Rahman had received Rs 3,47,77,200 from Libra Mobile during 2010-11 in his individual capacity as an artiste which must have been considered for taxation and this was not considered by the Assessing Officer in the reassessment order.
The principal commissioner has been made responsible for developing and approving any intelligence, conducting search, and completing investigations and relevant subsequent actions, including at the lower field formations, points out T N C Rajagopalan.
'We can hope to see a lot of creation of jobs in the days to come.'
It will also be new Revenue Secretary Sanjay Malhotra's first GST Council meeting. He will take charge after the incumbent Tarun Bajaj retires on November 30.
Justice Khanna, who will serve as CJI for a little over six months, will demit office on May 13, 2025.
Agencies, whether public sector or private sector, may have to pay goods and services tax on the charges they collect on behalf of the government from clients. The authority for advance rulings (AAR), Telangana, has ruled that e-procurement transaction fee collected by an agency on behalf of the government is chargeable to GST, said Rajat Mohan, senior partner at AMRG & Associates. The AAR also ruled that neither services provided by the agency to the government, nor services provided on behalf of the government to the business entities are exempt from GST, he informed about the case.
The net direct tax collection for the fiscal ended March 31 stood at Rs 9.45 lakh crore, an increase of 5 per cent over the revised estimates in the Union Budget. Central Board of Direct Taxes (CBDT) Chairman P C Mody on Friday said the income tax department has exceeded the revised estimates despite issuing substantial refunds in the 2020-21 fiscal. During the fiscal, the net corporate tax collection stood at Rs 4.57 lakh crore, while net personal income tax was Rs 4.71 lakh crore. Another Rs 16,927 crore came from securities transaction tax (STT).
The same day the tax sleuths had raided the house of DMK MP S Jagathrakshakan and some of those linked to him. The MP from Arakkonam has interests in a variety of business sectors.
The ambiguity arose after notices were sent to lenders for non-payment of service tax under the pre-GST regime
Kerala's tax authorities are also reviewing other e-commerce companies for similar discrepancies, and might fine more defaulters.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
According to a senior official of the Customs Department, the Finance Minister will hold review meeting on Service Tax Voluntary Compliance Encouragement Scheme.
The attached properties include 14 assets of Tuteja worth Rs 15.82 crore, 115 properties of Anwar Dhebar, the elder brother of Raipur Mayor and Congress leader Aijaz Dhebar, worth Rs 116.16 crore, properties of Vikash Agarwal alias Subbu worth Rs 1.54 crore and 33 properties of Arvind Singh worth Rs 12.99 crore, it said in a statement.
'Daswand' -- or the receiving of donations of one-tenth of a devotee's earning -- has landed self-styled spiritual guru 'Nirmal Baba' in trouble with a notice having been slapped on him for alleged Service Tax evasion of Rs 3.5 crore.
We the people are left in the wind, waiting on the whims of an unengaged president and an oligarch with a nearly bottomless wallet, observes Sree Sreenivasan.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
In a bid to reduce harassment of tax payers, the income-tax department is mulling setting up five centralised return processing centres in different parts of the country.
UK-based British Airways has been slapped a service tax notice by the Revenue Department asking it to pay the balance of Rs 143.5 crore (Rs 1.44 billion) liability on sale of tickets in India between May 2006 and November 2007.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
At least 200 investors have to furnish financial statements
Maharashtra Chief Minister Eknath Shinde on Wednesday claimed that the protest at Badlapur in Thane district over the alleged sexual abuse of two kindergarten girls was politically motivated and aimed at maligning the state government.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
UAE-based aviation support company Alna Aero Distributional Finance Holdings offered only Rs 1.09 crore.
The government has decided to provide the tax defaulters another chance to prove their loyalty to the IT department, by implementing a single time amnesty scheme.
From the Sensex basket, Tata Motors, State Bank of India, Tata Steel, Power Grid, NTPC, Bajaj Finserv, Bajaj Finance and Asian Paints were the major laggards.
The Income Tax Department on Tuesday said software services provider Infosys has been directed to look into the issue relating to malfunction of search option on the e-filing portal. After many users complained of issues while accessing the I-T portal and reported that it was hacked on Tuesday, which also happens to be the first launch anniversary of the portal, the department said Infosys is resolving the issue on priority. "Issue relating to the search functionality of the e-filing website has come to our notice.
Amid the heavy downpour in Bengaluru, residents of many flood-affected areas have taken to social media to pour out their woes ranging from waterlogging to complaining about "crumbling" infrastructure.
GST authorities have detected GST fraud of Rs 55,575 crore over the last two years and arrested over 700 persons for causing loss to the exchequer, an official said on Thursday. Over 22,300 fake GST identification numbers (GSTIN) were detected by the officers of the Directorate General of GST Intelligence (DGGI). The government on November 9, 2020, launched a nationwide special drive against unscrupulous entities for availing and passing on Input Tax Credit (ITC) fraudulently by issuing fake/bogus invoices, thereby evading Goods and Services Tax (GST).
The government's initiative to migrate SEZ data from NSDL software to ICEGATE system for streamlined reporting of import data caused double counting of gold imports, resulting in inflated figures and the issue has now been largely rectified, government sources said. The downward revision has provided the actual picture of trade deficit (difference between imports and exports), which was earlier looking very high. The deficit for November will now be revised downwards from $37.84 billion to about $32.8 billion. Similarly, there will be a revision in overall import numbers as well.
If, as promised, the refunds are done within 24 hours it will obviate one of the biggest reasons that taxpayers distrust the tax department -- delayed refunds especially in cases of large refunds.
Senior Congress leader Shashi Tharoor on Tuesday attacked the Centre over the glitches in the new income tax portal, alleging that even after spending Rs 4,200 crore on it, the government had "failed" to make it user-friendly and created a "mess" instead.
SGI Commex chairman G S Srivastava, an art connoisseur, said the aircraft, an Airbus A319-133 with registration of CJ VT-VJM, will be converted into an art pilgrimage venture
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
'The corporate tax cuts will obviously result in lower tax payments by companies,' says Central Board of Direct Taxes member Akhilesh Ranjan who retires after 37 years in government service.
Apart from Modi, Jaggi Vasudev to address 2-day tax officers' conference
SGI Commex contended that though it had won the bid, it is yet to receive a communication from the department to this effect and unless it gets such a letter, it will not be in a position to pay the dues claimed by MIAL
Finance Minister Nirmala Sitharaman on Tuesday asked Infosys and its chairman Nandan Nilekani to fix technical glitches being encountered on the income tax department's new e-filing website, after users flooded her Twitter timeline with complaints. Infosys was in 2019 awarded a contract to develop the next-generation income tax filing system to reduce processing time for returns from 63 days to one day and expedite refunds. The portal went live Monday evening.
Vodafone pleaded in High Court that IT department had no jurisdiction in the transfer pricing case because the said transaction was not international and did not attract tax.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances