Page 46 - Income Tax

I-T department approaches 5,627 entities to avail Vivad se Vishwas scheme

Of this, a total 1,730 assessees, involving a tax demand of Rs 1, 578 crore, have agreed to come under the scheme

Vivaad Se Vishwas scheme to help save time, money in fighting disputes: FM

As many as 4.83 lakh direct tax cases worth Rs 9.32 lakh crore are locked up in various appellate forums such as Commissioner (Appeals), ITAT, High Courts, Supreme Court and Debt Recovery Tribunals

Vivad se Vishwas scheme: 100% target or poor appraisal, taxmen told

Declarants will need to attach the application on withdrawing cases from the CIT (A), the IATA, High Court, or the Supreme Court, along with the Vivad se Vishwas form.

Pay taxes honestly to generate funds for development works: Prasad

"Only two crore people in a country with a population of 130 crore fall in the category of tax-paying professionals. Is this fair where people are prospering?" Prasad asked.

Reduce regulatory risk for growth

The recognition of this problem is a welcome development. Regulatory overreach and higher risk perceptions are a major concern, constraining business growth that need to be addressed.

Make an evidence-based choice between the old and new income tax regimes

Those who can cross certain thresholds of deduction will be better off sticking to the old regime

When concession is a penalty

The new optional tax regime is likely to become the only one available in a few years. This will affect real estate

Taxing digital economy

Analysts are increasing their understanding of it

Vivad se Vishwas scheme: Revised tax Bill addresses fears over tax on loss

The revised Bill makes the scheme attractive by expanding its scope to cover litigation pending in arbitration forums and debt recovery tribunals (DRTs)

Budget 2020 was disappointing for lacking vision, says Ashima Goyal

However, the finance minister has achieved a "balancing act" through her moves, Goyal said

Why the new optional tax regime could adversely affect dwindling savings

Commenting on the proposal, eminent economist and former Union Minister Yoginder Alagh said, "it (proposal) will definitely reduce savings incentives".

Withdraw income tax on overseas tours, travel agents petition PM Modi

The government introduced five per cent TCS on overseas tour packages with an aim to plug revenue leakag

I-T Dept to help Sebi in market manipulation probe, share taxpayers' PAN

The sharing of information will be under three broad heads: request-based exchange of data, suo moto and automatic.

Govt wants continuous engagement with businesses, industries: FM Sitharaman

She said the Centre has introduced some features in the budget like "faceless appeals and sorting out of problems while imparting tax administration"

India's insurance is one of Asia's better long-term stories: Chris Wood

In September 2019, he had bought SBI Life Insurance and HDFC Life Insurance, which now account for 5 per cent and 4 per cent weight in the above-mentioned portfolio

TDS on e-commerce deals to hurt SMEs' working capital: Amazon's Agarwal

Agarwal was talking about the Budget proposal to introduce a new section in the Income Tax Act

Govt should consider exempting expatriates from Rs 7.5 lakh limit: Expert

Expatriates invest a high amount to comply with PF regulations. The government should consider exempting them from the Rs 7.5 lakh limit

Letter to BS: Ease of paying tax is important for living, doing business

Nobel prize-winning economist Richard Thaler would approve - if you want people to do something, make it easy, he said

Confident of meeting Rs 11.7-trn direct tax collection target in FY20: CBDT

Income tax collection target for next fiscal is pegged at Rs 6.38 trillion and corporate tax collection at Rs 6.81 trillion

Middle Class 'trained enough' to pick right Income Tax option: Rajiv Kumar

Rajiv Kumar was commenting on the Budget proposal of FM Sitharaman to give the option to personal income taxpayers to remain in the existing tax scheme or opt for a new simplified tax regime.