Tax
‘AIS for Taxpayer’ Mobile App
The Income Tax Department has launched a mobile app named ‘AIS for Taxpayer’ to help taxpayers get a comprehensive view of their Annual Information Statement (AIS) on their mobile phones. This move is in line with the government’s Digital India ..
Month: Current Affairs - March, 2023
Category: India Nation & States Current Affairs
Fifteenth Finance Commission meets to discuss Health Sector and Fiscal Consolidation
On May 21, 2020, the Fifteenth Finance Commission met to discuss health sector and fiscal consolidation in the country. Highlights A high-level group was constituted by the Finance Commission on health sector. The group had submitted its report August 2019. ..
Month: Current Affairs - May, 2020
CBDT releases relief funds to MSME
The Central Board of Direct Taxes (CBDT) issued Rs 5,204 cores as relief funds to MSME (Micro Medium and Small Enterprises) sector. Around 8.2 lakh small businesses have received Income Tax Refunds so far. Highlights In the last 10 days, ..
Month: Current Affairs - April, 2020
MEIS scheme to be replaced with RoDTEP Scheme
On March 13, 2020, the Union Cabinet approved to withdraw the MEIS (Merchandise Export from India) Scheme in phases. It is later to be replaced with RoDTEP (Remission of Duties or Taxes on Export Product) scheme. Highlights The MEIS is ..
Month: Current Affairs - March, 2020
India has the third-highest trade-related illicit financial flow globally
US-based think tank Global Financial Integrity (GFI) recently released a report titled “Trade-related Illicit Financial Flows in 135 Developing Countries: 2008-2017”. As per the report, five countries with the largest gaps were China ($457.7 billion), followed by Mexico, India, Russia and Poland. ..
Second National GST Conference of Central and State Tax Commissioners held
On January 7, 2020, the second National GST Conference and Central and State Commissioners was held to streamline the Goods and Services Tax. The Revenue Secretary of Ministry of Finance Dr Ajay Bhushan Pandey was the Chairman of the conference ..