It’s time to revisit income tax rates: Bibek Debroy, Chairman PMEAC
This year we are around 5% and next year 6-6.5%, the PMEAC chairman said about the country's GDP growth.
Average customer unlikely to pay for outgoing calls, says Jio
The Mukesh Ambani-led telecom operator added that its new plan are offering up ...
GST Council meet: Centre to propose hiking 5% rate slab
Centre may propose hiking 5% GST rate to between 6% and 8%. GST officers panel to sug...
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Airtel, Vodafone Idea remove cap on free outgoing calls to other networks
Both the telcos, on December 1, announced new plans under which call and data charges became dearer.
Parliamentary panel asks government to prevent misuse of input tax credit under GST as collection slows
Two years after its launch, the government has begun the review of GST, including a possible resetting of rates along with the slabs, the Standing Committee on Finance headed by Jayant Sinha said in its report tabled in Parliament.
What an EU carbon border tax on steel, cement and aluminium might look like and who would be hit
The package will include a proposed "carbon border adjustment mechanism" for selected sectors to be introduced by 2021, according to a leaked Commission document, although design and feasibility details are still being worked out.
Missed ITR deadline? File it before December 31 to avoid paying higher penalty
The law of levying late filing fees under section 234F became effective from the financial year 2017-18 or assessment year 2018-19 onward. However, if your income is below the taxable limit, then you do not have to pay a late filing fee.
Recent cut in corporate tax rate was done to boost investments: CEA
"Private investment is the driver of economic growth. Steps that we are taking, be it corporate tax rate cut, be it code on wages and industrial relations, is to try and create a more favourable environment for investment," Chief Economic Adviser KV Subramanian said at the FICCI Young Leaders Summit. He said investment is required for a sustained economic growth.
52,720 Integrated GST refund claims pending for more than one year: Thakur
A number of companies applied for Goods & Services Tax (GST) refund since the introduction of the tax regime, he said, adding a total of 1,86,158 entities have filed 36,42,272 refund applications, out of which 34,46,010 refund applications have been finalised as on December 2.
Taxpayers need to be careful while assessing provisions in tax laws
This ordinance provided for significant tax cuts for domestic companies.
Taxmen catch Bengaluru dealers not issuing GST invoices, slap penalty
The officials also found suppressed turnover of about 21 crore involving taxes of about Rs 3 crore, Commercial Taxes Commissioner MS Srikar said in a press release. The officials visited business premises in the guise of customers at SP Road, BVK Iyengar Road, Sultan Pet, Raja Market etc., in Bengaluru and conducted test purchases of goods in 113 premises.
Tax optimiser: NPS, perks can help Yadalam reduce tax outgo by Rs 87,000
Yadalam should opt for the NPS benefit offered by his company. Under Sec 80CCD(2), up to 10% of the basic salary put in the scheme is tax free.
The next booster shot to revive economy may not be far away
Going by what the indicators are showing so far, third quarter doesn't hold any hopes of revival.
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