Tax | The Asian Age

Wednesday, Apr 24, 2024 | Last Update : 09:46 PM IST

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CBDT on January 4 issued a fresh circular withdrawing the December 31, 2018 circular. (Photo: ANI)

I-T dept withdraws circular on transfer of shares for 'no or inadequate consideration'

The Congress party had welcomed the December 31 circular of the CBDT.

05 Jan 2019 5:29 PM

The council, among other things, would also discuss lowering GST on under-construction flats and houses to 5 per cent from 12 per cent.

Ministerial panels on GST relief to MSMEs, levy of calamity cess to meet on Sunday

The decisions of the two ministerial panels would be placed before the GST Council when it meets next on January 10.

05 Jan 2019 3:21 PM

Google shifted $23 billion to tax haven Bermuda in 2017

The amount channeled through Google Netherlands Holdings BV was around 4 billion euros more than in 2016.

04 Jan 2019 9:46 AM

Indian refiners will make rupee payments in a UCO Bank account of NIOC. (Photo: PTI).

Govt exempts rupee payments for Iran oil from taxes

Any income a foreign company receives in an Indian bank account is subject to a withholding tax of 40 per cent

01 Jan 2019 3:49 PM

In March, the European Union’s executive arm proposed a 3 percent tax on big digital firms’ online revenues accusing them of funnelling profits through member states with the lowest tax rates to keep their overall tax down.

France, Germany aim to keep digital tax alive with new proposal

The two countries will try to agree a text to put to other EU countries when finance ministers meet.

04 Dec 2018 11:51 AM

Kante will earn just over £15million a year on his new improved terms - all of which is liable to be taxed in Britain.

Chelsea footballer N’Golo Kante to pay more tax than Amazon and Starbucks combined

Kante signed a new five-year contract worth £290,000-a-week to make him the top earner in the squad at Stamford Bridge.

24 Nov 2018 10:16 AM

Telecom sector highly taxed like tobacco industry: Sunil Mittal

Operators and Department of Telecom are under litigation for revenue maximisation, says Sunil Mittal.

25 Oct 2018 1:02 PM

In the wake of the discrepancy, the official said the National Informatics Centre (NIC) and GSTN have been pressed into action to probe the loopholes in the system.

Govt to penalise traders misusing e-way bill to evade taxes

As per the top official, around 15 lakh e-way bills are being generated on a daily basis.

03 Oct 2018 10:32 AM

The Council will hold its 30th meeting through a video-conferencing on Friday. (Representative image: Pixabay)

Cess on luxury cars may go up to help flood-hit Kerala

Kerala welcomes the suggestion of hon’ble FM for a national level cess on selected commodities.

28 Sep 2018 11:59 AM

Centre favours additional cess under GST to help flood-hit Kerala

Govt may have to amend the GST law to permit imposition of a new cess in the new indirect tax regime.

21 Sep 2018 3:48 PM

The rising fuel prices have triggered a political debate, with the Congress announcing a nation-wide shutdown on September 10.

Rising fuel prices: TN Govt says onus on Centre to cut taxes

The Centre has said it will not cut excise duty on petrol and diesel to cushion the spiralling prices.

07 Sep 2018 1:59 PM

Amazon group books most of its $11.4 billion of UK revenues via a UK branch of Luxembourg-based Amazon EU Sarl, Amazon’s main European operating unit.

Amazon reports 1.7 million pounds UK tax bill due to share deductions

The tax affairs of Amazon and other tech groups have been the subject of parliamentary scrutiny across Europe in recent years.

04 Aug 2018 1:00 PM

A man stands outside his tent on Division Street in San Francisco. (AP Photo/Eric Risberg, File)

San Francisco to consider tax on companies to help homeless

San Francisco voters will decide whether to tax large businesses to pay for homeless and housing services struggling with income inequality.

17 Jul 2018 1:04 PM

The proceeds from the proposed levy, estimated at Rs 6,700 crore, would have flown into a separate fund to be utilised for interventions in the sugar sector and for cane farmers.

Govt mulls 1 per cent cess on luxury items to build farm corpus

Seeks legal view on option; proposal to levy 1 per cent sugar cess scrapped.

12 Jul 2018 10:02 AM

If the authorities have their way, you could be paying up for scrolling through Facebook, Twitter, and more.

Gossip Tax: Now pay up for using Facebook, WhatsApp from July 1

The tax money collected will be used for bridging the budget deficit of the country’s GDP.

27 Jun 2018 10:42 AM

Airlines would make nearly USD 40 billion this year as passenger demand is expected to grow 7 per cent and cargo by 4 per cent.

India flouting global laws by taxing international air tickets: IATA

Airlines flew over four billion passengers in 2017 while more than 60 million tonnes of cargo was delivered by air.

04 Jun 2018 12:14 PM

Centre had told the Delhi High Court that the Vodafone Group had abused the process of law by initiating two international arbitrations. (Photo: PTI)

Delhi HC rejects Centre's plea against Vodafone's international arbitrations

Vodafone's move to initiate 2 international arbitrations against India in connection with a tax demand of Rs 11,000 crore.

07 May 2018 11:39 AM

Populated PCBs account for roughly half of a typical smartphone’s cost.

India imposes 10 percent tax on import of key smartphone components

A customs duty of 10 per cent was imposed on PCBs that are already populated with components.

02 Apr 2018 7:59 PM

India has imposed a 10 percent tax on imports of key smartphone components.

Govt imposes 10 per cent tax on key smartphone components

A 10 percent customs tax was also imposed on the imports of camera modules for phones and connectors.

02 Apr 2018 6:00 PM

Transporters moving from one state to another will have to carry an electronic or e-way bill from April 1. (Representational Image)

E-way bill mandatory for inter-state movement of goods

Platform has been made more robust and as many as 75 lakh inter-state e-way bills could be generated daily without any glitch.

30 Mar 2018 1:42 PM

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Sanjeev Ahluwalia