Taxation in the United States Current Affairs, GK & News

Draft Code on Social Security, 2019

The draft code amalgamates eight laws. It includes Employees Provident Fund and maternity benefits. The code was published by the Ministry of Labor and Employment. 4 major codes The code on social security will combine 44 labor laws into 4 codes. They are wages, occupational safety, working conditions and health. Unorganized Sector According to the ..

Topics: Economy • Employees' Provident Fund Organisation • Government • Government of India • India • Indian labour law • Labour law • Maternity Benefit (Amendment) Act • Pension • Social programs • Taxation in the United States • Unorganised Workers' Social Security Act

Social Security Code for New India

The government is in the process of formulating the code on social security and welfare for the third time as the trade unions and industry bodies had raised objections to some provisions in the earlier draft. The social security code is part of government’s effort to overhaul the country’s labour laws to condense them into four ..

Topics: Cheque • Computer security • Crime prevention • Current Affairs – May, 2017 • Economy • Financial services • Law enforcement • Social programs • Social Security • Taxation in the United States

CBDT Hikes Monetary Limits for Filing of Appeals by Income Tax Department

The Central Board of Direct Taxes (CBDT) has significantly increased the limit for the income tax department to appeal disputes in higher forums. One of the reasons behind the decision to raise the monetary limits is that the revenue department has fared poorly in the appeals filed by it, which was highlighted in the Economic ..

Topics: Commissioner of Income Tax • Economy • Economy of India • Income Tax Department • Income tax in India • Income tax in the United States • Ministry of Finance • Tax • Taxation in the United States

8.80 Million turns out to be ‘stop filers’ in Demonetisation year

Income Tax Returns have seen a upward surge in tax compliance aftermath of demonetisation and GST introduction. However according to a report, around 8.80 million taxpayers turned out to be ‘stop filers’ i.e. those who did not file tax returns in a given year despite doing so in the financial year 2016-17, the year when ..

Topics: Economy • Goods and services tax • Income tax in India • Indian banknote demonetisation • Modi administration • Tax • Tax forms • Tax return • Taxation in the United States

India and China sign protocol to Double Taxation Avoidance Agreement to prevent tax evasion

India and China have signed protocol to amend Double Taxation Avoidance Agreement (DTAA) for the avoidance of double taxation and for prevention of fiscal evasion with respect to taxes on income by allowing exchange of information. Under Section 90 of Income-tax Act, 1961, India can enter into agreement with foreign country or specified territory for ..

Month: Current Affairs - November, 2018

Topics: Base Erosion and Profit Shifting • BEPS • Corporate tax avoidance • Double taxation • Double Taxation Avoidance • Dtaa • Economy • Foreign direct investment • India China • International taxation • Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting • National • Tax • Tax avoidance • Tax Evasion • Taxation in the United States • World economy

Property Tax in India

The term ‘property’ stands for tangible real estate owned by a person. It includes houses, office places, rented out properties etc. Taxes are the primary source of income of the government and they determine the kind and amount of resources being available to the people. Property tax is recognised across the world as property is ..

Topics: Current Affairs – July, 2017 • Economy • Intangible property • Law • Personal property • Property • Property law • Property Tax • Tax • Taxation in India • Taxation in the United States • Use tax