Union Finance Minister Nirmala Sitharaman. (Photo: Reuters) In a bid to meet ambitious tax target, the finance ministry on Friday held a review meeting with tax officials directing them to make special efforts to identify and book tax evaders through data analytics and information sharing. The meeting chaired by Revenue Secretary Ajay Bhushan Pandey. He was accompanied by the Goods …
NEW DELHI: Withdrawing a cumulative ₹10 lakh a year can attract 3-5 per cent tax if a proposal going around in the Finance Ministry takes shape in the Budget to track high value cash deals and make digital payments mandatory. In its push towards a digital economy, the central government is thinking of introducing a tax of 3-5 per cent on cash withdrawal …
NEW DELHI: Withdrawing a cumulative ₹10 lakh a year can attract 3-5 per cent tax if a proposal going around in the Finance Ministry takes shape in the Budget to track high value cash deals and make digital payments mandatory. In its push towards a digital economy, the central government is thinking of introducing a tax of 3-5 per cent on cash withdrawal …
New Zealand has announced plans to introduce a tourist tax and increase other fees for international visitors to fund infrastructure development in the face of a tourist boom. Tourism numbers in the country of 4.5 million have surged by nearly a third in the past three years to 3.8 million in April this year. “This rapid growth has impacted the …
Income tax department issued notices to thousands of cryptocurrency users HIGHLIGHTS Cryptocurrency market believes that government is going a bit too far Recently, Japan & China cracked down against cryptocurrencies South Korea is considering shutting down its virtual currency exchanges From finance ministry to Reserve Bank of India (RBI) to income tax (I-T) authorities, almost every regulator of any significance …
Currently, there is no income tax slab for income between Rs. 10 lakh and Rs. 20 lakh HIGHLIGHTS Government reportedly contemplating to hike personal tax exemption limit Slabs should be enhanced for benefit of low income group: industry body Move to help tide over impact of increasing retail inflation, adds CII New Delhi: The country’s middle class can hope for …
In an effort to attract big spenders and curb “falafel-eating” tourists, who spend most of their holiday loitering around the red-light district, Amsterdam’s city officials are considering a tourist tax hike that could make visits to the Dutch capital more expensive. Currently, visitors pay 5% of their room rate in the city centre, which is expected to rise to 6% next …
India’s economy is largely dependent on its earning population; a large percentage of the salaried people in India fall into the middle-class category. This section of the population is the one that is most affected whenever there is a change in the government policies. Right from the time when the GST was announced by the Central Government of India up …
In the world of international education, whether you’re a small business owner or the finance officer at a large organisation, the subject is made even more irksome with the added burden of navigating international sales tax. But as tax policies constantly change and international study offices are increasingly being asked to act like multinational companies, it’s important to talk about …
The UK government has published draft legislation for a tax on sugar-sweetened drinks, which is set to begin from April 2018. There will be two bands – one for soft drinks with more than 5g of sugar per 100ml and a higher one for drinks with more than 8g per 100ml. Ministers hope it will help tackle the nation’s obesity …