TAXES

  • AG Mukul Rohatgi asks Income Tax department to not appeal ruling in Vodafone tax case 7 hours 56 minutes ago

    Mumbai: The attorney general has recommended the government refrain from appealing a Bombay High Court ruling in favour of Vodafone Group Plc in a long-running tax dispute, a person directly involved in the matter said. Vodafone, the biggest foreign corporate investor in India, has been involved in a series of tax...
  • I-T seizes over Rs 135 crore cash, jewellery from Sahara group 2 days ago

    New Delhi: The Income Tax department has claimed to have seized cash of over Rs 135 crore from the premises of Sahara group during its raids on its two premises in Delhi and Noida in connection with alleged tax evasion charges. Sources said that the department made one of its...
  • Finance Minister Arun Jaitley against burdening salaried, middle class 4 days ago

    New Delhi: Finance Minister Arun Jaitley on Saturday said that he does not favour burdening the salaried and middle-class with more taxes but would go after the evaders in widening the net. In fact, he would encourage more money being put in the pockets of tax payers that will lead to...
  • Immigrants work hard, often in tough, low-paying jobs: Barack Obama 6 days ago

    US President Barack Obama has announced sweeping changes to the country's immigration policies. "Will make it easier for skilled workers and graduates to stay. Most of these immigrants have been here for a long time. Immigrants work hard, often in tough, low-paying jobs," said Obama. ...
  • We are and will always remain a nation of immigrants: Barack Obama 6 days ago

    US President Barack Obama has announced sweeping changes to the country's immigration policies. He has used executive power to shield five million undocumented immigrants. The changes will offer many a chance to stay temporarily in the country for three years, as long as they pass background checks and pay back...
  • SIT on black money to create database of tax crimes 1 week ago

    New Delhi: The Special Investigation Team (SIT) on black money has decided to create a rich national database where multiple agencies probing tax and financial crimes will pool in vital classified information to be shared for seamless investigation. The SIT is wanting to bring together the databases of CBDT, Financial...
  • Japan PM Shinzo Abe puts off tax hike, calls snap poll November 18, 2014

    Tokyo: Japan's Prime Minister Shinzo Abe called a snap election for December and put off a sales tax hike planned for next year, vowing on Tuesday to step down if his strategy to revive the ailing economy falls flat. Despite Abe's aggressive revival policies to end two decades of stagnation, the...
  • Shinzo Abe set to call snap Japan poll, delay tax hike November 18, 2014

    Tokyo: Prime Minister Shinzo Abe is set to call a snap election, and seek voters' endorsement for more economic reforms after Japan slipped into recession. Less than two years after he swept to power pledging to reinvigorate the country's flagging economy, Abe is expected to say more needs to be done...
  • Goods and Services Tax bill to be tabled in winter session November 17, 2014

    New Delhi: Showing clear intent in reforming India's indirect tax regime within a time frame, Finance Minister Arun Jaitley Monday said the government would bring in the Goods and Services Tax (GST) bill in the upcoming winter session of parliament. The finance minister made the announcement at the Citi Bank Investor...
  • India @ 9 with Palki S Upadhyay November 16, 2014

    Catch the day's top stories with Palki S Upadhyay on India @ 9. ...
  • G20 vows to put in place tax information exchange mechanism by 2017 November 16, 2014

    Brisbane: The G20 leaders on Sunday committed to put in place a mechanism for automatic exchange of tax information between member countries by 2017, an issue which has been continuously raised by India at international fora to check the menace of black money. The leaders of 20 developing and developed...
  • Felt let down when Jaitley didn't repeal retrospective tax amendment: Chidambaram November 8, 2014

    New Delhi: Former finance minister P Chidambaram took a dig at Finance Minister Arun Jaitley over the issue of retrospective tax saying it was because of latter's insistence on amendment that he could not go ahead with his plans. At a book launch in the national capital, Chidambaram said, "I...
  • Black money details shared under tax treaty can't be shared even with courts: Swiss govenment October 31, 2014

    New Delhi/Berne: Amid a debate on disclosure of names of suspected black money holders, Switzerland Thursday said information exchanged under Swiss-India tax treaty cannot be disclosed "in principle" to a court or any other body outside the proceedings of a 'specific and relevant' case. The comments come at a time when...
  • IT to begin probe against 90 from Mumbai in blackmoney case October 29, 2014

    Mumbai: Mumbai Income Tax authorities will soon initiate the process of ascertaining if there was any "criminality" involved in the accounts of 90 individuals from the city whose names figure in the list of 627 Indians submitted by the Centre to the Supreme Court in the blackmoney case. Sources in...
  • Arun Jaitley to meet IT official to review revenue collection October 28, 2014

    New Delhi: Finance Minister Arun Jaitley will hold a high-level review-cum-strategy meeting of top Income Tax (I-T) commissioners on Thursday to bolster revenue collection work and chart a roadmap to achieve the target. All Principal Chief Commissioners and Chief Commissioners of I-T department in the country have been asked by...
  • Rs 1,381 crore of tax exemption to political parties in 2 years: RTI October 19, 2014

