Page-11 of Taxation

Lok Sabha passes Taxation Laws (Amendment) Bill, 2016

August 11, 2016

The Lok Sabha has passed the Taxation Laws (Amendment) Bill 2016 to pave the way for employers in the textile sector to avail of the income tax benefit. The Bill seeks to amends the Income Tax Act (IT), 1961 and ..

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Parliament passes The Constitution (122nd Amendment) (GST) Bill, 2014

August 9, 2016

The Parliament passed The Constitution (122nd Amendment) (GST) Bill, 2014 after it was unanimously passed by the Lok Sabha by approving all the amendments made by Rajya Sabha earlier. The bill now will go states (15 out of total 29 ..

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Union Government aims to roll out GST from April 1, 2017

August 6, 2016

The Union Government has set the ambitious target to roll out of the Goods and Services Tax, (GST) from 1st April 2017. It was announced by Union Finance Minister Arun Jaitley after unveiling a detailed road map for GST implementation. ..

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CBDT inks 7 Advance Pricing Agreements to cut tax litigation

July 19, 2016

The Central Board of Direct Taxes (CBDT) has signed seven unilateral Advance Pricing Agreements (APAs) with Indian taxpayers to reduce tax litigation. With this, CBDT has so far entered into 77 APAs. This includes three bilateral APAs and 74 unilateral ..

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India, Kenya ink seven agreements to deepen and expand cooperation

July 11, 2016

India and Kenya have signed seven agreements to deepen and expand cooperation in a wide range of areas. These agreements were signed in the presence of Indian Prime Minister Narendra Modi and Kenyan President Uhuru Kenyatta in Nairobi. PM Narendra ..

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Union Cabinet approves pact for avoidance of double taxation with Belgium

June 23, 2016

The Union Cabinet has given its approval to the signing of a Protocol amending the Agreement between India and Belgium for avoidance of double taxation. Decision in this regard was taken in the Union Cabinet meeting under the chairmanship of ..

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PM Narendra Modi outlines RAPID, five-point mantra to reform and broaden tax net

June 18, 2016

Prime Minister Narendra Modi has outline RAPID, five-point mantra to tax officials to reform and broaden the direct tax net base. The new five point charter for tax administrators RAPID means R for Revenue, A for Accountability, P for Probity, ..

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India signs up to Europe-led clampdown on tax evasion and corruption

June 10, 2016

India has joined a group of nearly 40 countries that have signed a Europe-led clampdown on tax evasion and corruption. Under this group countries are committed to automatically exchange information on beneficial ownership between law enforcement agencies and tax authorities ..

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India, Slovenia amend DTAA to bring information exchange under ambit

May 20, 2016

India and Slovenia have signed a protocol to amend the bilateral Double Taxation Avoidance Agreement (DTAA). The protocol was signed by Ambassador of India to Slovenia Sarvajit Chakravarti and the Slovenian Minister of Finance Dusan Mramor in Ljubljana. Key facts ..

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IT department launches e-nivaran portal to fast track taxpayers grievances

May 18, 2016

The Income Tax (IT) department has launched electronic grievance redressal system ‘e-nivaran’ to fast track taxpayer grievances and ensure early resolution of their complaints. In this regard, a separate and dedicated window for grievance redressal has been launched in the ..

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