INCOME TAX LAWS

  • DTC bill will be introduced in monsoon session: Chidambaram July 16, 2013

    Jaipur: Finance Minister P Chidambaram on Tuesday said official amendments to the DTC bill, which seeks to overhaul the over 50year old income tax law, will be introduced towards the end of monsoon session of Parliament starting August 5. The Direct Taxes Code (DTC) bill was introduced in Lok Sabha in...
  • India to amend tax laws after resolving Vodafone dispute April 7, 2013

    New Delhi: The Indian government will introduce changes in the income tax laws once the dispute with Vodafone is resolved, Finance Minister P Chidambaram said on Saturday. "Amendments to the Income Tax Act is inevitable, that is absolutely necessary," Chidambaram told reporters adding that the government was waiting for a...
  • 'Tax dept to send notices to 35,000 assesses next week' March 3, 2013

    New Delhi: Finance Minister P Chidambaram on Saturday said the revenue department will send tax notices to 35,000 assesses next week, beefing up efforts to reach the collection target for the fiscal. "We have issued notices to 35,000 people saying that on the basis of information we have, you should have...
  • Finance Secretary's statement 'untrue': Vodafone April 24, 2012

    New Delhi: British telecom major Vodafone on Tuesday described a reported statement of Finance Secretary RS Gujral as "completely untrue" on the tax issue and said it had never received any communication from authorities to withhold tax while making payment to the Hutchison. "This is completely untrue. At no point before...
  • The Last Word: Is amendment to Income Tax Act unfair? March 21, 2012

    SC's rejection of the plea to review Vodafone judgement has made the announcement to amend the IT act even more controversial. ...
  • 'Wary of amending laws with retrospective effect' March 18, 2012

    New Delhi: Planning Commission Deputy Chairman Montek Ahluwalia said he was wary of amending laws with retrospective effect after the Union Budget seeks to change the Income Tax law to cover the Vodafone takeover of Hutch. The government's controversial decision to amend the income tax laws of 1962 with retrospective effect...