Automatic Tax

Delhi High Court has imposed total costs of Rs 2 lakh on two restaurant bodies for failing to comply with an order passed in relation to their challenge to the guidelines prohibiting hotels and restaurants from automatically levying service charge.

The Delhi High Court on Wednesday stayed the recent guidelines prohibiting hotels and restaurants from levying service charge automatically on food bills.

Ankur Bhatia, Managing Director, Amadeus, Indian Subcontinent believes "the government should actively consider addressing the two concerns the aviation industry is currently grappling with. First, a hike in foreign direct investment is highly warranted. Other sectors have been allowed to have FDI via automatic route. Considering the fact aviation ...

India has got first chunk of Swiss bank account details of its nationals under a new automatic information exchange pact, a major milestone in the government's fight against black money stashed abroad.

PAN Aadhaar news: The Income Tax Department said last month that a PAN will be generated automatically if a person files the ITR is filed using Aadhaar. Current income tax laws allow an individual to furnish Aadhaar interchangeably with PAN. That means instead of the 10-character PAN, a 12-digit Aadhaar number or Unique Identity Number can be quote...

A Permanent Account Number or PAN will be generated automatically if an individual files the income tax return by quoting an Aadhaar number, the Central Board of Direct Taxes said in a notification on Monday. PAN is a 10-digit alphanumeric number issued by the I-T department to individuals and entities for filing tax returns. While presenting the B...

Banking details of Indians with accounts in Switzerland will be available to tax authorities from Sunday as the automatic exchange of information regime kicks off between the two countries.

In a move aimed at combating black money stashed abroad, India signed an agreement with Switzerland on Thursday that would allow automatic exchange of tax-related information from January 1 2018, the Central Board of Direct Taxes said.

FATCA or Foreign Account Tax Compliance Act allows automatic exchange of financial information between India and the US.

India and Switzerland today discussed issues relating to transparency in financial transactions and agreed on early operationalisation of the automatic exchange of information on tax between the two countries in a bid to check black money.

The tax relief for sick companies approved by Board for Industrial and Financial Reconstruction (BIFR) under Sick Industrial Companies Act, 1985 will not automatically apply as the SICA has been repealed with effect from December 1, 2016, the tax department has said.

If you eat out and are not happy with the service, you can refuse to pay the service fee that's automatically tacked on to your bill by many restaurants.

BRICS nations, including India, today pledged to share tax information automatically and adopt global standards on tax transparency to check cross border tax evasion.

Moving ahead on automatic sharing of details on suspected black money, Switzerland today initiated its statutory consultation process for bringing into force Automatic Exchange of Information (AEOI) on tax matters with India and some other countries from January 1, 2018.

The government's new proposal on how to tax black or undeclared money was cleared today by the Lok Sabha, where the government is in a majority. The bill must now be approved by the Rajya Sabha within 14 days. If not, it automatically becomes the law. The legislation has been introduced as the next step in the huge initiative launched earlier this ...

Delhi High Court has imposed total costs of Rs 2 lakh on two restaurant bodies for failing to comply with an order passed in relation to their challenge to the guidelines prohibiting hotels and restaurants from automatically levying service charge.

The Delhi High Court on Wednesday stayed the recent guidelines prohibiting hotels and restaurants from levying service charge automatically on food bills.

Ankur Bhatia, Managing Director, Amadeus, Indian Subcontinent believes "the government should actively consider addressing the two concerns the aviation industry is currently grappling with. First, a hike in foreign direct investment is highly warranted. Other sectors have been allowed to have FDI via automatic route. Considering the fact aviation ...

India has got first chunk of Swiss bank account details of its nationals under a new automatic information exchange pact, a major milestone in the government's fight against black money stashed abroad.

PAN Aadhaar news: The Income Tax Department said last month that a PAN will be generated automatically if a person files the ITR is filed using Aadhaar. Current income tax laws allow an individual to furnish Aadhaar interchangeably with PAN. That means instead of the 10-character PAN, a 12-digit Aadhaar number or Unique Identity Number can be quote...

A Permanent Account Number or PAN will be generated automatically if an individual files the income tax return by quoting an Aadhaar number, the Central Board of Direct Taxes said in a notification on Monday. PAN is a 10-digit alphanumeric number issued by the I-T department to individuals and entities for filing tax returns. While presenting the B...

Banking details of Indians with accounts in Switzerland will be available to tax authorities from Sunday as the automatic exchange of information regime kicks off between the two countries.

In a move aimed at combating black money stashed abroad, India signed an agreement with Switzerland on Thursday that would allow automatic exchange of tax-related information from January 1 2018, the Central Board of Direct Taxes said.

FATCA or Foreign Account Tax Compliance Act allows automatic exchange of financial information between India and the US.

India and Switzerland today discussed issues relating to transparency in financial transactions and agreed on early operationalisation of the automatic exchange of information on tax between the two countries in a bid to check black money.

The tax relief for sick companies approved by Board for Industrial and Financial Reconstruction (BIFR) under Sick Industrial Companies Act, 1985 will not automatically apply as the SICA has been repealed with effect from December 1, 2016, the tax department has said.

If you eat out and are not happy with the service, you can refuse to pay the service fee that's automatically tacked on to your bill by many restaurants.

BRICS nations, including India, today pledged to share tax information automatically and adopt global standards on tax transparency to check cross border tax evasion.

Moving ahead on automatic sharing of details on suspected black money, Switzerland today initiated its statutory consultation process for bringing into force Automatic Exchange of Information (AEOI) on tax matters with India and some other countries from January 1, 2018.

The government's new proposal on how to tax black or undeclared money was cleared today by the Lok Sabha, where the government is in a majority. The bill must now be approved by the Rajya Sabha within 14 days. If not, it automatically becomes the law. The legislation has been introduced as the next step in the huge initiative launched earlier this ...