The industry body also demanded additional incentives for savings and higher tax allowance for expenditure on education and health, quoting findings from its Aam Aadmi survey.
Its bad news for investors! The interest rates on small savings schemes like NSC and some post office schemes with maturity up to five years are set to fall from April onwards.
As per reports, central government employees are likely to expect basic pay hike of around 30%, which will be effective January 1, 2016.
India is a "lightly taxed" nation, Minister of State for Finance Jayant Sinha said Thursday, urging CAs to help the government collect due taxes and raise the tax-GDP ratio to 20 percent.
The unions have decided to oppose any proposal to retain the existing rate of 8.75 percent for the current fiscal along with a uniform bonus of Rs 200 to all subscribers at meeting of the EPFO's trustees on February 16.
What if you do not get any interest on your Employees Provident Fund account in 2015-16, but only get bonus on the same, provided you fulfill certain conditions?
Income Tax Department has identified 4,000-5,000 foreign companies based in this megapolis that are not paying taxes on time, including due to tax disputes, and expects to soon recover from them dues totalling nearly Rs 8,000 crore.
After two successive years of revising downward the tax revenue target, fiscal 2015-16 which ends on March 31 is likely to see tax revenue target of Rs 14.49 lakh crore being met.
The Budget 2016-17 is expected to increase the income tax exemption tax limit, and offer more tax deductions
Income Tax Department on Friday cautioned taxpayers not to share their PIN or password of mails saying it never ask for such details.
To ease communication with the Income-Tax department, the government has allowed tax payers to reply to notices using their registered email address.
Ministries and departments can raise afresh the demand for pay revision if they find that some of the justified suggestions made by the staff associations were not accepted by the 7th Central Pay Commission.
Switzerland's tax cooperation with India is being negatively impacted over the "contentious" issue of sharing information based on illegally obtained data, according to the Swiss government.
The Life Insurance Corporation of India (LIC) Monday launched its own insurance repository – LIC E-services -- which will allow its existing customers to check details of policies, including settlement status, online as well as buy new ones.
Prime Minister Narendra Modi does not seem to keep much cash in hand even as his total assets have gone up to Rs 1.41 crore -- largely due to a residential property that has appreciated by more than 25 times since purchase over 13 years ago.
Over 11 lakh taxpayers have filed their IT returns for Assessment Year 2014-15 after the department tracked them under a special drive to identify those who have not filed their returns despite having an obligation to do so, according to official data.
Government should raise tax exemption limit for health insurance and introduce fiscal measures to help increase its penetration, say industry officials.
Income Tax department is emphasising on creating greater awareness on tax deducted at source (TDS) compliance.
Finance Minister Arun Jaitley Saturday hoped the Congress will "see reason" and help in passage of GST legislation, stuck in Rajya Sabha, in the Budget session of Parliament beginning next month.
Call it a good news or bad news! The empowered committee of secretaries is likely to process the 7th CPC report only after the OROP will be executed