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France rejects 'optional' US digital tax proposal
France has been at the forefront of efforts to tighten taxation of digital giants and parliament infuriated the administration of President Donald Trump in July by adopting a law taxing digital firms like Google, Apple, Facebook and Amazon for revenues earned inside the country.
US hurdle in unified plan to tax digital cos
India was an active participant in the deliberations, as highly digitalised global companies hav...
Banks can’t claim tax relief on FD insurance
Reversal of credit would lead to an increase in cost by anywhere between Rs 200 to Rs 500 crore ...
Auto sector slowdown affecting GST compensation cess kitty: Sushil Modi
Sushil Modi, who heads the Group of Ministers (GoM) on GST revenue shortfall, said that the economic slowdown, particularly the muted sales in the automobile sector, is leading to lower collections in the new indirect tax regime. Speaking at an event, he said that the automobile sector is a major contributor to the GST compensation pool.
Govt should provide strong stimulus package for economy: Kumar Mangalam Birla
"One of the things that it (govt) can also do is to give stronger fiscal stimulus,"Kumar Mangalam Birla said.
Parliament okays corporate tax cut; FM says software developers, miners not eligible for lower rates
Replying to a debate on the legislation, Sitharaman said a negative list of activities that do not constitute manufacturing has been created and will not be eligible for the lower 15 per cent tax rate for manufacturing firms that are set up after October 1 and that begin operations by 2023.
While trade war between US & China escalated, couldn't have waited to slash corporate tax: Nirmala Sitharaman
FM Sitharaman had in September announced corporate tax rate cut from an effective 35% (including surcharges and cesses) to an effective 25.17% while the rate for new manufacturing companies reduced to 15% from 25%.
Tax dept issues 2.10 crore tax refunds till November; Rs 1.46-lakh crore refunded
It processed 2.10 crore tax refund cases for current Assessment Year 2019-20 as on November 28, 2019, compared to 1.75 crore refunds for the same period in FY 2018-19, an increase of 20 per cent. The total amount of refunds issued in FY 2019-20 till Nov 28 was Rs 1.46 lakh cr as compared to Rs 1.19 lakh cr in the same period of the previous year.
France, US Spar over Digital Tax
The French parliament infuriated the administration of President Donald Trump in July by adopting a law taxing digital firms like Google, Apple, Facebook and Amazon for revenues earned inside the country. Talks to resolve the issue have so far failed, and on Monday Washington threatened to impose tariffs of up to 100% on $2.4 billion in French goods.
ELSS and IDFC Tax Advantage (ELSS) fund
ELSS and IDFC Tax Advantage ELSS fund Equity Linked Saving Scheme ELSS is a category of mutual fund that lets you invest in equity market for long term w...
RBI may wait for Budget announcements before taking rate cut decision
“The forthcoming union budget will also provide better insight into further measures to be undertaken by the government and its impact on growth. Against this backdrop, the MPC judged that there is monetary policy space for further action, but it felt it appropriate to take a pause at this juncture.”
Will consider suggestions for personal I-T cut: Finance minister Nirmala Sitharaman
Her comments on personal income tax rates came in response to a question from TMC member Saugata Roy during a discussion in Lok Sabha where she was piloting the bill to amend corporate tax rates. She said she valued everybody who earned their living, paid their tax and took care of their family and business. “So, personal income tax will be considered for its merit.
View: It's time for a fair distribution of GST proceeds between Centre and states
A lion’s share of GST goes to states. Actual transfers of the Centre’s gross tax collections are about 36%.
View: It's time for a fair distribution of GST proceeds between Centre and states
A lion’s share of GST goes to states. Actual transfers of the Centre’s gross tax collections are about 36%.
Tax rate cut aimed at attracting investments: Finance Minister
Nirmala Sitharaman said the move will help attract investment from multinationals looking to shift operations from China in view of its trade war with the US. The finance minister also ruled out lowering tax rate for limited liability partnerships or partnership firms, saying their structure was different from a corporate vehicle.
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