Even as India increases the scope of the Equalisation Levy, the US has initiated a probe against 10 countries for imposing taxes on digital services. This could effectively mean India, like many others, could face US reprisal, going forward

Tax regime needs greater stability, predictability and less litigation

Delhi election 2020: According to Election Commission of India, AAP has secured 53.5 per cent of voter turnout till 3:30 pm on Tuesday. Whereas, BJP has witness a growth in its vote share in 2020 Delhi polls

Election Results Live: PM Narendra Modi, Congress leader Rahul Gandhi, union ministers Rajnath Singh and Prakash Javadekar, were among the various political figures who extended their congratulations to Arvind Kejriwall and AAP

Budget 2020: The Finance Ministry is mulling these measures ahead of the Budget for 2020-21, which may be presented by the Finance Minister Nirmala Sitharaman on February 1

Responding to a question at an event in Delhi recently, finance minister Nirmala Sitharaman also said that the government was looking at myriad suggestions and the relaxation on personal income tax was one of them before it presents the Union Budget 2020 in February next year

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CBDT-member Akhilesh Ranjan-led panel has recommended introducing a 10 per cent tax rate slab for annual income between Rs 2.5 lakh and Rs 10 lakh followed by a 20 per cent slab for the Rs 10-20 lakh income bracket and a 30 per cent, or higher, slab for higher income levels.

'India will receive information of the calendar year 2018 in respect of all financial accounts held by Indian residents in Switzerland,' said CBDT

CBDT Member Akhilesh Ranjan, who was overlooked for the post of the Board's chairman, has written to the government seeking voluntary retirement, official sources said on Friday.

The tenure of CBDT Chairman PC Mody has been extended by an year, a government order said Thursday.

Arun Jaitley passes away Live Updates: Former Finance Minister's body body will be taken to the BJP headquarters on Sunday morning where leaders across the political spectrum are expected to pay their last respects. From BJP headquarters, it will be taken to the Nigambodh Ghat for the last rites.

The new Direct Tax Law is likely to include announcements that would vastly simplify the six-decade-old Income-tax Act, leave more money in the hands of individual taxpayers, help India Inc, make tax litigations easier, and check harassment by taxmen, among other things

An Indian government panel has recommended cutting the corporate tax rate to 25% from 30% for all companies and scrapping surcharges on tax payments.