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Moneylife Digital Team 19 June 2017
The Indian government has postponed until September the need to file returns under the goods and services tax (GST) and allowed tax payments to be based on a simple return (Form GSTR-3B) containing the summary of outward and inward supplies, which is to be submitted before 20th of the...

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IANS 19 June 2017
The GST Council on Sunday unanimously agreed on a July 1 rollout of the Goods and Services Tax regime despite some pending issues, while relaxing the return filing deadline for the first two months, and approved the rules on anti-profiteering to protect consumers.   While Union...

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Sucheta Dalal , 04-September-2026
Sashidhar Jagdishan’s Tenure at HDFC Bank: Six Years...
Sashidhar Jagdishan ended up doing two things his high-profile predecessor, ...

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Nidhi Bothra 13 June 2017
Related party transactions always follow the presumption of not being at arm’s length and therefore tax provisions prescribe that such transactions should be undertaken at market value and be based on usual commercial terms, as if done with a third party. Transactions with related parties are...

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Rohit Parakh (IANS) 13 June 2017
Tax incentives allowed 15,080 profit-making companies to have effective tax rates of zero, and in some cases less than zero, in 2015-16, according to an IndiaSpend analysis of the latest available national tax data or, more specifically, a government analysis called the Revenue Impact of Tax...

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Moneylife Digital Team 12 June 2017
In the wake of the implementation of GST (Goods and Services Tax) from 1 July 2017, the preparedness at the level of small businesses is a major challenge. The proposed GST taxation system is entirely based on technology where not even a single paper will be used. The basic fundamentals of...

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IANS 10 June 2017
With three weeks to go before the country moves to big bang tax reform, Goods and Services Tax (GST) Suvidha Providers -- key links between taxpayers and the government -- say the IT systems for a July 1 roll-out are not ready.   "All the rules are yet to be notified. Only after the...

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IANS 07 June 2017
India on Tuesday amended its income lax law to exempt genuine equity investments through initial public offerings (IPOs), bonus or rights issues by a listed company from long-term capital gains tax even if no securities transaction tax (STT) was paid.   The amendment provides that...

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IANS 01 June 2017
Seeking to set at rest all doubts, Finance Minister Arun Jaitley on Thursday said the government is in a state of preparedness for the roll-out of the Goods and Services Tax (GST) from July 1 and asked the industry to fall in line as there will be no change in the date of implementation of...

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Moneylife Digital Team 29 May 2017
There is growing discontent, especially among the trading community, over the classifications under the goods and service tax (GST). Items, which were in the lower category under value added tax (VAT) are now being categorised in higher tax slabs under GST, says a traders' body.   In...

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Moneylife Digital Team 24 May 2017
Terming the procedure to create e-way Bill under the goods and services tax (GST) cumbersome, Tally Solutions Pvt Ltd has expressed concerns about multi-layer declaration of details and verification during the process, which it feels may defeat the core design of GST. "While the proposed...

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IANS 24 May 2017
The Income Tax Department on Wednesday summoned Rashtriya Janata Dal (RJD) chief Lalu Prasad Yadav's daughter Misa Bharti and her husband in connection with a "benami" property case.   An IT official requesting anonymity told IANS: "We have summoned Misa and her husband Shailesh Kumar...

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IANS 22 May 2017
The Maharashtra Assembly on Monday unanimously passed the State Goods and Services Tax (GST) ratification bill after hectic deliberations at a three-day special session of the state legislature.   The bill is now being discussed in the upper house, the Legislative Council, where it is...

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IANS 19 May 2017
The Goods and Services Tax (GST) Council concluded its latest round of meetings on Friday with the decision to apply the same four tax rate slabs for services as for goods, exempting, however, healthcare and educational services from the purview of the GST.   Speaking to reporters...

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IANS 19 May 2017
With the Goods and Services Tax (GST) Council deciding the tax rate on 1,211 goods on Thursday, there is cheer for the common man as 81 per cent of the goods are below 18 per cent, though people will have to shell out more even for small segment cars with additional cess levied on...

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IANS 12 May 2017
The Delhi High Court on Friday declined to entertain a plea by Young Indian Pvt Ltd (YI), of which Congress President Sonia Gandhi and Vice President Rahul Gandhi are the main stakeholders, challenging Income Tax notices served to the company -- clearing the decks for an IT...

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Vishav (IANS) 04 May 2017
Undeterred by the raging row stoked by his comments, NITI Aayog member Bibek Debroy is sticking to his guns that agricultural income should be taxed and says that the onus for this must be on the state governments.   "I had said that agricultural income should be taxed above a...

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IANS 26 April 2017
New Delhi, Noted economist and NITI Aayog member Bibek Debroy on Tuesday said there was a need to expand the tax base by bringing agricultural income under the tax ambit.   He said there was also a need to eliminate exemptions on personal income tax.   Talking to reporters...

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Moneylife Digital Team 24 April 2017
As the much-awaited goods and service tax (GST) implementation deadline of 1 July 2017 draws closer, consumer goods companies are gearing for its seamless implementation. However, the state of affairs as far as other stakeholders in the system distributors, and wholesalers is starkly...

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IANS 11 April 2017
New Delhi, In another move to improve ease of doing business in India, the Income Tax Department has tied up with the Corporate Affairs Ministry (MCA) to issue Permanent Account Numbers (PAN) and Tax Deduction Account Numbers (TAN) within a day, an official said on Tuesday.   "The...

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IANS 11 April 2017
New Delhi, The central government on Tuesday announced its decision to block accounts of those individuals who do not provide self-certification by April 30.   This would be done in order to comply with the provisions of the Foreign Account Tax Compliance Act (FATCA).   "This...

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