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Income Tax department busts racket that helps tax evaders

New Delhi, Nov. 14 -- The Income Tax department said on Thursday it has unearthed bogus transactions to the extent of Rs.735 crore in searches and surveys held in Mumbai and Surat earlier this month. ... Read More


Businesses to get more time to file GST annual returns

New Delhi, Nov. 14 -- The government on Thursday extended the due date for filing the Goods and Services Tax (GST) annual return and the audit report for the first two years and simplified the forms t... Read More


Anti-money laundering rules amended to make Aadhaar use easier

New Delhi, Nov. 13 -- The government on Wednesday amended the anti-money laundering rules to allow people to use Aadhaar for identification and yet use an address different from the one given in Aadha... Read More


India, Switzerland agree to work closely to unearth black money

New Delhi, Nov. 13 -- India and Switzerland on Wednesday decided to work more closely on unearthing black money, an official statement from the finance ministry said here. The ministry said after a m... Read More


Options before RBI as inflation firms up, economy teeters

New Delhi, Nov. 13 -- As India, Asia's third largest economy heads for a winter of deep economic downturn, the prolonged monsoon season that played havoc with farm output and pushed up retail inflatio... Read More


MSME suppliers want better settlement of dues when investors rescue companies

New Delhi, Nov. 13 -- Micro, small and medium enterprises (SMEs), which supply materials and services to larger companies and are their operational creditors, seek a better settlement of dues when new... Read More


28 developing nations back India on OECD tax proposal

New Delhi, Nov. 12 -- A group of 28 developing nations has backed India's opposition to a set of new global rules for taxing tech giants being brokered by the Organisation for Economic Cooperation and... Read More


Businesses allowed self-assessment for claiming GST credits

New Delhi, Nov. 11 -- The government has allowed businesses to do self-assessment while claiming credits for the Goods and Services Tax (GST) paid on raw materials and services in cases where their su... Read More


IT department surveys onion traders in Maharashtra amid worries of hoarding

New Delhi, Nov. 11 -- Income Tax department is conducting survey on several onion traders on Monday at a time when prices of the politically sensitive commodity have soared in the country triggering c... Read More


Bankruptcy watchdog proposes online data bank of stressed assets for investors

New Delhi, Nov. 11 -- The Insolvency and Bankruptcy Board of India (IBBI) has proposed to the government to set up an online repository of stressed assets for the benefit of investors looking at strik... Read More