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PAN allotment only after checking original documents: I-T dept

Last Updated: Friday, January 24, 2014, 18:47

Applicants for Permanent Account Numbers (PAN) will have to produce original documents of proof of identity, address and date of birth for verification at the time of applying.

I-T Dept restrains Cairn Energy from selling India stake

Last Updated: Friday, January 24, 2014, 15:29

The Income Tax Department, which is probing Cairn Energy plc's transfer of India assets, has asked the UK-based company not to dispose of its 10.3 percent holding in Cairn India.

Vodafone tax row: High Court puts off hearing to Jan 30

Last Updated: Wednesday, January 22, 2014, 14:54

The Bombay High Court has fixed January 30 for further hearing on a petition filed by Income Tax department challenging a recent order of the Appellate Tribunal which stayed the tax demand of Rs 3,700 crore on Vodafone India Services in an alleged transfer pricing case.

Indirect tax collections up 6.2% in Apr-Dec

Last Updated: Sunday, January 19, 2014, 10:58

Amid slowing economy, indirect tax collections grew by 6.2 percent in the April-December period of this fiscal.

Nokia tax case: HC defers hearing on plea of Income Tax dept

Last Updated: Friday, January 17, 2014, 19:20

The Delhi High Court on Friday deferred the hearing to January 20 on the pleas of Income Tax department seeking "directions/clarifications" on the December 12 order by which the assets of mobile phone handset maker Nokia in India were defreezed.

Radia tapes: CBI finds no criminality 'so far'

Last Updated: Tuesday, December 24, 2013, 20:46

CBI has informed Supreme Court that it has "so far" not found any criminality in the 14 preliminary enquiries registered on the basis of intercepted conversations of corporate lobbyist Niira Radia.

Kingfisher Airlines assets attached on tax default

Last Updated: Sunday, December 15, 2013, 18:32

The Income Tax department has attached all assets of cash-strapped Kingfisher Airlines for failing to remit taxes amounting to Rs 350 crore, a senior official said Sunday.

IT Dept asserts first claim to recover dues from Kingfisher

Last Updated: Saturday, December 14, 2013, 13:55

Asserting its primary claim, the Income Tax Department has maintained that dues to it will have to be settled first by Vijay Mallya-led Kingfisher Airlines, in the wake of a lender consortium of banks laying claim to "Kingfisher House" in Mumbai to recover part of their loans.

Court accepts Nokia's plea to lift factory freeze in tax dispute

Last Updated: Thursday, December 12, 2013, 14:57

The Delhi High Court on Thursday accepted Nokia's plea for a direction to Income Tax department for lifting of the stay on transfer of assets in view of its USD 7.2 billion global deal with Microsoft.

Nokia tax plea: High Court verdict Thursday

Last Updated: Wednesday, December 11, 2013, 21:15

The Delhi High Court will pronounce Thursday its verdict on Nokia's plea for a direction to Income Tax department for lifting of the stay on transfer of assets here in view of its USD 7.2 billion global deal with Microsoft.

IT Dept rejects Nokia's offer to pay Rs 2,250 cr in tax row

Last Updated: Monday, December 02, 2013, 18:51

The Income Tax (IT) Department Monday told the Delhi High Court that the offer of Finnish mobile maker Nokia to pay a minimum deposit of Rs 2,250 crore to it, out of the company's total tax liability of nearly Rs 6,500 crore, is not acceptable.

Service tax amnesty scheme yields Rs 1,500 cr

Last Updated: Wednesday, November 13, 2013, 20:12

Service tax amnesty scheme has so far yielded Rs 1,500 crore in revenue for the government, with 6,283 assessees taking advantage of the VCES that was announced in the Budget 2013-14.