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RETRO TAX PROPOSAL
From scrapping retro tax law to record GST mop-up, 2021 a year of many firsts for revenue departmentWith tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country a...- GST Council Meet: Tax reduction on life saving drugs, and other key highlightsReducing taxes on life-saving medicines, bringing petrol and diesel within the ambit of indirect tax, rationalizing an inverted duty struct...
- Government releases draft of declaration to be given by companies to enable withdrawal of retro tax demandsCairn was levied tax for a 2006 internal reorganisation of India business before listing while Vodafone was charged for not withholding tax...
- Govt aims to support through subsidies 62,000 e-cars, buses; 15L electric 3-, 2-wheelers: GadkariPhase-II of Faster Adoption and Manufacturing of (Hybrid &) Electric Vehicles in India (FAME India) Scheme is being implemented with a tota...
- Uniform GST rate for both state run & state-authorized lotteries: Arunachal Pradesh Deputy CM, Chowna MeinMein who is also the Minister in-charge of Finance represented Arunachal Pradesh in the 35th GST Council Meeting chaired by Union Finance M...
- need2know: After Budget, over to Raghuram RajanToday's recap of all the macro triggers that have the potential of changing the fortunes of your financial markets.
- Retro tax law not applicable on dividends by foreign firmsThe erstwhile UPA government had amended the tax laws in 2012 budget retrospectively, allowing tax authorities to tax overseas transactions.
- Profit not bad word, resources needed to service poor: Arun JaitleyJaitley justified the government's decision to further open up sectors like defence and insurance to FDI saying the country required huge a...
- Retrospective tax: Government should unveil tax proposals in advanceThe government should amend the finance bill to make contributions of private sector employees tax-free from May 2009.
- Budget 2014 has created enabling environment for investment: Shaktikanta Das, Revenue SecretaryThis budget brings in a lot of policy stability. There are a whole host of steps that will aid economic recovery, says Revenue Secretary Sh...
- Budget 2014: Vodafone to continue international arbitration; 2012 retro-tax amendment staysFM disappointed many investors as he retained retro tax amendment implemented in 2012 that most significantly impacted Vodafone that had wo...
- GAAR, retrospective tax amendment keep revenue department busy in 2012Controversy generated by retrospective tax amendment and concerns over implementation of GAAR kept the Revenue Department busy throughout t...
- Tax authorities miffed at Shome Panel's reportsThe tax authorities are likely to oppose most of the conclusions of two panels, both headed by tax expert Parthasarathi Shome.
- FM P Chidambaram meets RBI, Sebi officials to revive the economyFM today held a meeting with RBI officials as part of a series of engagements planned for the day with the central bank, market regular Seb...
- House sale capital gains clause: P Chidambaram unhappy with the proposalA proposal in the 2012-13 budget to exempt the proceeds of house sales from capital gains tax, provided the money is invested in a small bi...
- There was no pressure to defer GAAR: Parthasarthi ShomeThe Parthasarthi Shome committee has taken a big step in addressing the tax proposals included in the budget, suggesting that GAAR be defer...
- GAAR panel to also review retrospective amendment proposal to Income Tax ActThe committee set up to draft rules against tax avoidance has been asked to review a retrospective amendment to the Income Tax Act.
- Ministerial body under PM to be set up to jumpstart electric car marketThe National Council on Electric Mobility will consider incentives to make green vehicles a viable option for two-wheeler and car buyers.
- Govt may remove customs duty on cancer, HIV drugsThe finance ministry is understood to be also considering hiking the weighted deduction on expenditure on R&D) by drug companies to 200% fr...
- Possess an old car? Pay more taxThe government may slap exorbitant road tax on old vehicles to take them off the road.
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