Kingfisher Airlines, which emerged out of an impasse over salary payment to its staff, is likely to face more trouble soon with the Revenue Department deciding to move the Supreme Court to expedite recovery of about Rs 330 crore dues.
The Revenue Department has extended the deadline by one month to November 25 for filing of service tax returns for the April-June quarter, as it has not been able to provide electronic return form in time.
The erstwhile Bahujan Samaj Party government's decision to transfer over 500 acres of land to the Noida Authority in 2009 has resulted in a whopping Rs 2,600 crore loss to the state exchequer, the Comptroller General of India has pointed out.
Union Minister Vilasrao Deshmukh on Tuesday appeared to be laying the blame for the Adarsh scam at former Chief Minister Ashok Chavan's door when he told the judicial panel probing it that the land was allotted to the society after a go-ahead from the revenue department.
The revenue from GST for the current fiscal has been pegged at over Rs 4.44 lakh crore, while for next fiscal it is Rs 7.43 lakh crore.
He, however, acknowledged the need for further efforts from the revenue department.
The action has been taken against officials harassing tax assesses.
The work to rescue the child was hampered by the presence of hard rocks which have come in the way of the link to be established between the borewell and a parallel pit dug up in order to reach her, rescue officials said.
Maharashtra Industries Minister and Congress leader Narayan Rane on Wednesday claimed that had not taken any decision regarding the controversial Adarsh Housing Society during his tenure as the chief minister. Making a suo-motu statement in the Legislative Assembly in Mumbai, Rane said an application regarding the proposed society had come to him on September 21, 1999. He said he forwarded the application to the revenue department with the remark "submit a report immediately"
'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.
The home ministry has asked the revenue department to conduct a probe into the allegations of disproportionate assets against former Chief Justice of India K G Balakrishnan.
He said assessees' "comfort zones" have to be significantly enhanced, even as deliberate evaders and offenders are punished.
Drawing on his technological expertise, Hajela, who has a BTech degree in Electronics from IIT, Delhi, introduced an innovative mechanism for collecting and collating data of the family tree of every resident of Assam.
The Finance Ministry will soon unveil the simpler income tax return form 'Sugam', which is aimed at reducing compliance burden on small businessmen and professionals.
The revenue will accrue to the government as the organisations will be required to deduct tax at source while making payments to players, umpires, coaches, commentators and others involved with the tournament.
Modi said the coronavirus pandemic made people learn new things.
Most of the buses run by Telangana State Road Transport Organisation are also off the roads
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).
Supplementary provisions exceeded the original provision by as much as 239,900 per cent in 2014-15.
Underlines need to reduce human interface; wants tax e-assessment in more cities
In its mid-year analysis presented in Parliament earlier this week, the Finance Ministry had said that there were concerns about overheating of the economy in the midst surge in capital flows.
The Kerala government decided to remove Suzlon Energy's windmills and other establishments from land in the Attappadi tribal area of Palakkad district, saying the company had taken the area illegally.
He will be the first bureaucrat to head the central bank in almost five years.
This at a time companies have asked the revenue department to increase the rate in view of higher bank rates.
Revenue Secretary Sunil Mitra admits tax collection target for 2011-12 is ambitious but achievable.
The government has set a revenue target of Rs 9 lakh crore during the current financial year, a top official said.
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.
In the wake of the Adarsh housing scam, the Navy has found that a "huge number" of its plots were encroached upon, a top Navy official said on Wednesday.
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.
The shocking incident triggered protests by revenue department employees across Telangana, while political leaders condemned it.
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.
Among the three Deputy Chief Ministers are Govind Karjol, who has also been given the charge of PWD and Social welfare; Ashwath Narayan the portfolio of Higher Education, IT & BT, Science and Technology; and Laxman Savadi with Transport department.
Minimum taxes on foreign portfolio investors have been removed.
Granting partial relief to foreign companies operating in the country, the Supreme Court on Thursday reversed the judgment of the Karnataka high court that there was an obligation in each and every case of remittance made to foreign payees to deduct tax at source and only the issue of proportionality of the tax could be decided by the revenue department under Section 195 (2) of the Income Tax Act.
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.
Finance Minister Arun Jaitley revealed that the government wanted to give Hasmukh Adhia a post-retirement role, but Dr Adhia said he would not work for a single day after November 30.
As many as 400 fishermen from Gujarat are stranded in the Arabian Sea, 40 nautical miles off Daman coast in south Gujarat, due to the cyclonic storm advancing towards the state. Gujarat Chief Minister Narendra Modi, meanwhile, called a review meeting of the state Disaster Management Authority, the revenue department and district administration in view of the impending cyclone and directed the district administration to keep an eye on the changing weather.
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 real estate sector in Maharashtra foresees a loss of Rs 2,000 crore (Rs 20 billion) due to the ban on extraction of sand by the Bombay High Court. The realty industry has sought the intervention of the state government to tackle the crisis.
With rains relenting, the flood situation in northern and coastal regions of Karnataka that claimed 168 lives, improved considerably on Monday.
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