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New Income Tax Bill Won't Breach Taxpayers' Online Privacy: Report
The new Income Tax Bill prescribes the existing process for tax authorities to gain access to the digital space or a computer device only during search and survey operations, a top official said.
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Shah Rukh Khan Wins Tax Case As Tribunal Rules In His Favour
Actor Shah Rukh Khan has secured a big victory with the Income Tax authorities, with the Income Tax Appellate Tribunal or ITAT delivering a verdict in his favour.
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Volkswagen Sues Indian Authorities Over $1.4 Billion Tax Dispute: Report
The Indian government had issued a tax evasion notice to Volkswagen Group in September 2024 for implementation of a strategy to pay lower import duty.
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French Investigators Open Fraud Probe Against Crypto Platform Binance
French authorities have launched a judicial investigation into Binance for money laundering, tax fraud, and other charges. Binance, the world's largest cryptocurrency exchange, denies the allegations. The Paris public prosecutor's office's economic and financial crime section (JUNALCO) stated the probe involves money laundering related to drug traf...
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Supreme Court Stays GST Notices Worth Over Rs 1 Lakh Crore Against Gaming Firms
The Supreme Court on Friday stayed showcause notices issued by GST authorities worth over Rs 1 lakh crore to online gaming companies and casinos over alleged tax evasion.
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Panipuri Vendor Gets GST Notice After Earning Rs 40 Lakh, Internet Divided
A pani puri vendor from Tamil Nadu has come under the Goods and Services Tax (GST) authorities' scanner after reportedly receiving online payments amounting to Rs 40 lakh during the 2023-24 financial year.
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India Must Impose More Tax On Its Super-Rich People: French Economist
India should do more to tax its super-rich given its high levels of inequality, French economist and author Thomas Piketty said on Friday.
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Explained: How Volkswagen Group Allegedly Evaded Billions In Taxes In India
The Volkswagen Group, which include the brands Volkswagen, Audi, Skoda, Porche, and Lamborghini has been accused by Indian authorities of evading $1.4 billion (Rs 118.6 billion) in taxes, which is roughly Rs 11,865 crore.
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Crypto Taxes Generated $78 Million in Kenya, Authorities Target Over $460 Million
Between 2023 and 2024, the Kenya Revenue Authority collected taxes from 384 digital asset dealers. Over the next five years, the KRA aims to raise KES 60 billion (roughly $464 million) from participants in Kenya’s Web3 ecosystem.
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Japan’s Financial Regulator May Cut Crypto Tax, Encourage Investors to Engage with VDAs
In Japan, crypto-generated earnings are currently taxed between 15 and 55 percent. However, authorities are considering reducing this tax rate to a flat 30 percent for corporate investors and 20 percent for individual investors in FY 2025.
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LIC Gets GST Demand Notice Of Rs 605.58 Crore
Life Insurance Corporation of India (LIC) on Thursday said tax authorities have slapped a demand notice of about Rs 605.58 crore on it for short payment of Goods and Services Tax (GST) for financial year 2019-20.
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SBI Life Gets GST Demand Notice Of Rs 239 Crore
SBI Life on Thursday said tax authorities have slapped a demand notice of about Rs 239.27 crore on it for short payment of Goods and Services Tax (GST) for the financial year 2019-20.
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Top Tax Authority CBDT Forms Panel To Review Income Tax Law
An internal committee of the Income Tax Department will review the 1961 direct tax law to eliminate redundant clauses as well as adopt best global practices to simplify it for taxpayers for better compliance, CBDT chief Ravi Agrawal has said.
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Finance Ministry Exempts Aadhaar Body UIDAI From Payment Of Income Tax
The finance ministry has exempted the income of Unique Identification Authority of India (UIDAI) from payment of income tax for five years till fiscal 2027-28.
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Israel Seizes $26 Million Of Palestinian Tax Funds To "Combat Terrorism"
Israel's far-right Finance Minister Bezalel Smotrich has ordered the seizure of 100 million shekels ($26 million) of tax funds intended for the Palestinian Authority, saying it would be used to pay for Israeli victims of terrorism.
