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Tax

GST: Consensus on dual control reached, says Arun Jaitley

GST: Consensus on dual control reached, says Arun Jaitley

In a major boost for the government, Finance Minister Arun Jaitley on Monday informed that a consensus between the state and the centre has been reached on dual control of the goods and services tax (GST).

PAN card must for all bank account holders by February 28

PAN card must for all bank account holders by February 28

In yet another to fight against black money and tax evasion, the government has notified that all individuals having bank accounts will have to update their PAN or Form-60 if PAN not available by February 28, 2017.

Government extends tax dispute resolution scheme by one month

Government extends tax dispute resolution scheme by one month

The government on Friday extended the tax dispute resolution scheme by one month to January 31, 2017.

No cash payment in demonetised notes for PMKGY after Dec 30: IT official

No cash payment in demonetised notes for PMKGY after Dec 30: IT official

No one will be able to pay tax, surcharge, penalty and deposits under the Pradhan Mantri Garib Kalyan Yojana (PMGKY) scheme in demonetised notes after December 30, even though the scheme will continue till March 31, 2017, an Income Tax official said on Wednesday.

Post raids, black money to attract over 137% in tax, penalty

Post raids, black money to attract over 137% in tax, penalty

Black money holders will have to bear taxes and penalties amounting to as high as 137 percent if they do not admit to or fail to explain the source of undisclosed income after being raided, the income tax department today said.

IT Department puts name of tax defaulters on their website

IT Department puts name of tax defaulters on their website . Watch the full segment for more details.

IT Department to take action against 67 lakh people for tax fraud

IT Department to take action against 67 lakh people for tax fraud . Watch the full segment for more details.

Government may implement tax on withdrawal of cash

Government may implement tax on withdrawal of cash. Watch the full segment for more details.

MONEY GURU | What is the provision of tax benefit on tuition fee | Part 02

What is the provision of tax benefit on tuition fee . Watch the full segment for more details.

Govt exempts deposit in bank a/cs of political parties from income tax subject to conditions

Govt exempts deposit in bank a/cs of political parties from income tax subject to conditions

This move by the government comes even as it levies stiff penalties on unaccounted cash in banks following the demonetisation move.

Black money crackdown: Rs 65,250 crore mopped up via Income disclosure scheme (IDS)

Black money crackdown: Rs 65,250 crore mopped up via Income disclosure scheme (IDS)

Income declaration scheme (IDS), 2016 was a scheme introduced by Narendra Modi led government to unearth black money and bring it back into the system.

Demonetisation: FM Arun Jaitley hints at lower tax rates

Demonetisation: FM Arun Jaitley hints at lower tax rates

Citing the advantages of the demonetisation, Finance Minister Arun Jaitley said on Tuesday that higher tax revenues would enable the government at some stage to make taxes more reasonable

Indirect tax mop-up grows 26.2%, direct tax up 15.12% in April-November

Indirect tax mop-up grows 26.2%, direct tax up 15.12% in April-November

Government's revenue collection in April to November saw indirect tax-mop up growing at an impressive 26.2 percent while that of direct tax came in at 15.12 percent.

No plan to impose tax on farmers: Ravi Shankar Prasad

Union Minister Ravi Shankar Prasad has said that there was no plan to impose tax on farmers for their produce or on women for their jewellery.

Demonetisation: Over Rs 130 crore in cash and jewellery seized, says CBDT

Demonetisation: Over Rs 130 crore in cash and jewellery seized, says CBDT

Following the demonetisation move, over Rs 130 crore in cash and jewellery has been siezed while taxpayers have admitted Rs 2,000 crore undisclosed income, the Central Board of Direct Taxes (CBDT) informed on Tuesday.

IDS gets Rs 67,382 crore, over Rs 2,000 crore higher than estimate realised

IDS gets Rs 67,382 crore, over Rs 2,000 crore higher than estimate realised

The figure of black money disclosed under Income Declaration Scheme (IDS) was revised to Rs 67,382 crore by the Finance Ministry on Sunday. This is Rs 2,000 crore highe than the earlier number.

Demonetisation impact: Greater Hyderabad Municipal Corporation collects over Rs 160 crore in just four days

Demonetisation impact: Greater Hyderabad Municipal Corporation collects over Rs 160 crore in just four days

Demonetisation of high-value currency notes by the Centre has spelt windfall for the Greater Hyderabad Municipal Corporation (GHMC) as it collected over Rs 160 crore in four days.

Demonetisation: Tax department will not hound small depositors, assures Arun Jaitley

Demonetisation: Tax department will not hound small depositors, assures Arun Jaitley

Finance Minister Arun Jaitley on Thursday assured people that taxman will not hound those making small deposits in scrapped Rs 500/1,000 currency, but advised them not to throng banks as there is enough time to exchange the junked notes.

Govt to keep tabs on deposits over Rs 2.5 lakh, to attract tax plus 200% fine on income mismatch

Govt to keep tabs on deposits over Rs 2.5 lakh, to attract tax plus 200% fine on income mismatch

Any mismatch with income declared by the account holder will be treated as a case of tax evasion and thus attract tax plus a penalty of 200 percent, the government said.