Tax Base

Amid uproar over reports that people in Himachal Pradesh will now be taxed based on the number of toilet seats they have in their houses, Chief Minister Sukhvinder Singh Sukhu today said that there was no such "toilet tax" in the state.

Budget 2024: This budget, marking Sitharaman's seventh consecutive presentation and surpassing Morarji Desai's record, will include proposed changes in income tax and measures to enhance business ease.

The Madhya Pradesh Lokayukta has launched an investigation into an alleged massive liquor scam based on a confidential report from the Income Tax Department.

The Congress' claims of "tax terrorism" based on fresh notices from the Income Tax department have been strongly countered by sources in the government agency, who have pointed out that incriminating material had been seized.

Income tax notices to the Indian National Congress were issued back in March 2023 and the assessment proceedings demanded for those seven years, as per law, were set to get time barred on March 31, 2024, according to sources.

The Delhi Police has filed a case of forgery and criminal conspiracy based on a complaint alleging that Hero MotoCorp manufactured fake bills worth Rs 5.9 crore and obtained tax credit of over Rs 55 lakh, officials said on Monday.

Sony Group on Thursday said it is examining a partial spin-off of its financial business just three years after taking full control, as the conglomerate doubles down on entertainment and image sensors. A partial spin-off of Sony Financial, which the group said was made possible by changes in tax rules, would allow the newly listed business to retai...

Vivek Johri said the GST and Customs revenue collection numbers as given in Budget 2023-24 are realistic based on nominal GDP growth and import trends.

Poor compliance was identified as a weak link in achieving targeted collections leading to complex issues like overtaxing, complicated tax structures, rising litigation,Think Change Forum (TCF), a think tank said.

The Minister of State for Finance had said the GST rates and exemption were prescribed by the government, based only on the recommendations of GST Council.

The tax rates are revised every fortnight based on prevailing international rates. The levy on petrol export has since been abolished.

The Budget should focus on measures to accelerate job creation and broaden the tax base by rationalising GST and personal income tax slabs to boost consumption, industry bodies said in their pre-Budget meeting with Finance Minister Nirmala Sitharaman today.

The income tax department has found "undisclosed" income of more than Rs 250 crore after it raided two "prominent" real estate groups based in Kolkata, West Bengal, the CBDT said today.

Property tax rates may go up marginally in Delhi if the report of the MCD's fifth Municipal Valuation Committee (MVC) is implemented which recommends a 37 per cent increase in base unit area value, officials said on Wednesday.

The income tax department has detected "unaccounted" income of more than Rs 150 crore after it recently raided a business group based in Jhansi, Uttar Pradesh, that is engaged in undertaking civil contracts and real estate development, the CBDT said.

Amid uproar over reports that people in Himachal Pradesh will now be taxed based on the number of toilet seats they have in their houses, Chief Minister Sukhvinder Singh Sukhu today said that there was no such "toilet tax" in the state.

Budget 2024: This budget, marking Sitharaman's seventh consecutive presentation and surpassing Morarji Desai's record, will include proposed changes in income tax and measures to enhance business ease.

The Madhya Pradesh Lokayukta has launched an investigation into an alleged massive liquor scam based on a confidential report from the Income Tax Department.

The Congress' claims of "tax terrorism" based on fresh notices from the Income Tax department have been strongly countered by sources in the government agency, who have pointed out that incriminating material had been seized.

Income tax notices to the Indian National Congress were issued back in March 2023 and the assessment proceedings demanded for those seven years, as per law, were set to get time barred on March 31, 2024, according to sources.

The Delhi Police has filed a case of forgery and criminal conspiracy based on a complaint alleging that Hero MotoCorp manufactured fake bills worth Rs 5.9 crore and obtained tax credit of over Rs 55 lakh, officials said on Monday.

Sony Group on Thursday said it is examining a partial spin-off of its financial business just three years after taking full control, as the conglomerate doubles down on entertainment and image sensors. A partial spin-off of Sony Financial, which the group said was made possible by changes in tax rules, would allow the newly listed business to retai...

Vivek Johri said the GST and Customs revenue collection numbers as given in Budget 2023-24 are realistic based on nominal GDP growth and import trends.

Poor compliance was identified as a weak link in achieving targeted collections leading to complex issues like overtaxing, complicated tax structures, rising litigation,Think Change Forum (TCF), a think tank said.

The Minister of State for Finance had said the GST rates and exemption were prescribed by the government, based only on the recommendations of GST Council.

The tax rates are revised every fortnight based on prevailing international rates. The levy on petrol export has since been abolished.

The Budget should focus on measures to accelerate job creation and broaden the tax base by rationalising GST and personal income tax slabs to boost consumption, industry bodies said in their pre-Budget meeting with Finance Minister Nirmala Sitharaman today.

The income tax department has found "undisclosed" income of more than Rs 250 crore after it raided two "prominent" real estate groups based in Kolkata, West Bengal, the CBDT said today.

Property tax rates may go up marginally in Delhi if the report of the MCD's fifth Municipal Valuation Committee (MVC) is implemented which recommends a 37 per cent increase in base unit area value, officials said on Wednesday.

The income tax department has detected "unaccounted" income of more than Rs 150 crore after it recently raided a business group based in Jhansi, Uttar Pradesh, that is engaged in undertaking civil contracts and real estate development, the CBDT said.