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Governments could still set whatever local corporate tax rate they want, but if companies pay lower rates in a particular country, their home governments could top up their taxes to the 15% minimum, eliminating the advantage of shifting profits.

Net Direct Tax Collection Surges by 19%

The government has budgeted to collect Rs 18.23 lakh crore from direct taxes, 9.75% higher than Rs 16.61 lakh crore...

12 Jan 2024 3:10 AM IST

ncome Tax return forms being revised. (PTI Photo)

I-T revises return forms to enable taxpayers avail benefits of...

The new income tax returns forms will be notified by the month-end and return filing utility would be available by May...

19 April 2020 6:53 PM IST

Representative Image. (PTI Photo)

Indian government brushes off proposal to impose coronavirus tax on...

Some 50 officers of Indian Revenue Service recommended raising highest tax rate to 40% for people with annual income...

27 April 2020 8:26 AM IST

The scheme seeks to provide certainty to taxpayers in the domain of transfer pricing by specifying the methods of pricing and setting the prices of international transactions in advance.

CBDT open to lowering withholding tax for foreign firms

CBDT Chairman Sushil Chandra also urged firms and MNCs operating in India to pay their due share of taxes.

23 Aug 2017 2:16 PM IST

Under the PMGKY after payment of tax, 25 per cent of the unaccounted money will have to be mandatorily parked with the government for 4 years as non-interest bearing deposit.

CBDT hikes upfront payment in tax disputes, experts term move 'harsh'

Earlier, the threshold for obtaining a stay on outstanding demand was 15 percent of the disputed tax demand.

20 Aug 2017 6:00 PM IST

Rule 114E of Income-Tax Rules, 1962, for furnishing Statement of Financial Transactions (SFT) came into force with effect from April 1, 2016.

Direct tax collection jumps 19 per cent in Apr-June to Rs 1.90 lakh...

The collection, net of refunds, was 19.5 per cent of the total Budget Estimate of direct taxes for 2017-18.

9 Aug 2017 8:28 PM IST

Central Board of Direct Taxes (CBDT) chairman Sushil Chandra said on Friday that Rs 2,600 crore in concealed income has been disclosed so far following demonetisation. (Photo: Representational Image)

Govt creates email ID to report black money; March 31 deadline for...

Revenue Secretary Hasmukh Adhia also announced the launch of a tax disclosure scheme which would open on Saturday and...

16 Dec 2016 5:33 PM IST