CBDT chief for quick payment of IT refunds Issuance of about 15 lakh income tax refunds to taxpayers across the country has become a bone of contention between the I-T department and CBDT, with the Board chairman issuing instructions that failur ..
Pranab likely to table bill on GST today Finance Minister Pranab Mukherjee is likely to table a Constitution Amendment Bill in Parliament on Tuesday to facilitate implementation of Goods and Services Tax (GST). It will facilitate implementati ..
Cabinet clears GST Constitution Amendment Bill The Union Cabinet has approved Constitution Amendment Bill to pave the way for implementation of Goods and Services Tax, a new indirect tax regime that will subsume various levies such as excise and ..
No routine tax scrutiny for senior citizens, small taxpayers The Income Tax Department has said that tax returns filed by senior citizens above 60 years and small taxpayers with gross total income of less than Rs 10 lakh will not scrutinised in ..
Pranab hints at review of proposal to tax healthcare services Finance Minister Pranab Mukherjee has hinted at review of his proposal to impose 5 percent service tax on high-end health care services which was described as "misery tax" b ..
DTC to be implemented from 1st April, 2012: Pranab Finance Minister Pranab Mukherjee on Monday said the Direct Taxes Code (DTC), which will replace the Income Tax Act, is proposed to be implemented from 1st April, 2012. "... The code is ..
GST Constitution Amendment Bill in this session: FM Finance Minister Pranab Mukherjee said the Government proposes to introduce the Constitution Amendment Bill in the current session to pave the way for introduction of the long-awaited Goods an ..
A division bench of the Kerala High Court held that a metal crusher unit entitled to pay compounded tax, as per sales tax law, can equally claim composition with respect to its incidental products like Msand, along with granite metals. As per Sect ..
CBDT Clarification on Tax Scrutiny Of Mergers and Acquisitions Cases The Central Board of Direct Taxes (CBDT) has clarified that the Income Tax Department is currently scrutinizing only a handful of cases relating to takeovers, mergers and acqui ..
I-T dept introduces new number for taxpayers for tax filing Taxpayers will now have to procure a 'new number' for filing returns and making any communication with the Income Tax department. The unique Document identification number (D ..