IT Dept announces mascot contest; Rs 1L cash prize

The Income Tax department has announced a mascot contest for the public that would carry a cash reward of Rs one lakh for the winning entry.

Taxpayers fail to keep pace with PAN card holders

Disconnect between PAN card holders and taxpayers in India is growing bigger by the day.

‘Taxpayers have right to know how money is spent’

As demands for
thorough scrutiny of spending of public funds grow, Vice
President Hamid Ansari said citizens have every right to
know how the tax-payers money is being spent by the government
to implement various programmes.

We want our money back: Obama to Wall St

US Prez Barack Obama proposed a tax on Wall Street`s biggest banks to recover more than 100 bn dollars.

Citi, US disagree over capital for TARP exit

Citigroup Inc and the US government disagree over how much the bank should raise to repay taxpayers and talks may not finish for weeks or even months, people briefed on the matter.

Govts must put taxpayers interest first: WEF

Governments should put
shareholders` interests ahead of political considerations when
they think of picking or selling equity stake in financial
institutions, the World Economic Forum has suggested.

Financial firms will pay for mistakes, not taxpayers: US

The US has unveiled new draft
regulatory measures which aim to ensure that stakeholders, not
tax payers would share the losses in case of big failure of
financial institutions.

French get list of 3000 tax suspects from Swiss: Report

France has received a list of 3,000 French taxpayers with bank accounts in Switzerland as part of a double taxation agreement signed between the two countries last week, according to a report in a French newspaper on Sunday.

Income tax Ombudsman will instil confidence in taxpayers

Till now the common tax payer was helpless against tax authorities, without any recourse against the discretionary powers of the tax authorities to search, raid and maintain the minimum level of decorum while doing so.