The Income-Tax Department said multinational companies that are incurring global loss, or profit margin of less than 2%, will be deemed to have made a profit of 2% of Indian revenue or turnover and will be taxed accordingly.
Narender Saluja, Media Coordinator of Madhya Pradesh Chief Minister Kamal Nath, alleged the searches were carried out at the instance of the BJP and were “aimed at maligning the image of the Congress during elections”.
A day after the arrest of the Deputy Commissioner of Income Tax Department, Veerabhadram Vislavath, Gamdevi police have learnt that in 2013, he had been booked for alleged molestation, extortion and criminal conspiracy, by Bala Nagar police in Hyderabad. On Thursday, the deputy commissioner was arrested for allegedly sexually assaulting his 13-year-old help in his […]
As it analyses bank deposits post-demonetisation, the government has found that an estimated Rs 3-4 lakh crore of tax-evaded income could have been deposited during 50-day window provided to get rid of junked Rs 500/1000 notes. A senior official said Income Tax Department has been asked to scrutinise details and send notices to depositors of […]