The focus on self-reliance, innovation, research and development, infra capex and digital payments in Union Budget 2021 would definitely help in lifting the Indian economy from under $3 trillion to $5 trillion in the near term

While the expectations of the common man of tax relief are not met, the budget outlines measures to rationalise the tax structure and bring out changes in the tax processes

With a fiscal deficit of 9.5% of GDP, there was limited scope for any significant tax concessions in Budget 2021

Substantial changes have been introduced in relation to Tax Dispute Resolution mechanism to impart greater efficiency, transparency and accountability by eliminating interface to the extent technologically feasible by optimising utilisation of resources and introducing dynamic jurisdiction

The time-limit for re-opening of assessment is being reduced to 3 years. Originally this was six years. Re-opening of assessment up to ten years will be allowed only if there is evidence of undisclosed income of  Rs 50 lakh (or more) for a year

Budget 2021: No changes in ncome tax slabs, PPF limit, Section 80C exemption were announced by the Finance Minister

In a major move, FM Sitharaman reduced the time limit for reopening of income tax assessment cases to three years from six years, while for serious tax fraud cases where concealment of income is Rs 50 lakh or more it would be 10 years

The Bitcoin prices may have corrected about 25 per cent in last three days. It had shot through the roof over the last few months - from $6000-odd in April to $41,946.74 as on January 8, its all-time high. It hit a day's low of $30,549.60 on Monday

Srivastava, who was compulsorily retired by the government on June 11, 2019 on charges of corruption and misconduct, had no jurisdiction to pass the orders, the tribunal observed

In a major moral victory for the past chairman of Tata Group who was unceremoniously sacked on October 24, 2016, the tribunal issued a corrigendum on Wednesday to its December 28 order saying \"the critical remarks were due to a typo\"

The Income Tax Appellate Tribunal (ITAT) passed three orders observing that the I-T department's revision orders in the three trusts are \"devoid of any legally sustainable merits.\"

International arbitration tribunal has asked India to pay Rs 8,000 crore as damages to Cairn; winning of case ends one of the most high profile disputes in India

Issue was recently discussed at a meeting in which PM Modi was also present but final decision will most likely be taken in next meeting after weighing in all pros and cons

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PM Modi remarked that along with the reduction of tax and simplicity in the process, the biggest reforms that have been done are related to the dignity of honest taxpayers, to protect them from trouble

Era Infra sees no immediate closure even after three years, as litigation and procedural delays slow down the insolvency process

A division bench of justices' TS Sivagnanam and V Bhavani Subbaroyan recorded the submissions made by the IT department and issued notice to the music composer

Apart from rise in financial frauds in private companies in India, recent years have also witnessed a rise in the role of shell companies and tax havens in their operations, raising further concerns about illicit operations

The case pertains to assessment years 2011-12 and 2012-13 on money spent by the Trust for creating an endowment fund at Cornell University, US, to provide scholarships to Indian students and granting financial assistance to the Harvard Business School

Tata Education and Development Trust has been allowed to claim tax exemptions on those expenditures after their appeal on a demand of  Rs 110 crore by the tax department