The Gujarat high court on Monday said it does not have faith in the state machinery which gets into action only after innocent lives are lost, as it pulled up the Rajkot civic body over the purported lapses in functioning of the game zone facility where a massive fire killed 27 persons.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The Maharashtra cabinet on Thursday cleared a proposal that offers an option of availing the Old Pension Scheme (OPS) to the state government employees who joined the service after November 2005.
Tata Sons has moved the Supreme Court against an estimated Rs 300-crore (Rs 3-billion) sales tax demand from the Maharashtra state government.
The revenue department is examining the service tax on industry and service providers, particularly in the telecom sector, to ensure that there is no incidence of double taxation, an official of the department said.
The British government has strongly defended the BBC and its editorial freedom in Parliament after the Income-Tax department's survey operations on the United Kingdom-headquartered media corporation's New Delhi and Mumbai offices over three days last week.
'There are unscrupulous traders who create fake invoices by showing bogus e-way bills, movement of goods.' 'Since the entities registered across different states, and kept on changing their numbers, tracing them was difficult.'
The business would also not be allowed to claim any un-availed input tax credit for "goods lost" or "destroyed".
The I-T department expects that some more revenue would be garnered.
The development is expected to pave way for greater transfer pricing cooperation between the two countries, enhance investment flow
Banks and friendly neighbourhood jewellers can serve as good channels to provide liquidity for gold deposits with built-in incentives for them, suggests Harsh Roongta.
The Central Board of Direct Taxes has urged the Income-Tax department to ensure enhanced accountability and probity in public dealings and see to it that honest and tax compliant people are treated with "dignity and courtesy".
Mayawati recently appointed her brother Kumar as national vice president of the Bahujan Samaj Party.
The department plans to give taxpayers the facility of applying for tax refunds and tax credits through ATMs.
The strike notices were given by workers' unions of various sectors such as coal, steel, oil, telecom, postal, income tax, copper, banks and insurance.
The new AIS is expected to make the taxpayer's task of filing ITR easier and faster, points out Bindisha Sarang.
A robust dispute settlement system would help the government unlock tax revenues, and also aid ease of doing business.
Decision-making is stretched because of differences in views between ministries.
Individuals can now get a new Permanent Account Number through Aadhaar-based e-signature facility.
A bench of Justices Surya Kant and JK Maheshwari set aside the pre-arrest bail granted to Indian Revenue Service officer Santosh Karnani on an appeal by the Central Bureau of Investigation.
Seven of the meetings will be held in late November or early December at the finance ministry, as is the norm.
The government has de-frozen the bank accounts of debt-ridden Kingfisher Airlines and Air India after the two air carriers made part-payment of their service tax dues.
The income tax department has repatriated Sunita Kejriwal, senior Indian Revenue Service officer and wife of Team Anna member Arvind Kejriwal who was recently in the midst of a row with the government over pending service dues.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Clarity on the roadmap necessary to assess its likely impact on near-term fiscal health and investment.
New norms for issuance of PAN card requiring verification of original documents have been put on hold.
Move to address MNCs' taxation woes; UK likely to be the next.
Without Form 16, tax computation becomes cumbersome
A department committee, set up to look at ways to expand the TDS net, is scheduled to meet in Hyderabad to discuss the proposal. hile some services like contracts, construction and rentals are under the TDS net, a large number of services like beauty treatment, connectivity between mobile operators, event management, credit rating agencies, market research firms and authorised automobile service stations are not.
"Is this a case for NSA?," the bench asked the state's counsel while observing that this is why allegations of political vendetta crops up.
Ironically, West Bengal, which has been seeking a postponement of the GST roll-out, has fared better among most other states.
Employees should review the accuracy and completeness of the information provided in Form 16. They should confirm that all the tax deducted has been credited correctly.
The Centre received 5.59 lakh public grievances against various government departments in the first half of this year, with the Department of Financial Services (DFS) getting most of such complaints, according to an official report.
In a major drive to help taxpayers file returns, the Income Tax Department on Tuesday offered to provide expert services at door-steps in the four metros and some major cities like Bangalore, Jaipur and Patna.
Despite Uber facing a ban across many states, including Karnataka and Maharashtra, for Lingaraju, a driver employed by the company in Bengaluru, it is business as usual.
In a set of FAQs on applicability of Goods and Services Tax on banking, insurance and stock brokers sectors, the revenue department has clarified that transactions relating to securitisation, derivatives, future and forward contracts are exempt.
Check the status and immediately act on it
In its essence, GST is a national level system of value added taxation of goods and services, says Shankar Acharya.
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