Taxpayer

The Central Board of Indirect Taxes and Customs (CBIC) has said that when a registered taxpayer shifts or transfers its principal place of business from one tax jurisdiction to another, the new jurisdictional authority will take over and handle all pending proceedings related to the taxpayer. Any action or proceeding like investigation, audit, show cause notice, adjudication under the Central GST law undertaken by the tax officer having jurisdiction over the registered taxpayer on the date such action was undertaken (transferor jurisdictional authority), would remain valid even if the taxpayer subsequently shifts to another tax jurisdiction (transferee jurisdictional authority). "The transferee jurisdictional authority shall act upon, give effect to, and proceed on the basis of such earlier valid action taken by the transferor jurisdictional authority, as if it had itself initiated the same," the CBIC said in a circular. The indirect tax board said that it had received references fr

A taxpayer's residential status depends on the number of days they spend in India in a financial year

Finance Minister Nirmala Sitharaman on Friday said GST officers should be polite and empathetic in dealing with honest taxpayers and asked them to use technology for faster registration approvals and grievance redressal. She also asked field formations to "proactively" undertake trade facilitation measures. "There is no iron wall between you and trader, there is thin air. You can understand where the difficulty is, rather than muddy it up any further," she said. Speaking at the inauguration of the CGST building in Ghaziabad, the minister flagged the need for timely conclusion of any disciplinary proceedings against officers of Central Board of Indirect Taxes and Customs (CBIC). This would send a clear message from the CBIC board that any misconduct, dereliction of duty or unethical behaviour by officers will not be tolerated. She said the ultimate goal of tax administration is to make life easy for honest taxpayers and to do that GST officers should follow the laid down SoP and sho

Your ITR isn't just about salary. From small dividends to foreign holding, ESOPs and even low-balance accounts need disclosure or you risk heavy penalties.

Substantial cash gifts should be received via cheques or drafts

Amitabh Bachchan paid ₹120 crore in taxes on earnings of ₹350 crore from feature films, brand endorsements, and television appearances, most notably 'Kaun Banega Crorepati'

For investment and growth to take off, taxes need to be reliable, uniform and predictable

'Captain Cool' MS Dhoni, now retired from international cricket and seen only in the IPL, was the second-highest taxpayer among cricketers

If AO doesn't respond within 21 days, CPC may release refund, or adjust it partially based on taxpayer's consent

Budget 2023 has maintained the status quo on tax policies with more thrust on certainty, which is a step in the right direction

Directive issued for maximising revenue collection and monitoring advance tax mop up

Defenders of preferential tax treatment argue that capital gains tax is a form of "double taxation" as corporate profits are taxed as ordinary income

Respond on time, with expert help if required, to prevent further punitive measures

Of the 1.3 million active patients in India, around 890,000 have given consent to be up for adoption

There are several transactions that one needs to mention mandatorily in the ITR 2021-22 (AY 2022-23). It is necessary to avoid a notice from the I-T department

The new SOP will make officials more accountable and will also make the entire process transparent

The government has tightened GST norms. But some of the changes have caused "inconvenience" to taxpayers, to say the least.

The tax department's initiatives would, in the normal course, have been welcomed by honest taxpayers, but implementation issues and the taxman's misaligned views are causing problems

CBDT has extended the due dates for electronic filing of various forms under the Income-tax Act, 1961 considering the difficulties reported by the taxpayers and other stakeholders

Prime Minister Narendra Modi on February 25 made a strong case for privatisation of public sector undertakings that he said burdened the taxpayer, and stressed that the government has “no business to be in business”. He said his regime has set a target to monetise 100 PSUs in oil, gas, airports, ports, power, among other areas, which will draw Rs 2.5 trillion of investment. Watch the video for PM Modi’s full speech.