The Finance Ministry said it has uncovered around Rs 44 crore of untaxed money parked by 18 Indian nationals with LGT Bank in the European tax haven of Liechtenstein and have raised a tax demand of Rs 24 crore.
British economist Nicholas Stern
says a UN economic panel is discussing carbon taxes, add-ons
to international air fares and a levy on cross-border money
transfers as ways to raise USD 100 billion a year.
Terming the proposed GST as "anti-democratic, anti-poor and
anti-farmer," Madhya Pradesh finance minister Raghavji today
said the new indirect tax regime is aimed at divesting the
states of their financial freedom.
Good news for the middle class. The government would stick to the lower tax slabs proposed in the original draft of the Direct Tax Code, letting the salaried class spend and save more, a newspaper said Friday.
In a sigh of relief to the salaried class, the government has dropped the contentious proposal to tax provident and pension funds withdrawls and decided to continue with the major tax incentive on housing loans.
In the eye of a storm after
taxmen visited the office of Gameplan Sports Private Limited,
once connected with Kolkata Knight Riders, its Managing
Director Jeet Banerjee today said it was not a raid but a
After a notice to owners of
Kings XI Punjab on payment of service tax, the central excise
department here has asked its five players, including Yuvraj
Singh, to furnish details of the payment received from the IPL
The Centre has ordered parallel probes by virtually all its economic intelligence units into the sources and use of funds by franchisees of the IPL. Meanwhile, it might be the end of road for Lalit Modi as the BCCI may strip him off his post of the IPL Commissioner.
Income tax authorities have
asked the Board for Control of Cricket in India (BCCI) to
respond by Friday, April 23, to 10 queries, including the one
on income from controversy-hit IPL and its structure.
Property tax arrears running into
crores were pending with key agencies like DDA, DJB, CPWD and
Airport Authority of India and the MCD should take steps to
recover the amount, a ruling BJP councillor said today.
The Convenor of the Joint Action
Committee spearheading the agitation for Telangana warned the outfit might resort to non-cooperation movement if
the Centre failed to meet its Jan 28 deadline for declaring a separate state.