Even as the indirect tax kitty during the first four months of this fiscal shrunk by 28% when compared to last year, the government expects to meet the budgetary target of about Rs 2.7 lakh-crore reading the signs of revival in economy. “We exp ..
A Constitutional amendment will be required for the introduction of a dual goods and services tax (GST) system in the country, the Chairman of the Empowered Committee of State Finance Ministers, Dr Asim Dasgupta, said here on Saturday. “A const ..
State governments are not keen on reducing the sales tax levied on aviation turbine fuel (ATF) from its current levels which vary from 4 per cent to 30 per cent. Reduction in the sales tax rate has been one of the key demands of the troubled domestic ..
Commissioner of Income Tax-I (CIT-I) on Friday claimed to have detected tax evasion worth around Rs 7.25 crore as a result of surveys carried out on 11 premises of three city entrepreneurs on Thursday. A major chunk of tax evasion has been reported ..
House owners of the city may pay the property tax (Saral Kar) in three instalments iinstead of one-time payment, according to Rajeev Sharma, city commissioner, Kanpur Nagar Nigam (KNN). Addressing mediapersons, the city commissioner said that so far ..
Traders, under the banner of Rashtriya Vyapar Mandal (RVM), announced to oppose the new tax code, the draft of which was submitted by Union Finance Minister Pranab Mukherjee on August 12. The traders allege that the new tax code was not in the right ..
The new direct tax code is a ‘discussion document' and the government will consider the views of all constituents before turning it into a final tax rule. As part of the process of taking industry views on the code, finance minister Pranab Mukh ..
The Delhi High Court said any government employee who is staying with his spouse in a government flat is not entitled to HRA (House Rent Allowance).Stating that if both the husband and wife are government employees, Justice Sunil Gaur said only one c ..
Finance secretary Ashok Chawla on Tuesday launched the first of its kind banking service, where a customer can pay his income tax using an ATM. The facility has been started by Corporation Bank. Initially, at least 10-20 lakh people who have an accou ..
Corporation Bank became the first bank in the industry to start a initiative of accepting income tax through its 1,035 plus ATMs on Tuesday. The facility was formally launched by Ashok Chawla, finance secretary, ministry of finance, at New Delhi. S ..
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