Market experts believe the retreat is because of uncertainty.
Poor performance of the banking, oil and exploration industries have impacted corporate tax collections.
The Supreme Court collegium headed by Chief Justice D Y Chandrachud has recommended the names of three advocates for appointment as judges of the Bombay high court.
Today you can view your tax credit online, pay taxes online, file your return online, track the processing status in real time and also get the refund online directly credited to your bank account. You don't need to stand in queues anymore or or be at the mercy of the bureaucracy.
Over the next four years corporate tax will come down by 5 per cent and lot of exemptions will get phased out.
Returns for income earned till FY12-13 can be filed till March 31.
Amazon's fulfilment centres, which store products of hundreds of vendors selling on the American online major's platform, are being cited by Karnataka state government authorities as a primary concern in an ongoing tax dispute.
While the two-phased assembly polls voting has concluded in Assam, in West Bengal two phases have completed while four more remain.
Facing an acute shortage of COVID-19 vaccines, the Odisha government on Monday decided to float a global tender for procuring the vaccine to inoculate the states entire population, Chief Secretary S C Mohapatra said.
The government on Monday proposed income tax benefits for people making payments through credit or debit cards and doing away with transaction charges on purchase of petrol, gas and rail tickets with plastic money.
Taxpayers might face several issues while filing returns this year.
Tax payers need not dread filing returns as the process can be simplified.
Even as some government departments have raised concerns on the Bill in its present form, the finance ministry has decided not to delay any further and may table it in Parliament next week.
The perils mentioned here may seem few in number, but each of it encompasses an entire set of dangers posed by the free online tax filing offers.
The GST will subsume excise, service tax, value added tax, octroi etc.
The Supreme Court-appointed Special Investigations Team on black money has also proposed that holding more than Rs 15 lakh in cash be made illegal for individuals and for companies, report Tinesh Bhasin and Sanjay Kumar Singh.
With Goods and Services Tax (GST) officers under pressure to exceed the Rs 1-trillion collection mark per month, industry has faced a barrage of recovery notices and summons issued over the last one month across sectors, according to company executives. Industry bodies have claimed harassment by field officers, blocking of input tax credit, cancellation of GST registration, threats of arrest and steep penalties, impacting their working capital and operations. Company executives pointed at an atmosphere of apprehension and fear due to such notices and summons.
Hasmukh Adhia to present revenue dept's performance over past year & plan for current financial year
Outlay for infra is also expected to see a significant increase in view of the government's Rs 111-trillion investment plan under the national infrastructure pipeline to develop social and economic infrastructure over five years.
Chartered accountant and commentator M R Venkatesh on why the GST Bill will cost the BJP dear.
There is no official confirmation to reports that the IPS officer was caught red-handed by his wife of 32 years at a woman's house, after which he assaulted her.
The I-T department's app is useful for those looking for information, grievance redress, and resolving PAN- or TAN-related issues.
The much-delayed insurance bill and the goods and services tax bill are among the 39 bills that are expected to come up during the month-long Winter Session of Parliament beginning next week.
Asserting that his government will implement the five poll 'guarantees' promised ahead of the assembly polls, Karnataka Chief Minister Siddaramaiah on Wednesday said officials have shared their inputs on financial implications, and the cabinet will meet on June 2 to decide on the implementation.
Amazon, however, claimed that it is just a service provider and doesn't own goods at any point of sale due to which it is not liable to pay this tax.
About 48 lakh demat accounts have been frozen by the two depositories, National Securities Depository Ltd and Central Depository Services Ltd, because investors failed to submit Income Tax Department's PANs.
Department of financial services secretary Sanjay Malhotra held a meeting with heads of PSBs, insurance companies and financial institutions for identifying ways to support Agniveers on completion of their tenure of duty.
While the virus out there meddling big-time with our lives, danger is lurking in our email boxes too.
The ED case has been booked under the Prevention of Money Laundering Act (PMLA) and the agency will record the statement of the accused. The central agency will investigate if proceeds of crime were generated by the accused by laundering of funds that were earned through the alleged gold smuggling racket.
US State Department's report said that this has resulted in many investors retreating slightly from their once forward-leaning support of the BJP-led government
The guidelines, which have made service charge "totally voluntary and not mandatory", will be sent to states for necessary action
I-T dept launches Tatkal system for those who desire to help the victims of the earthquake in Nepal.
For 2011-12, there were 7,56,741 foreign remittances made from India with money worth Rs 3,56,461 crore (Rs 3,564.61 billion) going out of India
In 2019-20 Budget, the government had increased surcharge from 15 per cent to 25 per cent on those with taxable income between Rs 2-5 crore and from 15 per cent to 37 per cent for income above Rs 5 crore. Following the increase, the effective income tax rate for individuals with a taxable income of Rs 2-5 crore will go up from 35.88 per cent to 39 per cent and for those above Rs 5 crore it would go up to 42.7 per cent.
The Parthasarathy Shome committee gives its second reform report to finance ministry.
Compliance requirements, valuation, input tax credit transfers are likely to lead to tax litigation, says Sayan Ghosal.
FATCA will facilitate flow of financial information between countries.
Cos can apply for PAN card number online through e-Biz portal.
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