The Central Board of Direct Taxes (CBDT) has announced to relax norms around levy of minimum alternate tax (MAT) for insolvent companies from financial year 2017-18. The purpose...
Income Tax (IT) Department under the Union Finance Ministry has launched an on-line chat service on its national website www.incometaxindia.gov.in with a prominent icon stating ‘Live Chat Online-...
Saudi Arabia and United Arab Emirates (UAE) became first countries of Gulf Cooperation Council (GCC) to introduce Value Added Tax (VAT) for the first time to increase their...
India has signed agreement with Switzerland for automatic sharing of tax-related information from January 1, 2018 with an aim to combat black money. Prior to it, India had...
Assessed Value refers to the assessment of the property for its monetary worth for the purpose of taxation. This price is known as its assessed value. The assessment...
The Central Board of Direct Taxes (CBDT) has entered into 2 Bilateral Advance Pricing Agreements (APAs) in November 2017. These two agreements are first ever Bilateral APAs with...
The Appointments Committee of the Cabinet (ACC) has appointed senior bureaucrat Badri Narain Sharma as Chairman of National Anti-Profiteering Authority (NAA) under Goods and Services Tax (GST) regime....
The Union Cabinet approved signing and ratifying of Agreement between India and Philippines on co-operation and mutual assistance in customs matters. The agreement will help in availability of...
The Union Finance Ministry has constituted task force to review Income Tax (IT) Act 1961 and draft new direct tax law in consonance with current economic needs. CBDT...
The Union Cabinet approved protocol amending Agreement between India and Kyrgyz for avoidance of double taxation and prevention of fiscal evasion with respect to taxes on income. The...
