Missing appeal file – CIC asks Central Excise Commissioner (Appeals)to reconstruct fileAn assessee filed four appeals before the Commissioner (Appeals),Kolkata in the year 1992. During the last 16 years, the office ofthe Commissioner (Appeals) had be ..
In the first of a series of expected corruption indictments against Thailand’s former prime minister Thaksin Shinawatra ousted by the military two years ago, his wife was today sentenced to three years in jail for tax evasion.Thailand's Criminal Cour ..
The value-added tax (VAT) regime replaced sales tax with the key objective of eliminating the cascading effect of commodity taxes. It was believed that VAT would help widen the tax net, lead to revenue buoyancy and deter tax evasion. In theory, a com ..
The Supreme Court has dismissed the income tax department's appeal seeking to impose a penalty on Max India for failing to deduct TDS on perquisites given to its employees. A bench headed by Justice S H Kapadia upheld the Delhi High Court's judgement ..
"The Tamil Nadu Government's liquor policy des not violate any statutory or Constitutional norms," the First Bench of Madras High Court observed while granting liberty to a Pattali Makkal Katchi (PMK)Office-Bearer to make fresh representation to the ..
Oil and Natural Gas Corp., or ONGC, on Monday said it may enter the nuclear power generation business by leveraging a plan to explore the mineral together with Uranium Corp. of India Ltd, or UCIL, in India and abroad. The company has signed a tentati ..
Country's largest power generation equipment maker Bharat Heavy Electricals (BHEL) got relief after a tax tribunal rejected a duty demand raised by excise officials over its agreement with global giant Siemens for manufacturing instruments. Quashing ..
It may be the beginning of the era of filing paperless returns - anytime and from any place. No longer is there a need to stand in long queues. Filing returns may become an easy and simple exercise. July 31 is the last date for filing income tax retu ..
The Central Board of Direct Taxes (CBDT) is likely to increase the exemption limit for tax deducted at source on rental income to Rs 2,00,000 a year from Rs 1,20,000 at present.The move will go a long way towards reducing the tax burden of individual ..
Tax payers can now deposit income tax from the bank accounts of any person in addition to credit and debit cards, the Central Board of Direct Taxes (CBDT) said. The decision has been taken following representation from certain domestic and foreign ta ..
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