CENTRAL BOARD OF DIRECT TAXES
CBDT seeks to widen net for appointment of members, makes younger officers eligible for post
Till a couple of years ago, only officers of the rank of Principal Chief Commissioner of Income Tax (PCCIT) were eligible for being considered for appointment as Member, CBDT. CBDT, on November 11, sought to widen the catchment of officers by making eligible all officers of the rank of Principal Commissioner of Income Tax and above.
Revise mechanism for setting up, expansion of industries in polluted areas, NGT directs CPCB
A bench headed by NGT Chairperson Justice Adarsh...
Govt eases input tax refunds for exporters
Delay in the issuance of refunds has been a sore point for exporters since the switchover to goods and services tax (GST) regime in July 2017. The new directive from the Central Board of Indirect Taxes and Customs (CBIC) follows assurance from finance minister Nirmala Sitharaman to the industry on easing of compliances.
No GST on CXO salaries: Government set to clarify
CBEC is set to clarify that common function like HRs should be out of the GST gamut
Finance Commission likely to get extension for working on devolution to UTs of J&K, Ladakh
According to the Act, the distribution of taxes suggested by the 15th Finance Commission to the state of Jammu and Kashmir will have to be apportioned to the Union Territories of J&K and Ladakh. The award made by the Fourteenth Finance Commission to the existing state of Jammu and Kashmir will be apportioned between the successor Union territories of J&K and Ladakh.
Central Bank of India reports higher Rs 6,430 cr loss for FY19 on NPA divergence
The net NPA divergence -- the difference between the NPAs reported by the bank and that assessed by the RBI -- was at Rs 2,565 crore for 2018-19.
CBDT apprises CEC of I-T action against Lavasa family
The CBDT has recently written to CEC Sunil Arora with details on the alleged income tax evasions by Lavasa’s family members. IT notices have been issued to Lavasa’s wife and son.
Govt extends due dates of filing GST for FY 2017-18 to 31st December
Central Board of Indirect Taxes & Customs: Government extends the due dates of filing of Form GSTR-9 (Annual Return) and Form GSTR-9C (Recon...
CBDT mops up Rs 6 lakh cr in direct tax collection so far
"During the beginning of the year, we were given the tax collection (target) of Rs 13.35 lakh crore. Of this, we have already collected Rs 6 lakh crore so far," Central Board of Direct Taxes Chairman P C Mody said after inauguration of the Taxpayers Lounge at New Delhi's Pragati Maidan.
Budget 2020: FinMin seeks suggestions for rationalising income tax, other duties
While the ministry holds pre-budget consultations with representatives of different sectors and stakeholders, the Department of Revenue in the finance ministry perhaps for the first time put out circular seeking suggestions for changes in income tax rates for both individuals and corporates as well as in indirect taxes such as excise and customs duty.
'Bala' on a roll: Ayushmann Khurrana-starrer mints Rs 100 cr worlwide, actor thanks fans in Hindi
'Bala' minted over Rs 10 crore on its opening day.
YES Bank’s FY19 profit shrinks on Rs 2,299 crore NPA divergence
Adjusted profit for FY19 after taking into account divergence in provisioning was Rs 1,084 cr.
Sunni Central Waqf Board chairman welcomes SC verdict on Ayodhya
The Sunni Waqf Board has welcomed the apex court's decision on Ram janmabhoomi-Babri masjid land dispute case. The Supreme Court, in a unanimous verdict on Saturday, paved the way for the construction of a Ram Temple at the disputed site at Ayodhya and also allotted 5-acre land to the Sunni Waqf Board for building a mosque.
Income Tax task force report suggests complete rejig of tax slabs, saving govt Rs 55,000 crore
The current Income Tax rates are 5 per cent plus 4 per cent cess for people earning between Rs 2.5 lakh and Rs 5 lakh, 20 per cent plus 4 per cent cess for incomes of more than Rs 5 lakh up to Rs 10 lakh, and 30 per cent plus 4 per cent cess for those earning over Rs 10 lakh.
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