The government today said that tax arrears rose over 18 per cent to Rs 2.93 lakh crore as on March 31, 2010 against the year-ago period. The direct tax arrears grew over 16 per cent to Rs 2.48 lakh crore as on March 31, 2010 compared to Rs 2.13 lakh crore at the end of 2008-09, Minister of State for Finance S S Palanimanickam said in a written reply to Rajya Sabha.
Indian American owners of convenience stores have joined hands with the Coca-Cola company and the American Beverage Association against the proposed Federal soft drink taxes of an extra one-cent an ounce. A decision in this regard was taken at the Si
In a new service that is set to revolutionise the retail money payment sector in India, consumers will now be able to transfer money from their accounts to any other account in the country using their cellphones via the National Payment Corporation o
Government auditor the Comptroller and Auditor General of India has written to the Cabinet Secretary to ensure that no records from the office of the Commonwealth Games organising committee are removed till the audit is complete. The CAG, sources said, had written to the Cabinet Secretary in October to take steps to ensure that no damage was done to papers relating to award of contracts for the Games.
Brushing aside fears that it was sacrilegious to criticise established accounting standards in a room packed with hundreds of chartered accountants, Gautam Doshi, group managing director of Reliance-Anil Dhirubhai Ambani Group, decided it was time to turn the tables.
The Supreme Court has questioned the appointment P J Thomas as the Chief Vigilance Commissioner. Questioning the appointment the apex court said how Thomas would work as CVC since a chargesheet naming him is pending in a criminal case.
The Institute, while considering the difficulties being faced by overseas members in providing training to articled assistants has issued the revised guidelines and FAQs for training of articled assistant outside India. Please visit the links below f
Electric cars may become cheaper by up to Rs 1 lakh with manufacturers expected to pass on to the consumers the benefits of the Rs 95-crore incentive package extended by the Government to the industry. This subsidy will be applicable till 2011-12, after which it will be merged with the National Electric Vehicle (EV) Policy that is currently being formulated.
The Maharashtra Sales Tax department is taking steps to apply more caution while disposing of VAT refund applications following discovery of a major refund scam involving officers of the department and traders in Palghar recently. Speaking at an even
Income-Tax and Customs Departments are facing a nearly 50 per cent staff shortage at the senior levels. This was stated here on Saturday by the Revenue Secretary, Mr Sunil Mitra, on the sidelines of Fostering trade led growth: strategies and prepare