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New Income Tax Bill Won't Breach Taxpayers' Online Privacy: Report
The new Income Tax Bill prescribes the existing process for tax authorities to gain access to the digital space or a computer device only during search and survey operations, a top official said.
-
Shah Rukh Khan Wins Tax Case As Tribunal Rules In His Favour
Actor Shah Rukh Khan has secured a big victory with the Income Tax authorities, with the Income Tax Appellate Tribunal or ITAT delivering a verdict in his favour.
-
Volkswagen Sues Indian Authorities Over $1.4 Billion Tax Dispute: Report
The Indian government had issued a tax evasion notice to Volkswagen Group in September 2024 for implementation of a strategy to pay lower import duty.
-
French Investigators Open Fraud Probe Against Crypto Platform Binance
French authorities have launched a judicial investigation into Binance for money laundering, tax fraud, and other charges. Binance, the world's largest cryptocurrency exchange, denies the allegations. The Paris public prosecutor's office's economic and financial crime section (JUNALCO) stated the probe involves money laundering related to drug traf...
-
Supreme Court Stays GST Notices Worth Over Rs 1 Lakh Crore Against Gaming Firms
The Supreme Court on Friday stayed showcause notices issued by GST authorities worth over Rs 1 lakh crore to online gaming companies and casinos over alleged tax evasion.
-
Panipuri Vendor Gets GST Notice After Earning Rs 40 Lakh, Internet Divided
A pani puri vendor from Tamil Nadu has come under the Goods and Services Tax (GST) authorities' scanner after reportedly receiving online payments amounting to Rs 40 lakh during the 2023-24 financial year.
-
India Must Impose More Tax On Its Super-Rich People: French Economist
India should do more to tax its super-rich given its high levels of inequality, French economist and author Thomas Piketty said on Friday.
-
Explained: How Volkswagen Group Allegedly Evaded Billions In Taxes In India
The Volkswagen Group, which include the brands Volkswagen, Audi, Skoda, Porche, and Lamborghini has been accused by Indian authorities of evading $1.4 billion (Rs 118.6 billion) in taxes, which is roughly Rs 11,865 crore.
-
Crypto Taxes Generated $78 Million in Kenya, Authorities Target Over $460 Million
Between 2023 and 2024, the Kenya Revenue Authority collected taxes from 384 digital asset dealers. Over the next five years, the KRA aims to raise KES 60 billion (roughly $464 million) from participants in Kenya’s Web3 ecosystem.
-
Japan’s Financial Regulator May Cut Crypto Tax, Encourage Investors to Engage with VDAs
In Japan, crypto-generated earnings are currently taxed between 15 and 55 percent. However, authorities are considering reducing this tax rate to a flat 30 percent for corporate investors and 20 percent for individual investors in FY 2025.
-
LIC Gets GST Demand Notice Of Rs 605.58 Crore
Life Insurance Corporation of India (LIC) on Thursday said tax authorities have slapped a demand notice of about Rs 605.58 crore on it for short payment of Goods and Services Tax (GST) for financial year 2019-20.
-
SBI Life Gets GST Demand Notice Of Rs 239 Crore
SBI Life on Thursday said tax authorities have slapped a demand notice of about Rs 239.27 crore on it for short payment of Goods and Services Tax (GST) for the financial year 2019-20.
-
Top Tax Authority CBDT Forms Panel To Review Income Tax Law
An internal committee of the Income Tax Department will review the 1961 direct tax law to eliminate redundant clauses as well as adopt best global practices to simplify it for taxpayers for better compliance, CBDT chief Ravi Agrawal has said.
-
Finance Ministry Exempts Aadhaar Body UIDAI From Payment Of Income Tax
The finance ministry has exempted the income of Unique Identification Authority of India (UIDAI) from payment of income tax for five years till fiscal 2027-28.
-
Israel Seizes $26 Million Of Palestinian Tax Funds To "Combat Terrorism"
Israel's far-right Finance Minister Bezalel Smotrich has ordered the seizure of 100 million shekels ($26 million) of tax funds intended for the Palestinian Authority, saying it would be used to pay for Israeli victims of terrorism.
