Central PSUs have used the Vivad Se Vishwas scheme to settle relatively larger-sized disputes. But private sector and others have used the scheme to only settle low-value disputes.
Finance Minister Nirmala Sitharaman also reduced the time frame for reopening of income tax assessment cases to three years and serious tax fraud cases to 10 years.
137% hike in health and wellness budget, agri infra cess, infra push — Nirmala Sitharaman announced a slew of allocations as she presented Budget 2021 Monday. Follow updates here.
Modi govt has raised the differential between circle rate and agreement value of residential properties to 20%. But the sop is limited in scope, say developers.
The payment of cash allowance, for a maximum of Rs 36,000 per person as deemed LTC, is being extended to employees of state governments, public sector enterprises, banks and private sector.
I-T dept will analyse expenditure patterns through collected data to look for evasion. But honest taxpayers won’t be impacted, stresses the government.
The tax department's move had raised concerns over increase in compliance burden for firms, and it's unclear if the govt will go through with the proposal.
India cannot be blasé about change in any important capital in the world. Let's look at five key areas where US policy matters for India and how it may vary between Harris and Trump.
In Episode 1544 of CutTheClutter, Editor-in-Chief Shekhar Gupta looks at some top economists pointing to the pitfalls of ‘currency nationalism’ with data from 1991 to 2004.
Troops patrolled up to Patrolling Point (PP) 10 on Monday. Though there are PP 10, 11, 12, 12A & 13 in Depsang Plains, it was decided that only one or two PPs would be patrolled.
While we talk much about our military, we don’t put our national wallet where our mouth is. Nobody is saying we should double our defence spending, but current declining trend must be reversed.
Both in direct and indirect taxes, demands are raised and confirmed for frivolous reasons. In the appeal before the appellate tribunals, 80% of the cases are decided in favour of the assessees. The tax payers know which side of the bread is buttered! Most of the huge demnds anounced soon after some search and seizure operation eventually flops, many years later. They never make headlines when such cases fail.
Both in direct and indirect taxes, demands are raised and confirmed for frivolous reasons. In the appeal before the appellate tribunals, 80% of the cases are decided in favour of the assessees. The tax payers know which side of the bread is buttered! Most of the huge demnds anounced soon after some search and seizure operation eventually flops, many years later. They never make headlines when such cases fail.