Google Tax

In a major policy shift, the Indian government has decided to scrap the 6% equalisation levy, popularly known as the Google Tax. What does this mean? Watch the video to find out.

Bengaluru, Hyderabad top the collections, Mumbai and Delhi together mop up a mere Rs 87 crore

There are other unanswered questions such as are foreign banks with users in India liable to pay the tax, called equalisation levy, for charges levied on online transactions?

From Maruti posting first quarterly loss in 17 years, VIral Acharya on larger role of foreign banks to govt approving new education policy, here are the top news of the day

It emphasised that the levy was applicable prospectively, and could not be said to have 'extra-territorial' application

IBM, US Chamber of Commerce oppose retaliatory tariffs

From govt calling off merger of three public general insurers to technology players in fray for railway signalling tender, here are top headlines of the day.

The yield declined 30 per cent after the first instalment deadline ended on Tuesday, compared to the same period last year, revealed preliminary collection figures

The development indicates that government has not heeded to calls for deferment of the tax by the industry

Move after evaluating the challenges faced by digital firms amid pandemic

The equalisation levy was introduced in June 2016, but not through an amendment in the Income Tax Act despite being a form of direct tax

CBDT wants to do survey and spot verifications for detecting non-compliance

After I-T tribunal ruling, global majors worried taxmen could invoke GAAR for using patents held abroad

Levy is aimed at firms which earn ad revenue in India but do not pay income tax in the country

Court cases likely over interpretation of the new levy proposed in the Budget for digital economy