I-T officials push for deadline extension of revised returns, tax amnesty schemes
Tax officials of Mumbai, the city that accounts for more than a third of the national mop-up, have urged that deadlines be eased for the dispute resolution or the Vivad se Vishwas (VsV) scheme, and cases under the Black Money Act. Separately, officials from Mumbai, Delhi, Chandigarh, Goa, Madhya Pradesh and Chhattisgarh have written to CBDT.
Nod for Direct Tax amnesty scheme to cover debt recovery tribunals
The Cabinet’s approval to infuse Rs 2,500 crore into National Insurance Co...
Tax amnesty scheme: Taxman's pay hikes, postings to be linked with mop-ups under Vivad se Vishwas
The 'Vivad se Vishwas' scheme for resolving...
Vodafone, Cairn eligible for settling disputes under tax amnesty scheme
The two will need to pay their taxes by March to benefit from the scheme, the CBDT chief said.
CBDT names nodal officers to bring PSUs on board ‘Vivad se Vishwas’ scheme
Three senior tax officials to work with various ministries and ensure that PSUs join the tax amnesty scheme. This is the latest in a series of directives issued by the Central Board of Direct Taxes to ensure maximum participation in the tax amnesty scheme. Mumbai, which contributes 37% of the country’s total direct tax collection, has lined up a list of 53 CPSUs and 45 state PSUs.
CITU condemns cut in small savings schemes interest rates
"This will affect financially the mass of the populace, the superannuated, income-less several crores of senior citizens in particular who survive mainly on the meager return on their savings," Tapan Sen, general secretary of CITU said in a statement.
Govt hikes wages under rural employment guarantee scheme
The average hike of Rs 20 in the wages of rural workers is part of the Rs 1.7 lakh crore fiscal package announced recently to mitigate the economic crisis arising out of the outbreak of COVID-19. According to the statement, focus of Mahatma Gandhi NREGS may be on individual beneficiary-oriented works which directly benefit SC, ST and women headed households as well as small & marginal farmers and other poor households.
Govt to transfer Rs 2,000 under PM-KISAN scheme to 8.69 crore farmers in April 1st week
Announcing the relief measures within 36 hours of nationwide lockdown, Finance Minister Nirmala Sithraman said: "Farmers receive Rs 6,000 annual from PM-KISAN. We will now be giving the first installment of that as a front-loaded matter, so that at the beginning of the year they will get Rs 2,000".
Government approves insurance scheme for health workers fighting COVID-19
"The medical insurance scheme would include sanitation staff, doctors, Asha workers, paramedics and nurses. These professionals are not considering their own health risks and have been attending to Coronavirus patients," FM announced at a presser.
Large taxpayers yet to take benefits of Sabka Vishwas amnesty scheme
As per sources, 161,214 taxpayers out of the total 1.84 lakh eligible taxpayers have already availed the scheme.
New Income Tax legacy disputes amnesty scheme may net Rs 2 lakh crore
This amnesty scheme could mirror the Sabka Vishwas scheme which was targeted at customs and excise dispute resolution amnesty scheme in which the government has mopped up at least Rs 38,000 crore.
Avail scheme to get out of demonetisation jam: Revenue secy Ajay Bhushan Pandey
The scheme will be with regard to unexplained bank deposits and not cash unearthed in raids. Finance minister Nirmala Sitharaman had announced a ‘Vivaad se Vishwas’ scheme in the budget with a view to cut down on litigation.
Government to bring settlement scheme for LLPs
The government will come out with a one-time settlement scheme for Limited Liability Partnerships (LLPs) that will provide more time to submit their pending documents as well as immunity from prosecution for defaults.
Taxpayers can now file declarations under 'Vivad Se Vishwas' scheme
“The tax department has finally operationalised the ‘vivad se vishwas’ scheme by notifying forms and rules. Also, an online utility has been activated to enable filings by tax payers today,” said Rohinton Sidhwa, partner at Deloitte Haskins & Sells.
Covid-19: Centre chalks out four schemes to boost production of bulk drugs and medical devices
The first scheme is helping states establish three bulk drug parks spread over at least 1,000 acres. The Centre will provide help through grant-in-aid of up to Rs 1,000 crore. This amount will be for different common facilities like solvent recovery plant, power and steam units, distillation plants and effluent treatment plants, says Mansukh Mandaviya.
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