Page 5 - Revenue Department

Centre moots ruling authority to fix direct tax liability, settle disputes

Revenue dept to take up measures to boost tax-to-GDP ratio to 15-20%

Revenue spend may be cut to limit slippage: Finance secretary TV Somanathan

To compensate for impact of over Rs 1.5 trn on account of measures announced to rein in inflation, including cut in fuel prices and Customs duty exemption: Somanathan

'Illegal' property worth Rs 21 cr belonging to UP ex-MLC's aide attached

A joint team of police and revenue department on Sunday attached alleged illegal property worth Rs 21 crore registered in the name of former MLC Haji Iqbal's aide. The property was registered in the name of Naseem and it was attached under the provisions of the Gangster Act, police said. Iqbal was a Bahujan Samaj Party MLC from 2010 to 2016. Iqbal, who headed the gang, was indulged in smuggling wood, illegal mining, threatening people and using fraudulent means to purchase government and non-government land, and registering them in the names of his aides, family members, relatives and even servants, Senior Superintendent of Police Akash Tomar told PTI. He had amassed money from criminal activities and purchased a number of properties in Behat area of Saharanpur, the SSP said. In another case, property worth Rs 4 crore in Barabanki district, belonging to drug smuggler Mohammad Saheem alias Kasim, too, was attached on Sunday, Additional Superintendent of Police, Barabanki, Manoj Kum

Maharashtra's revenue from property registrations to hit all-time high

Within the first 11 months of FY22, the state has earned Rs 5,671 crore from property registrations, which is 63 per cent higher than Rs 3,474 crore in FY21

Tax laws made complicated by exemptions, need to be simplified: Tarun Bajaj

Revenue Secy says govt wanted a stable and predictable tax regime, so very little tinkering was done in the Union Budget

Top headlines: 'OMCs' margins to improve'; 1st phase of UP polls tomorrow

Here are the top headlines on Wednesday

Revenue Secretary Tarun Bajaj on revenue estimates, capital gains etc

Business Standard's Arup Roychoudhury and Asit Ranjan Mishra spoke to Revenue Secretary Tarun Bajaj to know about revenue estimates and recent taxes levied on cryptocurrencies. Let's listen in

'Sec 135AA aimed at hackers of commercially sensitive trade-related data'

'By selling commercially sensitive information, the hackers adversely impact the competitive position of Indian exporters in international trade,' says Revenue Secretary

Govt wants private companies to set up new manufacturing units fast

The government wants new domestic companies to set up their manufacturing units in India fast and hence the concessional tax rate of 15 per cent has been extended by a year till March 2024

'Allowing ITR updation for 2 yrs by paying extra tax not an amnesty scheme'

The two-year window provided to taxpayers to disclose omitted income and correct mistakes made in income tax returns, is not an amnesty scheme, Revenue Secretary Tarun Bajaj said on Wednesday

Centre releases Rs 9,871-crore revenue deficit grant to 17 states

The Central government on Thursday released Rs 9,871 crore as revenue deficit grant to 17 states including Andhra Pradesh, Kerala, Rajasthan, Punjab and West Bengal.

Shortfalls, again

Union Budget must stop relying on disinvestment proceeds

From scrapping retro tax law to record GST mop-up: 2021 for revenue dept

A record GST tax collection, an overhaul of the income tax return filing portal and the landmark move to scrap retrospective taxation have set the stage for the next level of reforms in tax admin

Net direct tax revenue rises 68% to Rs 6.92 trillion till Nov 23

The net collection between April 1 - November 23 in 2020-21 and 2019-20 fiscals was over Rs 4.12 trillion and over Rs 5.44 trillion respectively

FinMin releases Rs 9,871 crore to 17 states as revenue deficit grant

The Finance Ministry on Thursday said it has released the sixth monthly instalment of revenue deficit grant of Rs 9,871 crore to 17 states.

No anti-dumping duty on fibre board from 4 countries: Revenue dept

The government has decided not to impose anti-dumping duty on imports of a certain type of fibre board, used to make furniture and cabinets, from Vietnam, Malaysia, Thailand, and Indonesia

CAG pulls up Kerala govt over arrears in revenue, calls for intervention

The cash strapped Kerala government has revenue arrears to the tune of Rs 20,146.39 crore of which Rs 5,765.84 crore is outstanding for more than 5 years

Centre releases revenue deficit grant of Rs 9,871 crore to 17 states

This is the third monthly instalment of the grant

Telangana CM instructs probe into fresh complaint against Etela Rajender

Telangana Chief Minister K Chandrashekhar Rao has instructed a comprehensive as another complaint was received against former minister Etela Rajender in land grabbing issue, said an official release

RBI's higher payout to help govt tide over revenue losses: Analysts

After the RBI surprised the Centre with a record Rs 99,122 crore in surplus transfer for FY21, analysts said this will help the government tide over the revenue losses from lockdowns