Page 2 - Tax Payment

14 firms approach govt to settle retrospective taxation cases: Revenue Secy

The government in August enacted a law to end all retrospective taxation imposed on indirect transfer of Indian assets

Govt waives late fee on delayed filing of March, April GSTR-3B, tax payment

The government has waived late fee on delayed filing of monthly return GSTR-3B and tax payment for the months of March and April and also cut interest rate for late filers

CBDT clamps down on coercive assessment, tax recovery measures by officers

Says recovery surveys be resorted to only if assessee is not responding to notices, can only be undertaken by those in investigation or TDS wing of tax dept

GST-registered businesses to get pre-filled return form soon: GSTN CEO

GSTN, which handles the IT backbone for GST has already started providing tax liability data based on sales return GSTR-1 of the taxpayer to be used in his tax payment form GSTR-3B in pdf form

Taxes taking a bite out of your salary? Use Section 197 to manage cash flow

Only payments made after submission of this certificate are eligible for lower or nil tax rate

Many landmark decisions by Modi govt to honour honest taxpayers: Amit Shah

Union Home Minister Amit Shah on Thursday said the Narendra Modi government has taken several key decisions to empower and honour honest taxpayers and launch of 'Transparent Taxation-Honoring the Honest' is a gift to the taxpayers. The Prime Minister on Thursday unveiled a faceless tax assessment and appeals to reduce the scope for corruption and overreach by officials. "Modi govt has taken several landmark decisions to empower and honour the honest taxpayers who are the backbone of India's progress & development," Shah tweeted. Shah said this platform is another step towards the prime minister's resolve of 'Minimum Government, Maximum Governance'. "Reforms for a New India! Launch of 'Transparent Taxation-Honoring the Honest' is a gift to our taxpayers by PM @narendramodi & FM @nsitharaman. With reforms like faceless assessment, faceless appeal & taxpayers charter this platform will further strengthen our taxation system," he said in another tweet. On the major overhaul of

Delhi govt warns strict action against companies defaulting on tax payments

Cracking the whip on tax defaulters, the Delhi government Tuesday warned them of stringent action as it found that 10,800 companies did not pass on the full amount they collected from people as taxes

Covid-19: Tamil Nadu gives 3-month extension for payment of taxes, loans

The state also urged house owners to consider being lenient with tenants on rentals

NPA norms may be eased, tax deferment likely in coronavirus healing touch

These are among the measures that could be discussed in the Covid-19 Economic Response Task Force

I-T dept to move SC against Reliance Jio's plan to sell stake in tower arm

Mumbai, 24 DecemberReliance Jio Infocomm's plan to reduce debt by selling stake in its telecom tower arm to Canadian investor fund Brookfield isn't free of the income tax (I-T) department hurdle. The latter plans to petition the Supreme Court against the National Company Law Appellate Tribunal (NCLAT) order of December 20 which cleared Jio's proposed demerger of tower and fibre optic network assets to two infrastructure trusts. The clearance was in spite of I-T objections. The department argued that the proposed conversion of preference shares worth Rs 65,000 crore by Jio - by cancelling and then converting these into loans -- would substantially reduce the profit of the demerged company. And, so, cause huge loss of revenue to the department. In sum, a move to avoid and evade taxes, it contended. Jio denied the charges. An e-mail sent this week by this publication to Reliance for its views on the issue did not elicit a response.In July this year, Brookfield had said it would pay Rs ..

CAA: CBDT extends advance tax payment deadline for Northeast to Dec 31

Earlier, the deadline was Sunday, December 15

Paying your income tax may soon become as easy as swiping a card at a shop

UPI is an instant, real-time payment instrument developed by the National Payments Corporation of India

E-assessment of taxpayers: Video conferencing in, personal interviews out

Faceless assessment scheme, however, provides video conferencing facility to those seeking changes in draft assessment order

The pesky priests

Jet-borne economists are very much like the Victorian priests who invaded India in the 1870s and hugely influenced legislation

To pay or not to pay? Key tax suggestions that you shouldn't ignore

Taxability in India depends on the tax residency status of the individual

Global ageing and fiscal solvency

The most likely alternative would be to use general income tax revenue to maintain the level of benefits

Customs to approach businesses before issuing formal show cause notice

The regulation was notified by the Central Board of Indirect Taxes and Custom (CBIC)

Get capital gains benefit in case of project delay

Only the amount invested during the stipulated time mentioned in the law will be eligible