Taxation

he government has extended the validity of all lower withholding tax orders, secured by assessees, by three months till June 30 to mitigate the hardship caused by Covid-19-related disruptions.   In an order on Tuesday, the Central Board of Direct Taxes (CBDT) allowed time till June 30...
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The government has decided to raise excise duty on petrol and diesel significantly, by upto Rs 8 per litre, to mobilise additional resources that would be required to fight the Covid-19 pandemic.   In amendments introduced in the Finance Bill 2020, the Finance Ministry has proposed to...
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In a big relief to the Non-Resident Indian community, the government has decided to restrict taxation only to the income generated by them from businesses in India, leaving their global income out of any levy. Moreover, taxes would need to be paid only on income of above Rs 15...
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Several bodies representing chartered accountants (CAs) from across the country have requested finance minister Nirmala Sitharaman to extend the timeline till 15 May 2020 for payment of 100% of ‘disputed tax’ for vivad se vishwas scheme (VSVS) in wake of the prevailing economic situations due...
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In yet another crack-down on tax evaders, the Directorate General of GST Intelligence (DGGI) has booked three firms for issuance of fake invoices, without actual supply of goods, worth Rs 4,198 crores.   The three firms booked by the anti-evasion authority are Fortune Graphics Ltd,...
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