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.
New I-T proposal aims to widen tax base, seeks to make several additions to the transaction-reporting framework by including purchases of jewellery & white goods worth over Rs 1 lakh.
Modi says the reforms are meant to reduce govt interference in taxpayers' lives and encourage more people to pay their taxes. The charter & faceless assessment are effective from today.
Data released by the Controller General of Accounts showed that contraction in tax revenues and rising expenditures pushed the fiscal deficit to over Rs 6.6 lakh crore in first quarter.
I-T department has issued charge sheets to the officers for their complicity in a report that was prepared by 50 IRS officers, and causing "embarrassment" to govt.
Modi govt wants to earn Rs 2 lakh crore from ‘Vivaad Se Vishwas’ scheme for disputed tax cases, and has told field officers their appraisals will depend on it.
The reasons for both sides preventing any escalation lie in the political and military context of the strategic situation in West Asia within the larger global geopolitical framework.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
Coaching centres for Army aspirants in Jhunjhunu are shutting down due to plummeting admissions in the face of a lack of job guarantees under Agnipath Scheme.
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