tax

The Ministry of Finance on Wednesday informed that the Centre has released two instalments of tax devolution to the state governments amounting to Rs 1,16,665.75 crore as against the normal monthly devolution of Rs 58,332.86 crore. "This…

Several companies that were under scrutiny by the government for availing duty-free benefits granted through advance authorisation scheme are all set to approach the taxman for refunds following a court direction. The Delhi High Court…

Minister of State for Finance Pankaj Chaudhary on Monday said the recent revision in GST rates is expected to boost the government's revenue collections. A 5 per cent Goods and Services Tax (GST) was levied on curd, paneer, honey, wheat…

Electric mobility company Olectra Greentech Limited (Olectra), has posted a nine fold jump in profit after tax for the quarter ending June 2022. Profit after tax for the company came in at Rs 18.8 crore against Rs 2 crore in the…

The government on Monday said it has raised a tax demand of Rs 14,820 crore after completing assessment in 368 cases under the black money law dealing with undisclosed foreign income. In a written reply in the Lok Sabha, Finance Minister…

Prompt redressal of taxpayers' grievances remains the top priority for the tax department, the newly appointed chairman of Central Board of Direct Taxes (CBDT) Nitin Gupta said on Sunday. In his message on the occasion of Income Tax Day,…

The Income Tax Department raided the premises of the Chairman of Hotel Royal Plaza Ashok Mittal for allegedly stashing income of Rs 40 crore on foreign shores. "Foreign Asset Investigation Units (FAIUs) of Income Tax department has…

The Delhi High Court has raised some key questions of law over a tax case between telecom equipment supplier ZTE Corp and the income tax department, which may have implications on similar cases being pursued by tax authorities against…

The government on Friday raised export duty on diesel by Rs 13/litre and that on petrol by Rs 6/litre. According to the statement by finance ministry, the export duty on ATF has been raised by Re 1/litre. The increase in taxes in aimed…

India's biggest tax reform, the Goods and Services Tax (GST), completes its half-a-decade journey on June 30, with many hits and some misses, and also brought about a paradigm shift in use of technology to bring about tax compliance and…