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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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Colgate-Palmolive Receives Tax Demand Notice Of Nearly 250 Crores
Colgate-Palmolive (India) Ltd has received a tax demand notice of Rs 248.74 crore from the Income Tax Authority in a transfer pricing-related issue.
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KuCoin Completes Registration with India’s FIU, Will Deduct 1 Percent TDS on Transactions
KuCoin has become the latest international crypto exchange to have completed compliance with India’s FIU. The tax deduction process on KuCoin for Indian investors and traders will begin on April 10 and the authorities will deposit the amount to India’s financial authorities.
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LIC Gets GST Demand Notice Of Rs 178 Crore
Life Insurance Corporation of India (LIC) on Tuesday said tax authorities have slapped a demand notice of about Rs 178 crore on it for short payment of Goods and Services Tax (GST) for two financial years.
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"Why By Inference?" Supreme Court To Centre On Tax On Minerals
The Supreme Court on Tuesday asked the Centre as to why the statute does not say in clearer terms that only Parliament has the power to impose tax on minerals and states are denuded of authority to levy such exaction.
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Diamond Watch And Supercars: Tobacco Baron's Lavish Lifestyle Under Probe
After establishing itself as a key player in the tobacco industry, the Banshidhar Company has come under the radar of Income Tax authorities who are working round the clock to unravel the company's web of deception.
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Can Parliament Impose Tax On Mineral Rights? What Supreme Court Said
The Constitution vests the power to impose a tax on mineral rights not in Parliament but in states, the Supreme Court told the Centre on Thursday, underlining that such authority should not be diluted.
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Online Gaming Companies Get Rs 1 Trillion GST Notices Over Tax Evasion
GST authorities have issued show cause notices worth Rs 1 lakh crore to online gaming companies for tax evasion so far, a senior official said on Wednesday.
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Indian Tax Authorities Are Losing Rs 2 Lakh Crore Annually, Claims Report
As Cricket World Cup 2023 is gaining momentum, illegal betting activities are also picking up steam with crores of rupees invested through informal routes leading to a loss of about Rs 2 lakh crore to tax authorities, a report said.
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4,900 Fake GST Registrations Cancelled, Rs 15,000 Crore Tax Evasion Detected
GST authorities have so far cancelled over 4,900 GST registrations and detected tax evasion of over Rs 15,000 crore during the ongoing two-month drive to weed out fake GSTINs which will end on July 15, a senior tax official said on Wednesday.
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6 Years Of GST: Rs 1.5 Lakh Crore Monthly Revenue, Focus Now To Curb Tax Evasion
Six years after Goods and Services Tax revenue of Rs 1.5 lakh crore every month has become a new normal and tax officers are focusing on dealing with fraudsters who are adopting newer modus operandi to game the system, causing loss to the exchequer.
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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.
-
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.
-
Colgate-Palmolive Receives Tax Demand Notice Of Nearly 250 Crores
Colgate-Palmolive (India) Ltd has received a tax demand notice of Rs 248.74 crore from the Income Tax Authority in a transfer pricing-related issue.
-
KuCoin Completes Registration with India’s FIU, Will Deduct 1 Percent TDS on Transactions
KuCoin has become the latest international crypto exchange to have completed compliance with India’s FIU. The tax deduction process on KuCoin for Indian investors and traders will begin on April 10 and the authorities will deposit the amount to India’s financial authorities.
-
LIC Gets GST Demand Notice Of Rs 178 Crore
Life Insurance Corporation of India (LIC) on Tuesday said tax authorities have slapped a demand notice of about Rs 178 crore on it for short payment of Goods and Services Tax (GST) for two financial years.
-
"Why By Inference?" Supreme Court To Centre On Tax On Minerals
The Supreme Court on Tuesday asked the Centre as to why the statute does not say in clearer terms that only Parliament has the power to impose tax on minerals and states are denuded of authority to levy such exaction.
-
Diamond Watch And Supercars: Tobacco Baron's Lavish Lifestyle Under Probe
After establishing itself as a key player in the tobacco industry, the Banshidhar Company has come under the radar of Income Tax authorities who are working round the clock to unravel the company's web of deception.
-
Can Parliament Impose Tax On Mineral Rights? What Supreme Court Said
The Constitution vests the power to impose a tax on mineral rights not in Parliament but in states, the Supreme Court told the Centre on Thursday, underlining that such authority should not be diluted.
-
Online Gaming Companies Get Rs 1 Trillion GST Notices Over Tax Evasion
GST authorities have issued show cause notices worth Rs 1 lakh crore to online gaming companies for tax evasion so far, a senior official said on Wednesday.
-
Indian Tax Authorities Are Losing Rs 2 Lakh Crore Annually, Claims Report
As Cricket World Cup 2023 is gaining momentum, illegal betting activities are also picking up steam with crores of rupees invested through informal routes leading to a loss of about Rs 2 lakh crore to tax authorities, a report said.
-
4,900 Fake GST Registrations Cancelled, Rs 15,000 Crore Tax Evasion Detected
GST authorities have so far cancelled over 4,900 GST registrations and detected tax evasion of over Rs 15,000 crore during the ongoing two-month drive to weed out fake GSTINs which will end on July 15, a senior tax official said on Wednesday.
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6 Years Of GST: Rs 1.5 Lakh Crore Monthly Revenue, Focus Now To Curb Tax Evasion
Six years after Goods and Services Tax revenue of Rs 1.5 lakh crore every month has become a new normal and tax officers are focusing on dealing with fraudsters who are adopting newer modus operandi to game the system, causing loss to the exchequer.
