Page 5 - Direct Tax

Cross-border tax disputes: ITAT orders to overrule MAP outcomes, says CBDT

Direct tax board issues detailed guidance on mutual agreement procedure, or MAP

Covid-19 impact: Direct tax refunds down 16% to Rs 64,428 crore in Q1

Corporation tax refunds stood at Rs 40,482 crore, while income tax refunds stood at Rs 23,828 crore in Q1FY21.

NTPC Q4 net profit declines 70% to Rs 1,523 cr on higher tax provision

Total income was Rs 31,315.32 crore in the period under review, compared to Rs 26,116.15 crore in the year-ago period

The problem of tax buoyancy

The Union government's tax buoyancy has never been very high

Contrary to govt's claims, direct tax refunds down 67% till May 21

Expediting refunds of up to Rs 5 lakh was announced as part of the government's policy initiative to fight the economic impact of Covid

Govt notifies Vivad se Vishwas forms and rules; deadline extension expected

The income tax department notified a 5-stage process of making declaration under the Scheme, with as many as five forms released

Rationalise GST now

Counteract coronavirus supply shock with tax reform

Vivaad Se vishwas Bill to settle tax disputes passes LS test amidst din

Opposition has been protesting over the issue of Delhi violence and demanding an immediate discussion

Cabinet nod to changes in Vivad se Vishwas Bill to reduce tax litigations

The minister hoped that people will take advantage of the scheme to settle the tax disputes before March 31, 2020

FM talks 'Vivad Se Vishwas' scheme with industry representatives

With over Rs 9 trillion worth direct taxes locked up in litigation, the government last week introduced 'Direct Tax Vivad se Vishwas Bill, 2020' in the Lok Sabha

Vivad se Vishwas: CBDT to collect data on direct tax cases in high courts

The CBDT has asked the regional Income Tax Department chiefs to "personally monitor" the exercise

New tax slabs proposed in Budget to benefit taxpayers: CBDT chairman

The set target for revenue collection (personal income tax, corporate tax and others) was Rs 13.35 trillion for the 2019-20 financial year that ends on March 31

Budget 2020: 'Vivad se Vishwas' scheme to cut down direct tax litigation

Under the proposed scheme, a taxpayer would be required to pay only the amount of the disputed taxes and will get complete waiver of interest and penalty provided he pays by March 31, 2020.

Top 10 biz headlines: Direct tax immunity likely in Budget, farm write-offs

From final touches to takeover norms for unlisted firms to Vistara junks premium class on low income routes, Business Standard brings you the top business headlines of the day

Slowdown blues: Direct tax mop-up growth slumps to 3.5% till mid-October

A combination of factors is responsible. This includes a deepening of the general economic slowdown and corporation tax cuts

Top 10 biz headlines: Slabs for direct tax, BSNL asset sale, and more

From Direct tax code panel seeking 4 slabs to RBI rejecting Sebi's plan for rating agencies, here are the top business headlines on Tuesday

Govt reworking strategy to enhance direct tax mop-up: CBDT member

CBDT member Akhilesh Ranjan, who headed a panel on the new direct tax law, said corporation tax rate in India is somewhat higher - compared to international standards - and must be reduced

Direct Tax Code may help bring change in mindset of taxpayers, authorities

The Direct Tax Code may help initiate the much-needed change in the mindset of taxpayers and authorities, say experts

Enhanced limits to reduce pending direct tax litigation in one stroke

The CBDT circular has come at an appropriate time. It will provide much needed respite to business entities and taxpayers

Direct tax collection sees dismal growth; mid-August mop-up growth under 5%

The collections had shot up that year because people regularised their unaccounted income by paying higher levies