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BCCI bear tax burden

BCCI bear tax burden :The Board of Control for Cricket in India (BCCI) in the recent ICC quarterly meeting was told by the world body to get tax exemption for conducting future global events like the 2021 T20 World Cup and 2023 ODI World Cup. If BCCI fails to get the exemption, it will have

HC grants interim stay

HC grants interim stay on pleas of Chidambaram, family on IT notice

Chennai, Nov 17, HC grants interim stay on pleas of Chidambaram, family on IT notice : The Madras High Court today granted interim stay on petitions filed by former Union minister P Chidambaram and his family seeking quashing of a notice issued under the Income Tax Act for reopening of the assessment for the year

Punjab Government refuses to withdraw hike in road tax for state truckers as delegation meet Secretary  Transport

Daily Post Correspondent, Patiala, September 14. Punjab Government refuses to withdraw hike in road tax for state truckers as delegation meet Secretary  Transport. The Punjab government on Thursday has flatly refused to withdraw hike effected in road tax in the state. This has been disclosed by the President All Punjab Truck Operator Union Punjab Happy Sandhu. A

Income Tax dept identifies 5.56 lakh more people in operation clean money

The Income Tax Department on Friday came out with the second list of 5.56 lakh account holders who will be asked to explain the high cash deposits, found inconsistent with their tax profiles, made during the note ban. “The Income Tax Department has used information received under the Statement of Financial Transactions (SFT) to identify

Gift to employees up to Rs.50,000 to get out of GST

The Finance Ministry has announced to keep the gifts received from employees from private companies out of the purview of GST. Gift to employees up to 50,000 rupees per year will now be out of GST.Gift employees.The Finance Ministry said on Monday, “Companies can give their employees a price of up to Rs 50,000 per

Is it really tax-free in the UAE?

Yes it is – but only in certain circumstances!  Otherwise there are times when you will have to face tax, and there are plenty of top tips that you need to know about taxation in Dubai if you’re thinking of going to live and work in the emirate.Dubai is a shining star in the Middle

Most Kolkata shops observe trade strike over GST procedures

Most Kolkata shops observe trade strike over GST procedures

Most Kolkata shops observe trade strike over GST procedures.Most of the shops and retail establishments remained closed in the city on Friday following a day’s strike called by the Bhartiya Udyog Vyapar Mandal (BUVM) against the procedures and provisions of the Goods and Services Tax (GST).Many shops in Burrabazar, one of Asia’s biggest wholesale market,

GST: May be 5 years in prison due to neglect

New Delhi:The Modi government has announced the implementation of GST from July 1,after which the new tax law will be enforced in the country.In this case, if you steal or fraud you can be punished for five years. The government is going to pass more laws related to GST.According to the GST Act, you will

GST taxpayers will soon have a helpline.

GST taxpayers will soon have a helpline as Network will launch two call centers on Sunday to handle queries from taxpayers and tax officials.It will handle the huge traffic of invoices and turnover details of companies.The call center will be employing over 200 trained professionals, and the number will increase to 400 with time. GSTN

Tax evasion shows AAP’s moral degradation: Cong

Chandigarh: Latest controversy involving AAP, which now stands accused of tax evasion, shows moral degradation and the deep-rooted criminal mindset prevailing across the rank of party, said Punjab Congress. Pointing out that this was only the latest in a spate of scandals in which Aam Aadmi Party (AAP) had been caught ahead of Punjab Assembly

Trump admits benefiting from ‘unfair’ tax laws

Washington: Republican presidential nominee Donald Trump has admitted greatly benefiting from “unfair” US tax laws, saying that he used them “brilliantly” to his advantage, but promising to change them if he becomes the President.”The unfairness of the tax laws is unbelievable, it’s something I’ve been talking about for a long time, despite frankly being a

We want ‘Pink’ to be tax free: Shoojit Sircar

Mumbai: Filmmaker Shoojit Sircar is extremely proud of “Pink” and wants the film to be exempt from entertainment tax. “We want it to be tax free. People have been asking us to make it tax free. I think we are on the verge of making it tax free,” Sircar said at a press conference. This

Seminar conducted on Goods and Services Tax

Ludhiana: A very informative seminar on Goods and Services Tax 2016 was organised by the Ludhiana Branch of Northern India Regional Council of the Institute of Chartered Accountants of India at CA. S.S. Periwal Auditorium, ICAI Bhawan, Ludhiana. CA. Keshav Garg was the guest speaker on the occasion. The event started and a welcome address was

US warns EU ahead of Apple tax evasion ruling

Washington/London: As Brussels is slated to deliver a verdict next month on Apple and other US companies for evading billions of pounds in taxes, the US Treasury Department has warned the European Commission (EU) about taking such action. In a white paper commissioned by US Treasury secretary Jack Lew, the Obama administration warned that Brussels

Facebook may face extra $5 bn tax bill

London: Social media giant Facebook may be liable to pay $3 to $5 billion in extra tax after AUS Internal Revenue Service (IRS) investigated the way the company transferred assets to Ireland. IRS has been exploring how the tech company transferred assets to Ireland and whether it deliberately tried to minimise the tax it paid

Lionel Messi, father sentenced for tax fraud by Spanish court

Barcelona: A Spanish court on Wednesday sentenced FC Barcelona’s Argentine football star Lionel Messi and his father to a prison term for tax fraud committed between 2007 and 2009. The Barcelona Provincial Court ruled that Messi and his father, Jorge Messi, had committed three counts of tax fraud that were punishable with 21 months (one

Jat stir: Har govt exempts persons whose vehicles were damaged from tax on new ones

Chandigarh: Haryana Government today exempted those persons whose vehicles were completely damaged during the Jat agitation from payment of tax on registration of a similar type of new vehicle. This exemption will be granted on verification by the concerned Deputy Commissioner or an officer authorised by him, subject to certain conditions, an official release said