Service Tax Amnesty Plan may Fetch about . 6,000 Cr
Courtesy : The Economic Times 16 January 2014
The first-of-its-kind amnesty scheme for service tax defaulters, which
ended last month, may result in realisation of about . 6,000 crore of
additional revenue for the government. The Voluntary Comp...
Courtesy : The Economic Times & TRU 26 November 2013
The finance ministry has relaxed conditions of the much touted amnesty scheme for service providers who had not paid their tax dues. As per the new norms, the department could consider waiver of penal...
Courtesy : The Economic Times, (Press Trust of India Mumbai) 15 November 2013
Asking service tax defaulters to take advantage of the amnesty scheme, finance minister P Chidambaram on Thursday said the government could not have come out with a better offer for them to come clean...
Petroleum minister M Veerappa Moily has urged finance minister P Chidambaram to rework the provisions of the Direct Taxes Code Bill, 2013, so that investors in oil and gas exploration continue to enjo...
It is redeeming that the finance ministry has finally come out with draft rules that software MNCs can follow in pricing their services while doing business with their parent or subsidiaries overseas....
Sleuths make first arrest of service tax defaulter
Courtesy : The Pioneer 06 August 2013
The first arrest of a service tax defaulter in the country has been made after government got the powers recently to crack the whip on evaders.
A courier company owner was arrested for allegedly ev...
During my 37-year-old career with Income Tax department, I moved from place to place, post to post. For me, every posting was a challenge, and at the same time an opportunity to deliver.
After my retirement as Chairman of Central Board of Direct Taxes, I was invited by various institutions and NGOs to deliver talks on tax matters. While advising taxpayers across sectors, I noticed, our vast salaried class including armed and paramilitary forces, pensioners or senior citizens, NRIs, professionals and small business establishments need the right guidance. Most taxpayers do comply with their tax obligations fully. Yet, they are not somehow relaxed and are burdened with anxieties. A large number of taxpayers are not even aware that getting tax refund on time is a basic right.
In one such meeting, a middle-aged man quizzed me why could not I give tax advice 24X7. For a moment, I had no answer. He then added that I should give tax solutions online so that he does not need to come from a remote place to attend my lecture. I thanked him for his suggestion.
For a while I was restless. Already I had got myself enrolled as a Member of the Bar Council of Delhi and as an Advocate of Delhi High Court Bar Association, thanks to my law degree from the University of Allahabad. Yet, I was not sure how I could help the vast majority of taxpayers who somehow maintain a safe distance from the taxmen. I then tossed the idea of creating a tax think-tank with some of my former colleagues and highly spirited individuals. All of us immediately agreed on one count: millions of Indian taxpayers expect to access tailor-made tax research materials and seek guidance from those who have been parts of the tax machinery for decades.
That is how CTAR was born. So, be a part of our passionate journey to explain tax laws and rules in simpler words. Just drop us a few lines on any query related to direct and indirect tax or FEMA. We are at your assistance. We also look forward to hearing your experiences while dealing with the system.
