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.
Mini deal will likely see no cut in 10% baseline tariff on Indian exports announced by Trump on 2 April, it is learnt, but additional 26% tariffs are set to be reduced.
PTC Industries is investing Rs 1,000 cr in 4 manufacturing plants in UP, has already started supplying titanium parts to BAE Systems for its M-777 howitzers that India also uses.
Public, loud, upfront, filled with impropriety and high praise sometimes laced with insults. This is what we call Trumplomacy. But the larger objective is the same: American supremacy.
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