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India may miss GST implementation target (19 November 09:49) |
| With issues like the exclusion of petroleum products from the purview of Goods and Services Tax (GST) yet to be resolved, India may miss the GST implementation deadline of April 1, 2010. |
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Determining GST rates calls for cutting the clutter (17 November 03:00) |
| The discussion paper on GST, released by the Empowered Committee of State Finance Ministers last week, turned out to be a damp squib, disappointing industry and the Centre alike.
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Manufacturing sees 200 rise in tax evasion (17 November 02:28) |
| Tax department’s search and seizure operations have revealed manufacturing to be a big tax evader in 2008-09, just behind the real estate, indicating that the sector may have acquired a bi... |
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GST would do away with cascading effect of levies Pranab (16 November 05:58) |
| The government today said the proposed Goods and Services Tax (GST) would help lower the incidence of taxes by avoiding cascading effect of multiple levies. |
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Zero-rating to ensure exporters go tax-free (11 November 02:28) |
| The longstanding demand of exporters for an exemption from payment of all input taxes may finally be met once the new GST regime is implemented. |
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GST discussion paper A first step towards ensuring clarity (11 November 02:23) |
| Discussion paper sets out the background and the context for the introduction of GST, the nature of dual GST and an annexure on answers to FAQs. |
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States bat for dual tax rate under GST (11 November 02:06) |
| States on Tuesday suggested a dual-rate structure for the proposed goods and services tax (GST) in keeping with the federal structure of the country. |
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Scramble on to meet GST date (11 November 01:06) |
| Discussion paper on Goods and Services Tax (GST) was unveiled on Tuesday and timelines were set, but consensus eludes many issues. |
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Difference of opinion no ground for penalty Tax tribunal (10 November 04:36) |
| The Delhi Income-tax Appellate Tribunal (ITAT) has held that difference of opinion cannot be a ground for levying penalty in transfer pricing issues. |
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DTC may swell revenue collection in subsequent years (06 November 07:06) |
| The proposed Direct Taxes Code (DTC) may have a neutral impact on tax revenue collection in its initial years of implementation but it’s likely to swell the exchequer revenue in subsequent... |
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EGoM to submit first draft on GST draft next week (01 November 11:33) |
| The Empowered Committee of State Finance Ministers will submit its first draft to the Centre on the proposed Goods and Services Tax next week, undeterred by speculations that the implementat... |
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Modi wallops Dhoni Sachin on tax charts (31 October 03:28) |
| While cricketers may be topping popularity charts, the champion cricket league promoter Lalit Modi has topped the tax charts.
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I-T dept issues fresh showcause to Vodafone (31 October 02:57) |
| The income-tax department on Friday issued a detailed showcause notice to the Netherlands incorporated Vodafone International Holdings as to why it should not be treated as a defaulter for n... |
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FM admits there may be few months delay in GST rollout (31 October 02:42) |
| The rollout of goods and services tax is likely to miss its April 1, 2010 deadline, dealing a blow to the government’s efforts to create a unified national market for goods and services in... |
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FM keeps fingers crossed over bringing in GST from April 2010 (28 October 12:45) |
| Finance Minister Pranab Mukherjee today kept his fingers crossed over introducing goods and services tax from April 2010. |
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Tax shock for foreign satellite cos (26 October 12:31) |
| A special bench of the Income-Tax Appellate Tribunal, New Delhi, held that fees paid by Indian broadcasting companies to foreign satellite service providers can be taxed in India.
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Wary of Indian tax rules PE players run for cover (26 October 12:20) |
| Scared over changing tax rules, private equity investors are now looking at insurance solutions for taking care of this new risk.
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CBDT plans new measures to boost tax mop-up (24 October 12:10) |
| CBDT will take a close look at advance tax collections, scrutinise companies that enjoy tax holidays, carry out searches and even reopen certain cases. |
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Commerce dept to bat for sops in tax code (20 October 01:22) |
| The commerce department has decided to ask the finance ministry that the proposed direct taxes code retain the tax benefits available to the units located in special economic zones (SEZs).
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Advance tax signals higher NIMs in Q2 (20 October 12:38) |
| Bank of India (BoI) has posted significant growth in the advance tax payment for the quarter ended September 2009.
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New rules on tax disputes to guide foreign firms (16 October 03:25) |
| The finance ministry will soon issue detailed guidelines for the new dispute resolution mechanism that it had promised in the budget earlier this year to swiftly settle tax liability dispute... |
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CFOs see April 2011 more apt for GST rollout Deloitte (14 October 01:44) |
| The firm surveyed finance executives of leading corporate houses who vouched for the new unified tax, but they questioned the suitability of the dual structure, which seems to be the only pr... |
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GST to reduce manufacturing cost Expert (12 October 07:19) |
| The proposed Goods and Services Tax (GST) would reduce manufacturing cost and benefit end-customers, 13th Finance Commission Chairman Vijay Kelkar said here on Monday. |
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Govt to tweak new direct tax code low-income segment may get more incentives (10 October 10:03) |
| FM said government has identified seven critical areas in the DTC for further examinations after interactions with stakeholders. Fact sheet on new direct tax code
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Govt to tweak new direct tax code low-income segment to get more incentives (10 October 06:38) |
| The government will also look into objections raised by the industry, regarding new proposed minimum alternate tax (MAT) to be levied on the basis of assets of a company instead of profit.
