Taxation in India
K M Prasad appointed as new Principal Chief Commissioner of Income-tax (PCCIT) of National e-assessment centre
The National e-Assessment Centre (NeAC) has been set up by the Central Board of Direct Taxes (CBDT) in the national capital as part of the government’s ambitious plan to launch faceless and nameless assessment for Income Tax (IT) payers from ..
Tags: Central Civil Services • Commissioner of Income Tax • Economy of India • Government of India • Income Tax
Recommendations of Task Force on Simplification of Direct Tax
The task force on simplification of direct tax legislation headed by Central Board of Direct Taxation (CBDT) member Akhilesh Ranjan has recommended major changes in personal income tax slabs. Recommendations of the Task Force Continuation of the minimum exemption limit ..
Tags: Goods and services tax • Income Tax Act • Income tax in India • Income taxes • minimum alternate tax
Government of India notifies Sabka Vishwas – Legacy Dispute Resolution Scheme 2019
The Government of India (GoI) has recently notified the Sabka Vishwas – Legacy Dispute Resolution Scheme 2019 to reduce legacy service tax and central excise cases in the pre-GST era. The scheme will be operationalized from 1st September 2019 & ..
Tags: Goods and services tax • Modi administration • Tax • Taxation in India
Rajiv Gauba appointed as new Cabinet Secretary
Rajiv Gauba, a 1982 batch IAS officer of Jharkhand cadre, has been appointed as the new Cabinet Secretary for two years. His tenure will be effective from August 30, 2019 & will succeed Pradeep Kumar Sinha. Gauba is currently posted ..
Tags: Cabinet Secretariat • Cabinet Secretary of India • Central Civil Services • Civil Services of India • Government of India
Akhilesh Ranjan task force on Direct Tax Code submits Report to Finance Ministry
The task force, headed by CBDT member Akhilesh Ranjan, constituted by the Union government for drafting the new Direct Tax Code (DTC) has recently submitted its report to Union Minister of Finance and Corporate Affairs Nirmala Sitharaman. The task force ..
Tags: Central Civil Services • Income Tax • Income Tax Department • Income tax in India • Indian Revenue Service
GST Council to reduce GST Rate on Electrical Vehicles from 12% to 5%
In a bid to promote electric mobility, the GST Council has decided to reduce GST Rate on Electrical Vehicles from 12% to 5% and on charger or charging stations for Electric vehicles from 18% to 5%. The new rates will ..
Tags: Charging stations • Electric bus • Electric vehicle • Electric vehicles • Goods and services tax