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Tax

Tax rules for MNCs expected to change, suggestions from CBDT

On Thursday, the Income Tax (I-T) department proposed changes in the guidelines for taxation for multinational companies (MNCs) and digital companies that have permanent establishments...
Startup

Angel tax may lead new startups to register overseas

Tax authorities have sent across angel tax notices to many new startups to pay tax on the funds received to expand their businesses. The issue of...
PAN

New rules for PAN card to be effective December 5

Come December 5, new rules will come into effect for PAN card applicants, with the Income Tax Department changing existing rules to curb cases...
Restaurant

Service charges, if not distributed among restaurant workers, will be liable...

The Central Board of Direct Taxes (CBDT) said that if hotels and restaurants collect service charges but do not pass on the amount to...
GST

Submitting GST refund claim now gets simpler

The government has simplified the GST refund claim process for businesses. Those looking to claim a refund will now have to submit only copies...
Income-Tax

Undisclosed income amounting to Rs.10,767 crore detected by IT Dept.

Undisclosed income to the tune of Rs.10,676 crore was detected by the IT department during FY17-18, as per a report published by Financial Express. This...
New-ITR-forms-notified-by-the-Central-Board-of-Direct-Taxes

CBDT Notifies New ITR Forms: GSTIN, Salary Breakup to be Submitted

The Central Board of Direct Taxes recently notified the new ITR forms for AY 2018-19. As per the notification, businessmen are mandated to provide...
CBDT

CBDT proposes new “faceless and nameless” e-assessment from 2018

The Central Board of Direct Taxes (CBDT) has proposed a new “faceless and nameless” e-assessment procedure for income tax payers in the country. With...

Aadhaar must be linked to 6 services – deadlines soon approaching

The Government issued a mandate stipulating that Aadhaar-linking was necessary for various key services and documents if citizens wished to continue using them. For...
CBDT

I-T department implements chat facility to address income tax queries

After the Goods and Services Tax (GST) implementation, the GST Council had created a troubleshooting window in the form of a chat facility to...