    New Delhi: The tax-exempted income of 13 major political parties of the country, in last two years, amount to Rs 1,381 crore, according to an RTI query. Of this the Congress and BJP have cornered around 80 per cent. During 2012-13 and 2013-14, the Congress had a tax- exempted income...
  • Finance Ministry restructures indirect taxes formations October 15, 2014

    Delhi: The Finance Ministry on Wednesday restructure indirect taxes formations with a view to provide better tax payer services and deepen the tax base. "The restructuring of formations is aimed creating larger number of compact commissionerates, by reorganising the existing commissionerates. This shall provide better tax payer services and deepen the...
  • HC order on Vodafone transfer pricing being analysed: CBDT October 13, 2014

    Mumbai: The Central Board of Direct Taxes (CBDT) will give its views on the high court order on Vodafone transfer pricing case after studying the judgement, chairman KV Chowdary said on Monday. "We are examining transfer pricing issue at both the (Income Tax) commissioner and Central Board of Direct Taxes...
  • Narendra Modi seeks to revive India's 'zombie factories', not abandon them October 13, 2014

    Kanpur: At British India Corporation's textile factory in Kanpur, four men sit in a control room watching computerised gauges eight hours a day. When they are done, another group takes over, and then another, for 24 hours a day - much as they might at any major industrial plant. The problem...
  • Income Tax department launches secure email system for staff to curb frauds October 12, 2014

    New Delhi: To curb misuse of official cyber tools and attempts of phishing, the Income Tax department has rolled out a secure email system for all its employees and officers. The department, official sources said, has recently discontinued its existing email systems (called Lotus mail and IMail) and has issued...
  • Bombay HC rules in favour of Vodafone, says no taxable income liable October 10, 2014

    Mumbai: The Bombay High Court has ruled in favour of Vodafone, maintaining that it was not eligible to pay 3,200 crore in tax over the transfer of shares from an Indian subsidiary of the company to the parent company. The HC ruled that there is no taxable income arising out...
  • Bombay High Court rules in favour of Vodafone in transfer pricing case October 10, 2014

    Mumbai: In a landmark judgement, the Bombay High Court has ruled in favour of the Vodafone group in the transfer pricing dispute. The HC has said that there is no taxable income arising out of transactions. Vodafone had moved Bombay HC seeking relief from the I-T notice with regard to the...
  • Ghaziabad: District administrators prepare list of tax evaders October 9, 2014

    Ghaziabad: District administration has prepared a list of top 217 tax evaders and in case of default in payment of arrears of their municipal taxes, it is planning to initiate stern action against them. After assuming the additional charge of Municipal Commissioner of Nagar Nigam Ghaziabad, District Magistrate Vimal Kumar...
  • 'Need to move away from aggressive tax planning & assessment' October 9, 2014

    New Delhi: There is a need to move away from aggressive tax planning and such tax assessment undertaken in certain situations and find a resolution to this issue, Revenue Secretary Shaktikanta Das said on Thursday. "I think, we should move away from this whole business of...
  • Punjab: Tax raised to mobilise funds for development, says SAD October 5, 2014

    Chandigarh: The Shiromani Akali Dal (SAD) on Saturday supported the SAD-BJP led Punjab government's move to increase VAT on diesel, cold drinks and cigarettes, saying tax was raised to mobilise funds for development. In a statement, SAD general secretary and core committee member Maheshinder Singh Grewal said the rate of...
  • Judge refuses to drop Messi tax fraud charges October 4, 2014

    Barcelona: A Spanish judge rejected an appeal filed by Lionel Messi's lawyers on Friday to drop tax fraud charges against the Barcelona star. The judge rebutted the counter demand that Messi be excluded from the case against him and his father, who are accused of withholding 4 million euros ($5.3 million)...
  • Supreme Court declares Centre's move to set up National Tax Tribunal as unconstitutional September 25, 2014

    New Delhi: The Supreme Court on Thursday declared as unconstitutional the National Tax Tribunal Act under which a tribunal was set up to decide tax-related cases by taking away jurisdiction of high courts in such matters. A five-judge constitution bench headed by Chief Justice RM Lodha said that the Act passed...
  • Madras HC exempts Jayalalithaa from personal appearance in IT case September 24, 2014

    Chennai: Madras High Court on Wednesday exempted from personal appearance Tamil Nadu Chief Minister Jayalalithaa and her aide Sasikala before the trial court for questioning and for framing charges in the Income Tax returns case. On September 18, the Additional Chief Metropolitan Magistrate MR Dakshinamurthy had directed them to...
  • Finance Minister Arun Jaitley to launch single window portal for taxpayers September 21, 2014

    New Delhi: An updated version of the income tax department website that will be a single window for all online services offered by the department will be launched on Monday by Finance Minister Arun Jaitley. The website will be more userfriendly and robust, so that it can handle many hits at...
  • HC asks Gujarat not to collect duty on telecom customers forms September 21, 2014

    Ahmedabad: The Gujarat High Court has asked the state government not to collect stamp duty from various telecom service providers including Tata TeleServices, Bharti Airtel and Reliance Communications on customers' application forms. Justice CL Soni of the Gujarat High Court directed the Gujarat government not to collect stamp duty on customers'...