TAX

Trump organization gets convicted in executive tax dodge scheme

A jury found two corporate entities at the Trump Organization guilty on all 17 counts, including charges of conspiracy and falsifying business records.

published on : 7th December 2022

Fitch expects windfall tax to be phased out in 2023

With global oil prices rallying to a decade high in the aftermath of the Russia-Ukraine war, state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) raked in windfall profits.

published on : 6th December 2022

Salaried class looks for more tax benefits in upcoming Budget

Taxpayers expect that at least in the upcoming Budget, their long-pending demand of increase in the deduction limit to Rs 3 lakh will be fulfilled

published on : 5th December 2022

Govt slashes windfall gains tax on exports of crude oil, diesel

The government on Thursday slashed windfall tax or the special additional excise duty (SAED) on locally produced oil and also reduced levy on diesel exports. 

published on : 2nd December 2022

I-T dept serves notice on Labour Min Gummanur Jayaram’s wife over benami land

Addressing the media on Thursday, Jayaram, however, denied it was a benami property.

published on : 2nd December 2022

Centre cuts windfall profit tax on locally produced crude oil, levy on diesel export

The revised tax rates become effective from December 2, 2022.

published on : 1st December 2022

GST revenues rise 11 per cent to Rs 1.46 lakh crore in November

This is the ninth straight month when collections from Goods and Services Tax (GST) have remained above Rs 1.40 lakh crore.

published on : 1st December 2022

Efforts to broaden tax base bearing fruits: Tarun Bajaj

According to Bajaj, one of the changes in the new tax regime could be increasing the threshold from Rs 2.5 lakh to say Rs 7 lakh. He also feels the need for rationalising the tax slabs.

published on : 30th November 2022

Malla Reddy’s auditor, 13 staffers grilled by I-T officials in Telangana

The officials asked the accountants and principals on how the colleges collect fees, whether it is in cash or online or in the form of cheques and whether the authorities issue any receipts.

published on : 30th November 2022

HC quashes IT notice to Embassy Group chairman

A division bench of Justice PS Dinesh Kumar and Justice MG Uma quashed the notice dated August 11, 2021, issued by the Joint Commissioner of Income Tax

published on : 30th November 2022

Farmers seek rollback of cess tax on agri produce

"The State government has been levying Rs 30 as cess tax per quintal of farm produces, including paddy, cotton, chilly, maize, ginger, turmeric and coconut, since June 2021.

published on : 30th November 2022

‘Tit for tat’ tax raids raise political heat in Padampur

I-T raids on 3 bizmen in morning, state GST follows with 7 in evening

published on : 29th November 2022

Telangana Labour Minister Malla Reddy, kin to appear before I-T sleuths today

The I-T officials reportedly found several discrepancies in transactions carried out by the Malla Reddy group of educational institutions as well as the businesses run by his relatives. 

published on : 28th November 2022

What can change in capital gains tax rules in budget

Government is reportedly looking at simplifying tax structure by bringing uniformity in holding periods to decide the nature of capital gains as short or long

published on : 28th November 2022

Challenges in casting the tax net wider

That is a minuscule number of taxpayers in a country with a population of 1.4 billion.

published on : 28th November 2022

Reducing taxes on automobiles can boost sector, benefit economy: Vikram Kirloskar 

Although at the moment India cannot afford to slash the tax rate on automobiles drastically, he said a plan to reduce cess on the industry can be looked at.

published on : 27th November 2022

Amid pension debate, do not forget principles, social obligations

It is not the proportion of the population that is important but the fact that all of them are old.

published on : 25th November 2022

Trade, services sectors demand easing burden of compliances

The PHD chambers of commerce and industries  sought tax rebate benefits on long term durables/real assets to give impetus to demand in the economy. 

published on : 25th November 2022

Tiruchy corporation collects Rs 16 crore from property tax defaulters in two months

Sources said the corporation is yet to get more than Rs 100 crore from multiple sources like various taxes and rents from buildings owned by the corporation.

published on : 22nd November 2022

Budget should focus on job creation, broaden tax base: India Inc to Nirmala Sitharaman

To boost job creation, CII suggested that an employment-linked incentive scheme be introduced and the government could consider an urban employment guarantee scheme.

published on : 21st November 2022
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