Service Tax Dept to focus on 5 evasion prone sectors

"With a view to improve collection, the Service Tax department has prepared sector specific profile of five sectors which are prone to evasion," a senior official told PTI.

Govt may soon come out with circular on relief to FIIs on MAT

The Revenue Department may soon come out with a circular on providing relief to FIIs from the minimum alternate tax (MAT) with retrospective effect.

Revenue Dept probing entities over penny stock misuse: Das
Revenue Dept probing entities over penny stock misuse: Das

A day after Sebi clampdown on 59 entities misusing stock market for evading taxes, the government today said the investigation wing of the Revenue Department is probing companies which use the penny stock route for tax evasion.

India, US resolve 35 transfer pricing disputes in IT sector

The Revenue Department Thursday said 35 transfer pricing disputes between India and the US in different segments of Information Technology (IT) have been resolved and another 100 are likely to be settled in the next three months.

'Place of Supply' rules for e-commerce under GST on anvil

As part of GST roll out, the Revenue Department will prepare 'Place of Supply' rules that will comprehensively cover taxation of e-commerce, an official said.

Data on caste certificates to be available online

In order to curb use of forged caste certificates, the Aam Aadmi Party government has decided to make data of such documents available online by next week.

Priyanka Vadra's Shimla land-deal information wrongly withhled?

The details of how Priyanka Gandhi Vadra bought land near Shimla must be revealed within 10 days, the top most officers of the Information Commission of Himachal Pradesh have ruled today.

SIC directs government to give info on Priyanka Gandhi Vadra’s land within ten days

The details of how Priyanka Gandhi Vadra bought land near Shimla must be revealed within 10 days, the top most officers of the Information Commission of Himachal Pradesh have ruled today.

Registration of properties in unauthorises colonies allowed

In a major relief to lakhs of people living in unauthorised colonies, Delhi government on Tuesday decided to allow registration of properties in the settlements regularised by the Centre, heeding to a long-standing demand of the residents.

CBDT makes public names of 18 tax defaulters who owe Rs 500 crore

Adopting an aggressive approach to increase tax collection, the revenue department for the first time publically named 18 tax defaulters - including Goldsukh Trade and Somani Cements - who owe over Rs 500 crore to the exchequer.

Rs 8,900 cr in taxes pending against LIC, SBI, BSNL: Panel

Pulling up Revenue Department for its "inefficiency" in tax recovery, a Parliamentary panel has said that nearly Rs 8,900 crore is pending against just three public sector companies, LIC, SBI and BSNL.

PMO asks tax dept to find more ways to bring back black money

Aiming to intensify government's drive on black money, the PMO has asked the revenue department to look for ways other than bilateral tax treaties to bring back funds stashed abroad.

Delhi govt gets newlyweds to take vow against female foeticide

As newlyweds Tarun and Swati got their marriage registered, they took another vow to complement the ones that solemnised their union, one which made them promise that they "shall not indulge in female foeticide".

FM bars tax officials using political influence for postings

In a stern warning against use of political recommendations for postings of choice, Finance Minister Arun Jaitley has asked tax officials to desist from such practices or else face disciplinary action.

TDS due date extended till Mar 31 for govt deductors

The Revenue Department has extended the due date of filing TDS and TCS for 2012-13 and 2013-14 till March 31 in case of government deductors.

IPL cases against Lalit Modi to be finalised soon

Investigating agencies will soon finalise cases of alleged financial irregularities against former IPL Chairman Lalit Modi in various editions of T20 cricket tournament, notwithstanding their failure to get him back to India.

Circular soon for levying excise on goods sold below cost

The Finance Ministry Tuesday said it will come out with a circular by January 15 to implement a Supreme Court decision regarding valuation of goods sold below the cost price for levying excise duty.

Will aggressively defend against tax demand: IBM

US-based technology major IBM is contesting a claim of the revenue department which has increased the company's taxable income substantially to around Rs 11,000 crore.

India slaps $9/kg anti-dumping duty on a bulk drug from EU

The Revenue Department has imposed the duty - a levy to discourage cheap imports - on bulk drug Cefadroxil Monohydrate originating in or exported from the EU for five years.

Kitty Steels MD arrested, fined Rs 10,000 for IT Act violation

The Revenue Department on Friday said the Managing Director of Hyderabad-based Kitty Steels Ltd has been fined Rs 10,000 along with three months of imprisonment for violation of income tax laws.