Taxation

The Central Board of Direct Taxes will provide relief to NRIs, foreign visitors facing double taxation for overstaying in India due to lockdown and suspension of international flights during current financial year (FY21).   Government had earlier given exemption to overseas visitors...
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  • The share of cess and surcharge in gross tax revenue has nearly doubled to 19.9 per cent in FY21, from 10.4 per cent in FY12.   This has resulted in the decline in the central transfer to states, including non-finance commission transfers. Such transfers from the Centre to states has...
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  • Centre has extended the deadline for filing annual GST returns for the financial year 2019-20 till March 31.   Earlier the deadline for filing the returns was extended February 28.   In a statement on Sunday, the Department of Revenue said that the decision has been taken...
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  • Fuel prices have started to pinch consumers harder as petrol has become costlier by nearly 3.75 per cent and diesel about 4.5 per cent in the last 17 days, since the announcement of the new agriculture infrastructure and development cess in Budget 2021-22.   The government has...
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  • Members of clubs, including sporting bodies and professional institutions will now have to fully comply with tax regulations and pay GST for any goods and service they receive from facilities to which they themselves are members or constituents.   The Finance Ministry has introduced...
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