Accountants or merchant bankers furnishing incorrect information to face penalty.  Income of the Chief Minister’s Relief Fund and the Lieutenant Governor’s Relief Fund to be exempt from tax. Concessional tax rate of 10 per cent

GST to spur growth, competitiveness, and greater transparency in economy. The Union Minister of Finance and Corporate Affairs Arun Jaitley said that India has witnessed historic and impactful economic reforms and policy making in the

The Central Government notified the rates approved by GST Council on Fertilizers under the Central Goods and Services Tax Act (CGST) Act, Union territory Goods and Services Tax (UTGST) Act and the Integrated Goods and

In a bid to widen the tax base, the Finance Minister Arun Jaitley, while pronouncing the Union Budget 2018 introduced a provision mandating Permanent Account Number (PAN) for all the financial transactions over Two lakh

The Finance Ministry, on Friday said that small exporters are not required to furnish bank guarantee for shipping goods and services. The decision comes a day after exporters met Finance Minister Arun Jaitley for resolution

The Taxation Laws (Second Amendment) Bill, 2016 has been introduced by the Finance Minister Arun Jaitley before the Parliament on Monday. The Bill proposes 30 per cent tax on undisclosed income plus 10 per cent

The Union Minister of Finance and Corporate Affairs Shri Arun Jaitley said that despite subdued global economic growth, India’s growth remains impressive and one of the best in the world during the last three years. He

From July 1st onwards, leasing of land, renting of buildings as well as EMIs paid for purchase of under-construction houses will attract the Goods and Services Tax, the new indirect tax regime. Sale of land

Central Government in recent past to Unearth Black Money will help in curbing corruption and making the Indian economy more cleaner, transparent and efficient, says Finance Minister Arun Jaitley. The Union Finance Minister Arun Jaitley

In a major relief to overseas investors, the Union Finance Minister Arun Jaitley proposed exemption to Category I & II Foreign Portfolio Investor (FPI) from indirect transfer provision. Indirect transfer provision shall not apply in

Finance Minister Arun Jaitley is likely to present India’s first post-GST and the current government’s last full Budget on February 1 next year. After the introduction of new tax regime, the people of our nation

The Finance Minister Arun Jaitley has approved the controlling stake of the Central Government and state government in the Goods and Service Tax Network ( GSTN ). The Government likely to increase the stake in

The Government has assured complete confidentiality to those declaring their income under the Income Declaration Scheme 2016. Addressing a press conference in Mumbai today, the Revenue Secretary, Government of India Shri Hasmukh Adhia said “no

The 32nd GST Council meeting held at New Delhi has allowed the Kerala Government to impose 1 percent cess on intra-State sales. The disaster cess is a special tax to raise additional resources aimed at

The Union Cabinet chaired by the Prime Minister Narendra Modi has approved the setting up of the 15th Finance Commission. Under Article 280 (1) of the Constitution,it is a Constitutional obligation. The Terms of Reference