The Centre has extended by six months, till April 15 next year, the deadline for central government employees to file the details of their assets and liabilities, along with that of their spouses and dependent children, as mandated under the Lokpal Act.
Government is set to unveil an ambitious PAN activity monitoring and analysis software tool that will enable Income Tax department to check transactions history of a person country-wide and help sleuths in effective tracking of black money trail.
Those earning Rs 4 lakh per annum, besides people in tier-II and tier-III cities with taxable income but not paying taxes are on the radar of the Income Tax department which has launched an ambitious drive to net one crore new assesses this financial year.
Promising a simple and globally competitive tax regime, Finance Minister Arun Jaitley on Monday said the government is confident of the new GST regime to roll out from the next fiscal and expressed confidence about an early resolution of pending disputes on direct taxes front.
The government is keen on early resolution of the three pending tax disputes -- involving foreign giants Vodafone, Cairn and Shell -- and the best way to get an expeditious disposal is being worked out, Finance Minister Arun Jaitley said on Sunday.
Promising more reforms, Finance Minister Arun Jaitley Thursday said efforts are being made to "put to sleep" pending taxation issues to attract investments and make fundamentals of the economy sound so that it can withstand the global turmoil.
India plans to address some pending tax disputes in the next few days, Finance Minister Arun Jaitley said on Thursday, but did not give details or say whether the cases in question included disputes with foreign companies that have spooked investors.
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