Says there is a case 'if voluntary compliance increases'.
'As CIC, you have the power to comment on policy matters. 'If you have very strong beliefs and you know your rulings will be reported, you will express your beliefs.'
Income tax collection, by way of advance tax and TDS, in the April-June quarter was about 80 per cent of what was collected in the same period last year.
As many as 44 shareholders of Flipkart sold their holdings to Walmart. The income tax law requires the buyer to withhold tax while making payment to the sellers, in case they are not exempted from levy of capital gains tax.
The crucial hearing on the PILs by a bench headed by Chief Justice D Y Chandrachud assumes significance in the wake of recent developments in which the Centre agreed to the apex court's proposal to set up a committee, likely to be headed by a former Supreme Court judge, to look into the regulatory regimes.
Fearing large-scale excise duty evasion by pan masala and chewing tobacco units, the finance ministry has issued strict warning to the sector and told them to give details of the packing machines at their units.
A fresh PIL was filed on Thursday in the Supreme Court seeking a probe by multiple central government agencies under the supervision of a panel or a former apex court judge against the Adani Group of companies following allegations of fraud and share price manipulation made by the US-based Hindenburg Research.
'If because of El Nino, the monsoon is affected adversely in the current year, naturally it will affect income projections and consequently Budget numbers.'
The British Govt amended the Special License enabling Chelsea FC to sell tickets to select competitions to fans
Policymakers are examining the possibility of increasing the tax-free slab to Rs 5 lakh in the two-year-old alternative personal income tax regime to make it attractive, a government official said. At present, taxpayers don't pay income tax if their taxable income is Rs 2.5 lakh and below. Increasing the threshold will reduce the tax outgo for assessees, thereby leaving more money with them to invest, the official said.
GST collections in February grew 18 per cent to over Rs 1.33 lakh crore in February even as the Omicron wave dented the month-on-month collection momentum. This is for the fifth time in the current fiscal that the Goods and Services Tax (GST) collection has crossed Rs 1.30 lakh crore mark. Also, this is the first time, cess collection has crossed the Rs 10,000 crore mark, signifying recovery in certain key sectors, especially automobile sales, the finance ministry said on Tuesday.
Sports Minister V Abdurahiman said 20 deaths were confirmed on the basis of information from various hospitals where those pulled out from the water and inside the boat were admitted.
'The government will take proactive steps to see that their participation in the equity market, especially in PSU stocks, is rewarding.'
Odisha is bracing for heavy rainfall early next week under the impact of a possible cyclone in the Bay of Bengal, which is likely to skirt the state and move towards West Bengal and Bangladesh, the Indian Meteorological Department (IMD) said on Friday.
The tourism industry plays a vital role in the town, accounting for 70 per cent of its economy, according to experts.
'It may be prudent not to plunge into a new online tax appeals system in one go, which could only create more disputes and increase the embarrassingly high tax arrears of the government,' warns A K Bhattacharya.
Andhra train mishap: Railways, govt agencies blame each other
Musk has blamed activists for a significant drop in the company's revenues.
'OPS is the first person in history to ransack his own party office.'
Service tax accounts for one-third of the total indirect tax collection in the country and the government expects to raise Rs 1.8 lakh crore (Rs 1.8 trillion) through the levy this fiscal.
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