Aimed at making life easier for tax payers, the I-T department on Thursday said it simplified the process of online rectification of incorrect details of tax deducted at source (TDS) filed in the income tax return (ITR).
Amid ongoing political turbulence, Minister of State for Finance Jayant Sinha Wednesday said that meeting April 1 deadline for GST rollout seems to be "challenging."
Even as the government and the Opposition are locked in hot debate in the Parliament over the passing of the Goods and Servive Tax (GST) Bill, the Finance Ministry Committee has listed several risk factors involved in the implementation of the bill.
The income projections for the current fiscal suggest that the retirement fund body EPFO can pay rate of interest which is slightly higher than 8.75 percent provided in 2013-14 and 2014-15.
The Constitution Amendment Bill to roll out Goods and Services Tax is stuck in the Rajya Sabha due to stiff opposition by the Congress party and might be delayed further because of the tough stance taken by the main opposition party over the National Herald case issue.
LIC has eased the procedure for settlement of claims on the lives of flood victims who are policyholders, the insurer said in a statement.
Chief Economic Advisor Arvind Subramanian Monday defended a three-rate structure for GST, including a demerit or 'sin' tax of 40 percent on products like tobacco and luxury cars, saying the recommendation is based on the current tax structure.
The CBDT has notified use of emails as the new mode of communication between the taxman and taxpayers.
With a view to bring all relevant information regarding health insurance policies at one place, Irdai chairman T S Vijayan will launch here tomorrow a portal 'Registry of Hospitals in Network of Insurers' (Rohini).
Finance Ministry wants Employees' Provident Fund Organisation (EPFO) to retain 8.75 per cent rate of interest on PF deposits for 2015-16 although the retirement fund body is in a position to give better returns to its over five crore subscribers.
In good news for lakhs of taxpayers awaiting their IT refunds, the government has directed the taxman to "expeditiously" settle claims involving less than Rs 50,000.
Finance Ministry is likely to decide towards the end of December how much interest you would earn on schemes like Post Office MIS, PPF, Post Office schemes, Senior Citizen's Savings Scheme, Sukanya Samriddhi Accounts etc.
In view of floods, ICICI Bank today said it has decided not to impose any penalty on its Chennai customers for delay in EMI payments for November.
Many central government employees claim that they would be drawing lower monthly salary under the 7th pay commission than what they are currently drawing under the sixth pay commission.
To widen the tax base, a Parliamentary panel on Thursday asked the government to use its resources with "strict vigil" over non-TDS income group and which are lying above Rs 5 lakh annual income bracket.
Foreign direct investment in the insurance sector more than doubled to USD 341.43 million during March-September this year, Parliament was informed Wednesday.
The interest amount pertains to such loans, meant for overseas studies, taken by the parent of the ward.
Finance Minister Arun Jaitley said on Tuesday that Goods and Services Tax Bill (GST) is the need of the hour and would be a game changer once it gets parliament`s nod.