Revenue Secretary

New limit for reporting gold transactions soon: Govt

The government had on Friday reversed its August order of bringing gems and jewellery dealers under the purview of the reporting requirement of the Prevention of Money Laundering Act (PMLA).

Oct 08, 2017, 12:28 PM IST
Government exceeds 2016-17 tax target, highest in last 6 years

Government exceeds 2016-17 tax target, highest in last 6 years

The central government on Tuesday reported a total tax collection of Rs 17.10 lakh crore during 2016-17 -- an increase of 18 per cent over 2015-16.

Apr 04, 2017, 18:35 PM IST
Education, healthcare to be out of GST

Education, healthcare to be out of GST

Education, healthcare and pilgrimages will continue to be out of service tax net even under the GST?regime as the Centre is against giving any shock in the first year of the rollout by bringing in new services.

Apr 02, 2017, 13:02 PM IST
I-T dept to levy 100% penalty even for receiving cash over Rs 3 lakh: Hansmukh Adhia

I-T dept to levy 100% penalty even for receiving cash over Rs 3 lakh: Hansmukh Adhia

In a bid to check generation of black money, a steep penalty awaits those accepting cash in excess of Rs 3 lakh, beginning April 1, to settle any transaction.

Feb 05, 2017, 12:01 PM IST
Personal I-T base must be up before corporate tax cut: Hasmukh Adhia

Personal I-T base must be up before corporate tax cut: Hasmukh Adhia

Two years after it announced plans to reduce corporate tax rate to 25 percent, the government on Saturday said any such reduction can come after the spread of personal income tax is increased and more people pay taxes.

Feb 04, 2017, 16:02 PM IST
File returns by December or lose tax exemptions: Govt to political parties

File returns by December or lose tax exemptions: Govt to political parties

Donations to political parties via electoral bonds will be confidential, donor's identity not to be disclosed, Adhia said.

Feb 02, 2017, 13:13 PM IST
I-T department all set to question 18 lakh dubious bank depositors starting tomorrow

I-T department all set to question 18 lakh dubious bank depositors starting tomorrow

 Demonetisation of old notes of Rs 500, and Rs 1,000 has brought in around 18 lakh people under the scanner of the income tax department, who will begin receiving emails and SMSs from the Income Tax department starting Wednesday.

Jan 31, 2017, 15:55 PM IST
Auto industry meets Revenue Secretary Hasmukh Adhia; cess, luxury car definition in focus

Auto industry meets Revenue Secretary Hasmukh Adhia; cess, luxury car definition in focus

The auto industry today discussed with Revenue Secretary Hasmukh Adhia, the rate of cess and definition of luxury cars under the GST regime, which is likely to kick in from April next.

Nov 07, 2016, 15:01 PM IST
Rs 43,000 crore undisclosed income unearthed in 2 years, says govt

Rs 43,000 crore undisclosed income unearthed in 2 years, says govt

The Income Tax Department has unearthed undisclosed income of Rs 43,000 crore in the last two fiscals, Union Revenue Secretary Hasmukh Adhia said on Friday.

Jul 02, 2016, 00:17 AM IST

Govt checking if any blackmoney returned to India: Revenue Secy

In the wake of deposits held by Indians in Swiss banks dropping by 33 percent, Revenue Secretary Hasmukh Adhia on Friday said the government is checking if any of the blackmoney has been routed back to India.

Jul 01, 2016, 18:34 PM IST
No target of 10 crore tax base: Government

No target of 10 crore tax base: Government

In the wake of confusion over whether Prime Minister Narendra Modi had set a target of doubling the income tax base to 10 crore, government on Saturday came out with a statement correcting an earlier press release and saying no specific target has been prescribed.

Jun 18, 2016, 18:11 PM IST
Scope for expansion of tax base: Hasmukh Adhia

Scope for expansion of tax base: Hasmukh Adhia

A day after Prime Minister Narendra Modi spoke about near-doubling of taxpayer base to 10 crore, Revenue Secretary Hasmukh Adhia on Friday sought to contextualise the statement saying he was talking about "scope for expansion" and getting to that mark is "impossible".

Jun 17, 2016, 22:12 PM IST
Sebi seeks service tax exemption with retrospective effect

Sebi seeks service tax exemption with retrospective effect

 After securing exemption from service tax this fiscal onwards, capital markets regulator Sebi has asked the government to exempt it from this liability with retrospective effect from July, 2012.

Jun 12, 2016, 14:55 PM IST
Direct tax collection picks up 18% to Rs 43,391 crore in Apr-May

Direct tax collection picks up 18% to Rs 43,391 crore in Apr-May

What comes out as a good news for the economy, a jump of 18 percent to Rs 43,391 crore was registered in net direct tax collections during the first two months of the current fiscal, the government said on Friday.

Jun 10, 2016, 18:55 PM IST
Wrap up probes early, improve conviction rate: Hasmukh Adhia to Enforcement Directorate

Wrap up probes early, improve conviction rate: Hasmukh Adhia to Enforcement Directorate

Concerned over "very poor" conviction rate in money-laundering cases, Revenue Secretary Hasmukh Adhia today asked the Enforcement Directorate (ED) to step up and complete probes as early as possible.

Apr 30, 2016, 18:10 PM IST
Panama papers expose: Govt kicks off probe, 5-member team to meet on April 7

Panama papers expose: Govt kicks off probe, 5-member team to meet on April 7

A five-member government team will meet on April 7 over monitoring and investigation into the cases of 500 Indians being named in the leaked 'Panama Papers'.

Apr 05, 2016, 18:32 PM IST
PoEM postponed for convenience of accounting: Adhia

PoEM postponed for convenience of accounting: Adhia

The rules for determining place of effective management of a company have been deferred till April 2017 so as to give corporates sufficient time to prepare accounts according to their place of residency under the new norms, Finance Ministry said today.

Mar 03, 2016, 14:06 PM IST
Import duty hiked on ghee, butter, butter oil

Import duty hiked on ghee, butter, butter oil

The government on Monday raised the import duty on three related products - ghee, butter and butter oil - from 30 to 40 percent with immediate effect, owing to a steep fall in global prices.

Oct 05, 2015, 15:17 PM IST
Tax collection to fall short of target: Finance Ministry

Tax collection to fall short of target: Finance Ministry

Finance Ministry shared concerns that revenue collection will fall short by Rs 50,000 crore, but sounded optimistic in meeting fiscal deficit target for 2015-16.

Oct 05, 2015, 14:39 PM IST
Black money: Govt revises disclosure to Rs 4,147 crore from earlier Rs 3,770 crore

Black money: Govt revises disclosure to Rs 4,147 crore from earlier Rs 3,770 crore

He said under the Foreign Account Tax Compliance Act (FATCA), signed with the US, India has already started getting information. "Wealth of information has come from US," he said.

Oct 05, 2015, 12:58 PM IST