Presenting the Budget 2019 before the Lok Sabha, Goyal said that the pro-farmer policies by the government have helped the cultivators to attain record levels of agricultural produce.

With no retrospective relief in sight for startups, which have already received an assessment order, the notification has yet again given rise to a new set of discretionary processes with no certainty.

The tax department had issued preliminary notices to domestic and multinational banks seeking to levy GST on services such as issuing cheque books and additional credit cards, ATM usage

China agrees to cut tariffs on Indian cancer drugsChina said on Monday it had reached an agreement with India to reduce tariffs and increase imports of Indian medicines, particularly anti-cancer drugs. The decision was part of its efforts to broaden trade relations amid its on-going spat with the United States. Both India and China slashed import tariffs of a range of products starting July 1, following the fourth round of negotiations under the Asia Pacific Trade Agreement (APT...

The Income Tax Department seized the shares after issuing Cairn with a Rs 10,247 crore tax demand on capital gains made on at the time of the sale of business to Anil Agarwal-led Vedanta.

The Walmart-Flipkart deal is a possible nightmare for the tax department given the complex holding structure of the Indian e-commerce giant.

The tax on the deal arises due to indirect transfer provisions of Indian income tax laws. The tax provisions say income arising out of transfer of share of a company registered outside India is taxable in India, if such shares derive substantial value from assets located in India.

The largest-ever deal in India's booming e-commerce space is in its final leg. Flipkart, country's biggest e-talier, has bought back over 1.8 million shares worth more than $350 million from minority investors, clearing the decks before its sale to Walmart.

The action comes ahead of the beginning of the final hearing in the arbitration initiated by Cairn to oppose the retrospective tax demand which was raised on a 2006 internal reorganisation of the firm's India unit, called Cairn India.