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GST Council may consider national bench of AAAR next month; move to give certainty to taxpayers

Sources said the revenue department is mulling on the idea of a national bench of AAAR since it feels that the Authority for Advance Ruling (AAR) mechanism in its current form is not serving its objective of providing certainty to taxpayers under the Goods and Services Tax (GST) regime.

For ‘super rich’ it’s pay tax now, may get refund later

For individual tax payers, the deadline for the first tranche of advance tax payments is September 15, by when the Finance Act would be passed.


Early bird incentive on property tax deferred

Tax payers in the city will have to wait before they can avail early bird incentive scheme on payment of property tax since the Brihanmumbai Municipal Corporation has deferred its implementation to the next financial year

Tax dept to closely scan returns from low-tax havens

* Move to shore up revenue collection,widen tax base

E-filing tax returns to be completely paperless

E-filing of income tax returns will become completely paperless in a few months. The 2.14 crore tax payers

I-T department aims to cut down litigation

Tax payers caught in legal battles with the income tax department may be in for a relief. The department,known to be the biggest litigant in the government,has decided to work towards “changing the mindset” of the officials responsible for the litigations.


Mandatory e-filing returns for income above Rs 5 lakh

All the tax payers having taxable income of more than Rs 5 lakh will now have to file their income tax returns electronically

Salman Khan emerges the 'tiger' among Bollywood taxpayers

Salman Khan trumped all his peers and rivals from Bollywood by paying Rs 8 crore in advance tax.

Tax payers can pay dues in select bank branches in Delhi: RBI

RBI has advised tax payers to pay their dues on time to avoid last minute rush.

I-T collection in city Rs 14,300 cr from 9.15 lakh tax payers

Pune city contributes nearly 70 per cent of the total income tax (I-T) collection in the Pune region.

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There is no new idea in Budget 2016-17: P. Chidambaram

New Delhi, Feb 29 (ANI): Congress Leader P. Chidambaram on Monday said that one big take away from Budget 2016-17 was that there is no new idea presented by Finance Minister Arun Jaitley, adding that NDA has followed its own brand of budget making. He further said that there is no major relief for tax payers, and the reduction of corporate tax rate from 30 percent to 29 percent for a very limited class, is laughable. He said that the only virtue of the budget is that it has left every section disappointed and he is happy that the UPA schemes have been continued with. He added that the government is boasting that they collected more tax than ever, but it was only due to excise on crude and not from corporate tax.