Tax | The Asian Age

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Reserve Bank of India's dividends are set to halve this year to Rs 307 billion (0.2 per cent of Gross Domestic Product) estimated the DBS.

India will benefit from growing tax revenue in FY2018: DBS

As of April-July, direct taxes were up 19 per cent Year on-Year and indirect up 16 per cent (April-June).

18 Aug 2017 1:13 PM

Niti Aayog Vice-Chairman designate Rajiv Kumar. (Photo: Twitter)

GST rollout lowers overall tax burden: Niti VC designate

GST overhauling India's convoluted indirect taxation system and unifying USD 2 trillion economy.

09 Aug 2017 9:38 AM

Additional tax burden caused by the increase in compensation cess rates will put further pressure on the livelihood of Indian tobacco farmers.

Farmers seek rollback of additional levy on cigarettes

GST Council in July raised cess on cigarettes to take away an estimated Rs 5,000 cr annual benefits.

03 Aug 2017 2:24 PM

Union Cabinet approved the signing of a MoC with respect to tax matters between India and the revenue administrations of the BRICS countries.

Cabinet nods MoC between India and BRICS countries on tax matters

The MoC envisages regular interaction amongst Revenue administrations of BRICS countries to discuss on common tax concerns.

20 Jul 2017 9:57 AM

World Bank's findings on ease of doing business do not provide correct picture of Indian trade and commerce, said government officials.(Representational Image)

Govt objects to India's low rank on World Bank's 'Doing Biz' report

India was placed at 172nd position out of 190 nations in 'Paying Taxes' section of World Bank's 'Doing Business' report.

09 Jul 2017 11:16 AM

GST will have a positive effect on the gold industry by making the sector more transparent and improving the supply chain.

GST could dampen India gold demand in short term: WGC

Goods and Services Tax (GST) on gold has jumped to 3 per cent from 1.2 per cent previously.

06 Jul 2017 2:15 PM

Indian businesses ill-prepared for GST transformation

Industries are on strike, others are facing an avalanche of paperwork, while some retailers remain confused.

29 Jun 2017 1:53 PM

The short-term capital gain of Rs 24,503 crore at the hand of CUHL was confirmed by income tax tribunal ITAT in March.

Cairn created maze of subsidiaries, taxed Rs 10,247 crore

The income tax department, documents showed, calculated the cost of acquisition as 251.22 million pound.

25 Jun 2017 2:01 PM

BJP governments in Uttar Pradesh and Maharashtra announced a more than $10 billion loan write-off for farmers. (Photo: PTI)

Farmer protests push for rise in edible oils import tax

Farmers are demanding better prices for their produce and billions of dollars in debt relief.

22 Jun 2017 1:08 PM

The association has requested to "maintain status quo" in this regard by treating tobacco "on par with other agricultural crops". (Photo: Pixabay)

Farmers ask Govt to roll back 5 per cent GST on raw tobacco

Tobacco farmers across Andhra Pradesh have stalled auctions in all platforms.

13 Jun 2017 1:46 PM

Tamil Nadu Finance minister D. Jayakumar. (Photo: File)

GST bill to be introduced in June 14 session of Tamil Nadu Assembly

GST on entertainment sector should be kept at 12 per cent so that the local bodies could also levy their own tax.

11 Jun 2017 5:23 PM

GST payments on procurement of goods, import of aircraft, aircraft spares are not available for economy class travel. (Representational image)

With GST, airlines might face taxation air pockets

Government has not given any tax relief with regard to import of aircraft and its spare parts.

11 Jun 2017 12:34 PM

The move to ban cash transaction above a threshold was aimed at curbing black money by discouraging cash transaction and promoting digital economy.

I-T warns against cash dealings of Rs 2 lakh, seeks tip-off

In the 2017-18 Budget, Finance Minister Arun Jaitley had proposed to ban cash transaction of over Rs 3 lakh.

02 Jun 2017 1:32 PM

At 21.9 per cent of GDP in 2016, the government revenues were lower than the 26.1 per cent median for Moody's 'Baa'- rated sovereigns.

Reform measures to broaden tax base, cut debt: Moody's

GST will have a muted short-term impact, but its benefits will accrue over medium term.

01 Jun 2017 12:32 PM

Taxes paid on inter-state purchases of goods or availing services will also be eligible for input tax credit.

Various tax slabs under GST worry traders: CAIT

As per an analysis, 1,211 goods and 36 services have been so far classified under GST.

29 May 2017 9:09 AM

The due date for filing such SFT in Form 61A is May 31.

CBDT issues clarification on furnishing SFT

Entity having TAN can generate an ITDREIN only when such TAN's Organisational PAN is not available.

26 May 2017 12:44 PM

Meanwhile, the gold demand during Q1 (January-March, 2017) grew by 15 per cent to 123 tonnes.

Tax burden on gold should reduce under GST regime: WGC

GST will bring lot of transperency in the gold industry including check on illgeal imports.

25 May 2017 5:22 PM

Finance Minister Arun Jaitley heads GST Council. (Photo: PTI)

GST on gold deferred; education, healthcare exempt

Tax rates for gold and gold jewellery likely to be decided at GST Council's June 3 meeting instead.

19 May 2017 3:14 PM

Consumer Affairs Minister Ram Vilas Paswan.

Consumers to pay less for common items under GST: Paswan

Free movement of goods will ensure easy availability and keep prices under check.

19 May 2017 10:39 AM

Eight large deals valued at over USD 100 million contributed to around 70 per cent of the total PE deal values last month.

PE investments bounce back; April sees deals worth USD 3.16 bn

PE investment values saw a marginal increase with 8 per cent rise in investment values.

14 May 2017 12:19 PM

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Shobhaa De