The Union minister of state for finance said India continues to the fastest growing economy in the world even though many countries in the world are facing economic slowdown

CEA Krishnamurthy Subramanian said that one of the measures on the table is aimed at easing personal taxation and making the whole tax administration simpler.

The government has also prohibited banks and payment system providers from imposing any charge on transactions through electronic modes of payments

Pandey says it's not fair to say that GST is responsible for the current economic slowdown; contraction in imports and the failure of some sectors to perform well led to a drop in GST collection, he adds

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.

The Central Board of Direct Taxes (CBDT) of Ministry of Finance has made it mandatory to link 12-digit Aadhaar number with the 10-digit PAN card in order to file income tax returns.

Apart from slashing income tax rates, the direct tax report also suggested dropping surcharges and cess levied on income taxes

The immediate benefit of corporate tax cut is increased cash flows to corporate India that will be either channelised into debt reduction or incremental investments in increasing capacity

An ITR return needs to be verified within 120 days of filing of tax return.

The Finance Minister has announced a mini-stimulus package to arrest the economic slowdown. But the economy needs much more than piecemeal solutions

Income tax: The task force has, moreover, proposed introducing a new top tax bracket of 35 per cent for individuals earning above Rs 2 crore a year and doing away with the surcharge.

The KPMG report titled \"India: Redefining its growth path\" noted that the Minimum Alternate Tax (MAT) should be removed and Dividend Distribution Tax (DDT) needs to be superseded by the withholding tax.

Arun Jaitley death: He was an Akhil Bharatiya Vidyarthi Parishad (ABVP) student activist at Delhi University in the 70s and became President of the University Students' Union in 1974

CBDT did not recognise the Rs 100-crore turnover definition of a small start-up put up by the Department for Promotion of Industry and Internal Trade

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

BMS asks its one crore members to conduct a nationwide awareness programme from September 25-October 2 to protest against \"the wrong economic and labour policies\" of the government

How to manage your money better by using latest apps and other digital upgrades

Two successive finance ministers, Piyush Goyal in Interim Budget and Nirmala Sitharaman in Budget 2019, missed golden opportunities to revive the consumption cycle. It has cost the Indian economy two precious quarters, probably more