Hardcastle wants higher GST & input tax credit
The move could have a huge implication for the country’s restaurant sector Restaurants across India, such as McDonald’s and Pizza Hut, are currently levied 5% GST and they cannot claim ITC on the tax paid on expenses, including raw materials and rent.
NPS partial withdrawal rules and how it is taxed
NPS offers two types of accounts for an individual - Tier-I and Tier -II. It is mandatory to...
FASTags a must for all vehicles from Dec 15. Here’s how to get one
FASTags will become mandatory for all vehicles, private and commercial, fr...
Don’t ignore taxes while investing in mutual funds to achieve goals
Gone are the days when long-term capital gains on equity mutual funds were tax exempt. Now, if you sell your equity mutual funds after a year, you must pay a long-term capital gains tax .
PPFAS Mutual Fund to hold its 6th AGM in Bangalore, Mumbai
PPFAS Mutual Fund is planning to start its sixth Annual General Meetings (AGM) later this year. The meetings will begin in Bengaluru on November 30, followed by Mumbai on December 7, a press release from the fund house said.
CBIC suspends Assistant Commissioner on charges of disproportionate assets
Central Board of Indirect Taxes and Customs on Wednesday suspended Deepak Pandit, Assistant Commissioner for his alleged involvement in disp...
NPS pension benefits are not same for voluntary and normal retirement
When a person retires earlier, it is normally expected that his/her post-retirement life would be longer (unless one takes up a second career). Consequently, the person would be expected to need more money to sustain post-retirement.
Six Tata trusts to challenge tax department order in tribunal
Six Tata trusts had their registrations cancelled & will now challenge the order before ITAT.
Four arrested for Rs 400 cr GST fraud, ED might join probe
The CGST department has arrested four persons for allegedly making false input tax credit (ITC) claims causing loss to the exchequer to the tune of at least Rs 400 crore.
21 I-T officers accused of corruption asked to retire
According to Government sources, the Central Board of Direct Taxes (CBDT) compulsorily retired yet another 21 Group B officers of the rank of ITO (Income Tax Officer).
Buildings composting green waste in Nashik to get 5% concession in property tax
The move is aimed at reducing the waste that the civic body collects from households on a daily basis and that will in turn save money spent on the collection of waste.
One nation, one ration card: Inside food ministry's ambitious scheme to make ration cards portable
The food ministry is moving towards making ration cards portable to help migrant workers.
GST calls from small town tax officers spook financial services companies
Companies have been under scrutiny from indirect tax offices as far apart as Kolhapur, Rajahmundry, Vijaywada, Mysore and Mangalore. Now, several financial services companies have started receiving written enquiries from tax officers based in small towns seeking details around organisational structures, revenues and Goods and Services Tax (GST) paid.
Tax optimiser: NPS, LTA claim can help salaried Gupta cut tax by Rs 4 lakh
Not only should you ask your employer for the NPS benefit, but you should also invest in the scheme on your own. You can reduce your tax outgo significantly. Hence in this way, you can optimise your tax by rejigging your income and investments.
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.
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