In an effort to scale back litigation, the Earnings Tax Division on Friday introduced e-Dispute Decision Scheme (e-DRS). “That is one other initiative by the federal government in direction of minimising litigation,” the Division stated in a press release. As per e-DRS, a taxpayer can go for the scheme in opposition to the ‘specified order’ … Read more
Finance Ministry asserted on Wednesday that the Price range 2024 proposal to get rid of the indexation profit for property gross sales was not a “revenue-raising measure” and that the brand new capital good points tax regime won’t result in the next tax burden on actual property transactions. Quite the opposite, the brand new regime … Read more
The Centre proposes to provide you with a revised complete Direct Taxes Code for stakeholder consultations throughout the subsequent six months, Income Secretary Sanjay Malhotra stated on Thursday. Addressing FICCI’s interactive session on Finances 2024-25 within the Capital, Malhotra stated that the federal government is working in the direction of a complete assessment of the … Read more
With the due date approaching, companies brace for a flurry of present trigger notices from GST officers for the Fiscal Yr 2018-19 concerning any doable shortfall in tax cost. Part 73 of GST Act offers with the willpower of tax not paid, or short-paid, or erroneously refunded, or enter tax credit score wrongly availed or … Read more