Sensex slumped 549 points or 1.11 per cent to 49,034 and Nifty tumbled 161 points or 1.11 per cent to 14,433

The court stated that CBDT can take a lenient approach in terms of consequences of late filing of tax audit reports; \"We leave it to the better discretion of the CBDT,\" it said

Every penny of reduction in tax outflow boosts your return. If your expected long-term capital gain is below Rs 1 lakh, your gains will be completely exempted and hence you would not need to go for any additional effort to save taxes

The scheme proposes to set up a National Faceless Appeal Centre (NFAC), Regional Faceless Appeal Centres (RFACs) and Appeal units (AUs) which will allocate a recommendation for penalty made under the faceless assessment programme

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

Experts expect that further rally in the market may need the economy to regain its mojo for which the Union Budget will prove to be a ideal platform

How the FM can make it a 'never before' Budget. Top experts weigh in

Catch top stories from the world of business and economy with BusinessToday.In's Biz EOD report

With this, the central government has released a total of Rs 60,000 crore so far to all States and UTs, which amounts to more than 50 per cent of their estimated GST compensation shortfall

According to Finance Secretary Ajay Pandey, the officials were able to arrest tax evaders because of the data taken from agencies like Income Tax Department, Customs unit, FIU and GST department, and banks

As compared to the year-ago period, the credit growth remained low, reflecting subdued demand and risk aversion in the banking system -- especially towards the corporate segment

The revenue department has already started sharing such information among its wings - direct tax, indirect tax and customs departments

Factoring in bank charges, conversion rate and taxes, the real rate of return on your overall investments may not be as attractive as it appears on the paper

Permanent Court of Arbitration in The Hague said Cairn Energy's India business reorganisation in 2006 before its listing on stock exchanges was not \"unlawful tax avoidance\"; ordering Indian tax authorities to drop tax demand

The government has reportedly challenged the international tribunal's September verdict that ruled in favour of Vodafone Group Plc in the Rs 22,100-crore tax dispute case

Supreme Court lawyer Arvind Datar, who has represented Cairn in this case, says that the government has the right to appeal but he does not know whether they will appeal or not

The Government will be studying the award and all its aspects carefully in consultation with its counsels, says finance ministry, adding that it will consider all options and take a decision on further course of action, including legal remedies before appropriate fora

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

India Stock Market Highlights Today: Global equities were bearish today as coronavirus infections increased in parts of North Asia, such as Japan and South Korea, and weighed on investor sentiment. European countries have banned flights from the UK as the British government began emergency lockdown on Sunday, over fear of new virus strain.

Based on cumulative inflows between April 2000 and September 2020, it is the 10th largest contributor with a 2 per cent share in total FDI flows