Tag: Tax

New Delhi: In its bid to curb corruption by making tax filing and their review faceless, the government has come out with e-assessment scheme, 2019 making it mandatory for all communication between tax department and taxpayers to be done online. Now, tax notices will be issued by a centralised e-assessment centre requiring taxpayers to reply […]

New Delhi: India Inc. on Friday double cheered the government’s Rs 1,45,000 crore stimulus, which includes slashing corporate tax to 22 per cent for domestic companies, lower tax of 15 per cent for new manufacturing firms and measures to boost the capital market. “We welcome the Finance Minister’s proposition of slashing corporate tax, scrapping surcharge […]

New Delhi: In line with Finance Minister Nirmala Sithraman’s policy of discussion with stakeholders on policy matters, in a first the Finance Ministry has started the next budget planning by inviting suggestions on changes in direct and indirect taxes, including their rates, from industry and trade associations. Sitharaman, who had earlier announced additional measures to […]

New Delhi: Lower lending rates following a series of policy rate cuts by the Reserve Bank of India and a sharp cut in the corporate tax rates will spur a recovery in India next year, a report said on Monday. “The turnaround is likely to show up beginning in the October-December quarter, though largely because […]

Mumbai: Similar to expectations ahead of the Union Budget, Dalal Street has its eyes on a possible relaxation in taxes such as long-term capital gains tax (LTCG) and Dividend distribution tax (DDT) on February 1. The LTCG tax is applicable on profits arising from the sale of equity, mutual funds or gold held for a […]

New Delhi: The Central Board of Direct taxes (CBDT) has issued a circular (No. 17) clarifying the tax deduction at source (TDS) and tax collection at source (TCS) provisions, which will come into force from October 1. Tax expert Ved Jain said that TCS is to be collected and paid on all payment received on […]

Nabarangpur: The Commercial Tax and GST Enforcement squad of Bhawanipatna seized four vehicles near Papadahandi in Nabarangpur district on Friday for allegedly flouting GST norms. As per reports, a team led by Deputy Commissioner Tapan Padhi was acting on a tip off at Mriga Vihar under Papadahandi block, when they intercepted four vehicles including three […]

Bhubaneswar: In a major relief to vehicle owners of other State, the Odisha Transport Department has now come up with a new online tax payment gateway. From now on, the transport or private vehicles, tractors, construction or school buses visiting Odisha can pay taxes, permit fees from the online portal, parivahan.gov.in. The user needs to […]

New Delhi: Union Finance Minister Nirmala Sitharaman on Monday proposed the extension of tax holiday for startups by one more year. The move announced during the Budget presentation comes as India focuses on Aatmanirbhar Bharat mission aimed at making India a self-reliant nation. In another boost for startups, Sitharaman said that one-person companies will be […]