headwinds and recession in advanced economies, while sticking to the path of fiscal consolidation. In this, she is being helped by her core team of trusted advisors.
The form will be redesigned in such a way that investors could fill up most of the details themselves
His value lifestyle brand Zudio signals a coming of age of retail in small town India.
If you have any grievances or disputes regarding the demand stated in the notice, consider seeking professional help.
The case relates to RTI applicant S P Manchanda, who sought to know from the revenue department of Delhi government the registration details of a property traded by him in 2000 but was informed that they do not maintain the property-wise list.
Maharashtra Chief Minister Ashok Chavan, whose name has been linked to a property scam related to the Adarsh Society in Colaba, Mumbai, attempted to clarify his stand on Friday.
Hundreds of people are being evacuated from coastal villages in Kutch district in view of cyclone Biparjoy, but authorities are facing a challenge as many villagers are reluctant to leave their livestock and belongings behind.
The bodies of 13 people who were killed in a landslide at Plaupally in Koottikkal village (Kanjirapally Taluk, Kottayam District) were recovered.
An ordinance to protect Hindu temples and manage their affairs across Kashmir Valley is in the offing.
The Comptroller and Auditor General of India (CAG) has pointed out several flaws in the financial practices of the Gujarat government and said there was a need to formulate a realistic budget based on the needs of the departments.
In a counter affidavit filed in the court, the department has said that temporary transfer of rights to copy in a limited manner will be chargeable to service tax.
The new limits for filing appeals by the Income Tax department before the Income Tax Appellate Tribunal (ITAT), high courts and the Supreme Court have been revised to Rs 3 lakh, Rs 10 lakh and Rs 25 lakh, respectively, from Rs 2 lakh, Rs 4 lakh and Rs 10 lakh.
May adopt dtrict action including prosecution and property attachment.
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
A K Bhattacharya lists three reasons why Finance Minister Arun Jaitley will most likely present a full Budget on February 1, 2019.
In a major bureaucratic reshuffle, the Madhya Pradesh government has transferred 33 Indian Administrative Service officers including some collectors and principal secretaries.
Concerned over rising incidents of tax evasion, a Parliamentary Committee on Thursday asked the government to keep a close watch on high spending individuals and also take steps to reduce tax arrears.
The departments of income tax, sales tax and excise were named by two Supreme Court judges as the most corrupt ones anywhere in the country.
The government has slapped a notice of Rs 5 crore demand on trusts run by Ramdev in connection with alleged service tax evasion while organising their yoga camps.
Gurgaon administration has attached around 100 acre land "illegally" occupied by singer Daler Mehndi for his farm house at Sohna, about 15 km from Gurgaon.
The income and profits shown by various BBC group entities are "not commensurate" with the scale of their operations in India and tax has not been paid on certain remittances by its foreign entities, the income tax authorities said Friday, a day after they ended a three-day-long survey operation against the British media organisation.
'Each state and central government body may be asked to update its system to ensure PAN is used as a common identification to access its services.'
No violation of rules or regulations were found in the transfer of land by businessman Robert Vadra's Skylight Hospitality to realty major DLF, the Haryana government has told the Punjab and Haryana high court in Chandigarh.
Suella Braverman, an Indian-origin barrister, was appointed as the UK's new Home Secretary by Prime Minister Liz Truss earlier this week
At least 120 insurance intermediaries and aggregators from across the country are under scrutiny, mainly from Mumbai, Gurugram and Bengaluru.
The water level of the Yamuna in Delhi breached the danger mark again on Sunday following a surge in discharge from the Hathnikund Barrage into the river after heavy rain in parts of Uttarakhand and Himachal Pradesh.
The action has been taken against officials harassing tax assesses.
A positive list for taxation of services might be back, though only for accounting purposes.
Underlines need to reduce human interface; wants tax e-assessment in more cities
He, however, acknowledged the need for further efforts from the revenue department.
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