If the gift amount is significant, chances are you will end up paying the highest tax rate of 30 per cent on your gift

The amendment to The Taxation Laws (Amendment) Bill, 2019 follows the clarification sought by the industry, if software development comes under the ambit of manufacturing and qualifies for the reduced tax rate

The scheme that closes on December 31 looks to settle 1.8 lakh disputes pertaining to service tax and excise duty

Total income was at Rs 1,413 crore during July-September of 2019-20, up from Rs 1,001 crore in same period of 2018-19, Shree Renuka Sugars said in a regulatory filing

While similar efforts have been made earlier, the one difference this time is the fact that the government wants people to disclose gold that they bought from unaccounted money

The corporate tax rate cut may have enthused a large section of India Inc, but there are still many companies that do not intend to accept the largesse

MAT is applicable on companies whose tax liabilities come down substantially due to various exemptions and deduction benefits provided under the tax laws

GST mop-up slips to 19-month low of Rs 91,916 crore in SeptemberGST collection slipped to Rs 91,916 crore in September, the lowest in 19 months. It is also a substantial decline from the GST revenue of Rs 98,202 crore reported in August 2019. Of the total GST collection, CGST was Rs 16,630 crore and SGST was Rs 22,598 crore. IGST during the month was Rs 45,069 crore, including Rs 22,097 crore collected on imports. Cess collected during September was Rs 7,620 crore.Mahindra to lead...

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.

Singapore with 17 per cent tax rate, and Vietnam, Thailand, Cambodia and Taiwan with 20 per cent base tax rates are the only countries offering lower rates than India

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

S-Presso is Maruti Suzuki's indigenously developed, conceived, and a designed vehicle that will be sold from the Arena dealership channel of the company. This would be the second product after Vitara Brezza (a compact SUV) to be designed and developed in India

Kant's comments came in the backdrop of corporate tax cuts announced by the Centre on Friday

Speaking at the India Today Conclave 2019, Niranjan Hiranandani said that the government's move to lower the corporate tax will help restrict the downslide in the Indian economy