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AIF income to be taxed at 30%: CBDT

Last Updated: Tuesday, July 29, 2014, 17:52

Income of the Alternative Investment Funds (AIFs) will be taxed at the maximum rate of 30 percent, the revenue department has said.

I-T department to tighten noose around corporate bosses

Last Updated: Tuesday, July 29, 2014, 09:37

Expenses incurred on luxury cars, property purchase, coaching centres, earnings on fixed deposits will be closely watched by the I-T department.

Direct tax collection on rise: FM

Last Updated: Friday, July 25, 2014, 16:27

Reasonable tax rates lead to voluntary compliance in paying taxes and government has means like search and seizure to make people pay their dues, the Lok Sabha was informed on Friday.

Indirect tax collections up 4.6% in April-June

Last Updated: Friday, July 18, 2014, 19:38

The indirect tax collection target for 2014-15 fiscal stands at Rs 6.24 lakh crore.

'Achieving Rs 6.24 lakh cr in indirect taxes a challenge'

Last Updated: Monday, July 14, 2014, 21:45

It is a challenge to achieve the budget target of Rs 6.24 lakh crore in indirect taxes in the current financial year, a senior finance ministry official said Monday.

Jaitley to meet state FMs on GST next month

Last Updated: Thursday, May 29, 2014, 21:05

Keen to fast track Goods and Services Tax (GST), Finance Minister Arun Jaitley on Thursday reviewed the progress with regard to the rollout of the new indirect tax regime and decided to hold an early meeting with the state Finance Ministers to sort out pending issues.

CBDT ask officials to ensure M&As do not defraud revenue

Last Updated: Sunday, April 13, 2014, 12:26

As per the procedure, M&As are required to be vetted by the high court concerned.

Hopeful of achieving direct tax collection target of FY14: CBDT

Last Updated: Monday, March 24, 2014, 20:03

Pinning hopes on last minute rush of payment of taxes by corporate and individuals, the government is hopeful of achieving revised direct tax collection target of Rs 6.36 lakh crore for this fiscal.

73% of direct tax target collected till February

Last Updated: Sunday, March 02, 2014, 12:20

With over 73 percent of its revenue target collected by February, the Income Tax department is hopeful of achieving a full kitty of direct tax collection of Rs 6.36 lakh crore by the end of this financial year on March 31.

I-T dept identifies 21.75 lakh tax 'non-filers'

Last Updated: Friday, February 21, 2014, 21:13

In a last-ditch effort to meet revenue targets, the Income Tax Department on Friday said it has identified 21.75 lakh new "potential non-filers", and urged all tax payers to disclose their true income and pay appropriate taxes.

Direct tax collection up 12.33% in Apr-Dec at Rs 4.81 lakh cr

Last Updated: Monday, January 06, 2014, 15:14

Amid a slowing economy, gross direct tax collections rose 12.33 percent to Rs 4.81 lakh crore during the first nine months of this financial year.

Net direct tax collection up 13.7% till Dec 20 in FY'14

Last Updated: Saturday, December 21, 2013, 15:39

Amidst a slowdown in the economy, the net direct tax collection has risen by 13.7 percent to Rs 4.12 lakh crore till December 20 of current fiscal.