taxation

Tax authorities from around the world have agreed on a new co-operation plan to encourage compliance a..

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Mr S.P. Swain has taken over as Director-General of Income Tax, Hyderabad. Mr Swain, who joined Indian Revenue Service in 1976, served as Director (international taxation), in Bangalore before the current assignment, according to a release. ..

The Central Government on Thursday decided to extend the full rate of duty refunds including excise to merchant exporters who purchased goods from the local markets for overseas shipments. The Central Board of Excise and Customs (CBEC) said in a circular..

The newly formed Union cabinet is expected to decide shortly on the vexed issue of a tax holiday for natural gas production, which is key to attracting overseas bidders to India’s biggest auction ever of 70 oil and gas blocks. span..

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RECENT CHANGES IN THE PROVISIONS REGARDING TAX DED..

There is a difference of opinion in the Finance Ministry on the way the Cenvat rate (excise duty rate) should move in the coming days. Different groups are pulling in different directions. Some senior officials advocate that the median Cenvat rate should remain at 8 per cent, the level at which it was fixed..

The income-tax department has the right to carry out a raid and attach property, if it has reason to suspect that income is likely to escape tax net in absence of prompt action, a division bench of the Bombay High Court has ruled. The division bench, comprising Justice Ranajana Desai and Justice JP Deodhar,..

Some five months after the government issued a notice asking charitable trusts to pay tax on revenue they earn from commercial activities, it is framing guidelines to check tax evasion at such entities, including Indian cricket’s governing board, two offic..

The Department of Sales Tax today said that a total of 1,40,000 VAT dealers are yet to file their e-returns. The Department further said that it has already started taking legal action against these 1,40,000 VAT dealers for not filing e-returns, a press release ..

May 5, 2009 Hon’ble Justice Dalveer Bhandari, Judge, Supreme Court of India The Learned Judge laments that the Income-tax Act is a “national disgrace”. He says that it is unfortunate that the law is so complex that even practising Lawyers and Judges have to employ Chartered Accountants or tax experts to file their income tax returns. He uses his vast experience to pr..

F.No.276/109/2007-CX.8A Government of India Ministry of Finance Department of Revenue (Central Board of Excise & Customs) Legal Section New Delhi, 21st May, 2009 p a..

GOVERNMENT OF INDIA MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) New Delhi, 22nd May, 2009 Notification No. 6..