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India elected Vice-Chair of global peer review group on taxes (04 October 12:41) |
| The Peer Review Group would be part of 'Global Forum on Transparency and Exchange of Information for Tax Purposes' -- a grouping of nations that works towards establishing international tax ... |
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New Direct Tax Code may lose out on relief to poor (02 October 04:38) |
| I-T officials have objected to replacement of the word "charitable" with "welfare" for tax relief purposes in the new Direct Taxes Code (DTC), saying it could lead to misuse of concessions t... |
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Germany to get less taxing for Indians (01 October 04:32) |
| The some-pain-no-gain era of double payments by Indian workers on temporary assignments abroad will no longer happen in Germany at least.
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Gifts worth over Rs 50000 to attract tax now (01 October 04:09) |
| The tax department has willy-nilly become a party-pooper bang in the middle of India’s month-long festive season, characterised by indulgences in food, festivity and gifting.
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Tax cover on premium remittance set to go (29 September 01:16) |
| The finance ministry has ruled out any relaxation on tax deducted on premium remitted to reinsures overseas.
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Govt gearing up for Goods and Services Tax by April 1 2010 (25 September 06:31) |
| The Centre is gearing up for the implementation of the Goods and Services Tax as the April 1, 2010, deadline draws closer and is holding regular meetings with the states to make them agree t... |
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FM-Industry tax meet on Oct 9 (25 September 02:14) |
| Finance minister Pranab Mukherjee will discuss the new direct tax code, scheduled to be introduced by 2011, with top industrialists and chief financial officers of companies on October 9 in ... |
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Software bugs delay income-tax refunds (22 September 07:18) |
| Even as income-tax payers grapple with non-acceptance of their returns, it’s surely not a good time to expect refunds. |
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Direct tax code needs overhaul Experts (22 September 12:41) |
| A raft of tax experts and professional bodies including chambers of commerce across the country thinks virtually every line of the new direct tax code may have to be rewritten to shield dome... |
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I-T dept gears up to meet target (21 September 04:04) |
| The Income Tax department is monitoring advance tax collection of top assesses and of those companies who had paid high self-assessment tax last year to improve collections and meet enhanced... |
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Taxmen feel that Direct Tax Code may lead to loss of Rs 55000-crore (20 September 10:35) |
| Critical of the proposed DTC, I-T officials feared that it may result in an annual revenue loss of Rs 55,000-cr. Ten ways to lower your tax bill | Tax planning for self employed |
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Pranab seeks to allay concerns over Direct Taxes Code (19 September 08:27) |
| Finance Minister Pranab Mukherjee said changes in MAT is necessary considering big revenue loss due to lowering of both personal and corporate income tax rates in the Code. |
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Third-party info may nab tax evaders (18 September 01:31) |
| A finance ministry official told ET that the proposal had figured in the discussions at the recent annual conference of chief commissioners of excise and customs.
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New centralised tax system by this year-end D P Dash (17 September 06:53) |
| The new centralised system for processing excise and service tax which would the save tax payers time and money would be rolled out across the country by the end of this year, CBEC Additiona... |
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India expects slight improvement in corp adv tax (17 September 12:51) |
| The Indian government expects a marginal improvement in corporate advance tax for the July-September quarter.
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After HDIL I-T dept now raids Polycab Wires offices (17 September 12:03) |
| The Income Tax department has raided the offices of Mumbai-based cable company Polycab Wires in a swift operation that started late Tuesday and continued till Wednesday afternoon. |
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How does the new Direct Tax Code impact NRIs in particular (15 September 07:18) |
| The new tax code removes the NOR category of residential status. Now an individual would either be a Resident or NRI. a href="/quickiearticleshow/4070657.cms" target="_blank">Ways to lower t... |
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SBI pays Rs 1832 bn as July-Sept advance tax (15 September 04:52) |
| State Bank of India, the country's largest lender, has paid 18.32 billion rupees as advance tax for the July-September quarter, an income tax department source said on Tuesday. |
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Deducting tax at source from hospital bills must for TPAs (15 September 02:37) |
| Third party administrators processing health insurance claims for treatment of subscribers would soon have to deduct tax at source. Ways to lower tax bill | Tax planning for self employed |
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Taxman brings in software for post-returns scrutiny (13 September 08:09) |
| Income Tax department is deploying a new software solution to scrutinise the accounts of companies once the firms have filed their returns. |
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Babus could find tony homes taxing (13 September 02:24) |
| Gurgaon and Noida may soon look lucrative for top government officials who are presently enjoying their shine and rain in Lutyen’s Delhi. |
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Govt official may find tony homes taxing under draft tax code (13 September 02:24) |
| Gurgaon and Noida may soon look lucrative for top government officials who are presently enjoying their shine and rain in Lutyen’s Delhi. |
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No depreciation on bourse membership card value rules HC (12 September 01:41) |
| In A judgement that could have a bearing on the tax outgo of many stock brokers, the Bombay High Court on Friday ruled that depreciation cannot be claimed on stock exchange membership cards,... |
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STT mop-up marginally higher in Apr-Sept (12 September 01:30) |
| Rising market has led to an increased collection of the Securities Transaction Tax (STT), a tax imposed on every transaction on India’s capital markets, resulting in the total receipts rea... |
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HDIL admits to Rs 350 cr in unreported income (12 September 12:21) |
| HDIL, the Mumbai-based realty firm currently under the lens of the income tax department, has allegedly admitted to the existence of unreported income of around Rs 350 crore, said people fam... |
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