tax authorities

SC frowns on delay in income tax department appeals (Lead)


September 17th, 2012 - 11:22 pm ICT by IANS
New Delhi, Sep 17 (IANS) The Supreme Court Monday asked the government to streamline the Income Tax (I-T) Department's working to check delays in challenging adverse verdicts related to tax ... Read more...

Posted in Business |

UEFA embargo for Malaga and Atletico Madrid


September 12th, 2012 - 12:18 pm ICT by IANS
Madrid, Sep 12 (IANS) European soccer body UEFA has announced an embargo on Spanish clubs Atletico Madrid and Malaga while it investigates their debts towards employees, with other clubs and ... Read more...

Posted in Sports |

UEFA withholds prize money for 23 clubs


September 11th, 2012 - 9:40 pm ICT by IANS
Moscow, Sep 11 (IANS/RIA Novosti) Rubin Kazan, Atletico Madrid and 21 other football clubs involved in UEFA competition this season saw the payment of their prize money temporarily withheld, the ... Read more...

Posted in Sports |

Business elite must pay their taxes: Pakistani daily


August 25th, 2012 - 1:07 pm ICT by IANS
Islamabad, Aug 25 (IANS) Pakistan's business elite "need to show some remorse" and pay their taxes, said a leading daily Saturday.An editorial in the Dawn said that for "all the ... Read more...

Posted in South Asia |

Hoping service tax target will be exceeded: Mukherjee


June 20th, 2012 - 9:20 pm ICT by IANS
New Delhi, June 20 (IANS) Finance Minister Pranab Mukherjee said Wednesday service tax collections surged by 40 percent in the first two months of the current financial year and ... Read more...

Posted in Business |

Panel set up on international taxation


May 3rd, 2012 - 6:54 pm ICT by IANS
New Delhi, May 3 (IANS) A 13-member panel was set up Thursday to advise on international taxation and transfer pricing in the backdrop of the controversial proposed retrospective amendments ... Read more...

Posted in Business |

Vodafone was told about tax liability in Hutchison deal


May 2nd, 2012 - 6:52 pm ICT by IANS
New Delhi, May 2 (IANS) The Indian government Wednesday said Vodafone Plc was duly informed about its tax liability in the $11.2 billion acquisition of Hutchison's stake in Hutchison-Essar ... Read more...

Posted in Business |

Tax law change may yield Rs.40,000 crore: Government


April 24th, 2012 - 7:42 pm ICT by IANS
New Delhi, April 24 (IANS) The proposed retrospective changes in the income tax law that seeks to bring overseas transactions involving Indian assets into the tax net is likely ... Read more...

Posted in Business |

Proposed tax law change ‘clarificatory’, says Pranab


April 20th, 2012 - 7:40 pm ICT by IANS
Washington, April 20 (IANS) Amid growing criticism from various quarters over the proposed retrospective changes in the tax law, Finance Minister Pranab Mukherjee has said that changes in the ... Read more...

Posted in Business |

India reaffirms its stand on tax law changes (Lead)


April 20th, 2012 - 7:07 pm ICT by IANS
Washington, April 20 (IANS) India has reasserted its position regarding some retrospective amendments in Indian tax laws saying it was not a case of double taxation, but intended to ... Read more...

Posted in World |

Tax law change ’scaring’ overseas investors: Karan Bilimoria (Interview)


April 15th, 2012 - 4:46 pm ICT by IANS
New Delhi, April 15 (IANS) The Indian government's move to amend a law retrospectively to tax global merger and acquisition transactions involving Indian assets is "scaring" foreign investors and ... Read more...

Posted in Business |

Government detects Rs.13,620 crore tax evasion


April 10th, 2012 - 9:10 pm ICT by IANS
New Delhi, April 10 (IANS) The tax authorities detected evasion of Rs.13,620 crore in excise and service taxes in the first 11 months of fiscal 2011-12, the finance ministry said ... Read more...

Posted in Business |

P-notes holders will not be taxed: Mukherjee


March 30th, 2012 - 3:53 pm ICT by IANS
New Delhi, March 30 (IANS) Trying to soothe the nerves of overseas investors, Finance Minister Pranab Mukherjee Friday said holders of Participatory Notes (P-notes) derivatives through which foreign nationals ... Read more...

Posted in Business |

Kingfisher cancels 11 flights


March 12th, 2012 - 5:25 pm ICT by IANS
Mumbai, March 12 (IANS) Crisis-stricken Kingfisher Airlines Monday cancelled 11 flights from Mumbai after many of its pilots failed to report for work, officials said."Some of the flights are being ... Read more...

Posted in Business |

Panel proposes hiking income tax exemption limit to Rs.3 lakh


March 9th, 2012 - 8:36 pm ICT by IANS
New Delhi, March 9 (IANS) A parliamentary panel reviewing the Direct Taxes Code (DTC) bill has recommended raising the income tax exemption limit to Rs.3 lakh a year and ... Read more...

Posted in Uncategorized |

IATA suspends Kingfisher from two more inter-airline transaction systems (Lead)


March 9th, 2012 - 6:23 pm ICT by IANS
New Delhi/Mumbai, March 9 (IANS) After suspending cash-strapped Kingfisher Airlines from its inter-airline transaction body, the International Air Transport Association (IATA) Friday barred the carrier from the billing and cargo ... Read more...

Posted in Business |

Kingfisher Airlines makes alternate booking arrangements


March 9th, 2012 - 3:11 pm ICT by IANS
New Delhi/Mumbai, March 9 (IANS) Cash-strapped Kingfisher Airlines Friday said that it has made alternate arrangements for selling its tickets after it was suspended from inter-airline transaction body International ... Read more...

Posted in Business |

IATA suspends Kingfisher from inter-airline transaction system (Third Lead)


March 7th, 2012 - 10:27 pm ICT by IANS
New Delhi/Mumbai, March 7 (IANS) In yet another big blow to Kingfisher Airlines, a leading international association Wednesday suspended the carrier from its inter-airline transaction body for failure in settling ... Read more...

Posted in Business |

Travel agents barred from ticketing for Kingfisher (Second Lead)


March 7th, 2012 - 9:11 pm ICT by IANS
New Delhi/Mumbai, March 7 (IANS) In yet another big blow to Kingfisher Airlines, travel agents were asked by a leading international association Wednesday to immediately stop booking tickets on the ... Read more...

Posted in Business |

Kingfisher’s scrip falls four percent


March 5th, 2012 - 3:50 pm ICT by IANS
Mumbai, March 5 (IANS) Cash-strapped Kingfisher Airlines' scrip fell 4.36 percent in the early hour of trade at the Bombay Stock Exchange (BSE) at Rs.23 as the company's accounts remained ... Read more...

Posted in Business |

Kingfisher Airlines denies shutdown rumours (Lead)


March 4th, 2012 - 7:59 pm ICT by IANS
New Delhi/Mumbai, March 4 (IANS) Cash-strapped Kingfisher Airlines Sunday refuted speculation that it planned to shut down its operations as a section of pilots have threatened to boycott work without ... Read more...

Posted in Business |

Apex court dismisses lawyer’s petition in Vodafone case (Lead)


March 2nd, 2012 - 7:23 pm ICT by IANS
New Delhi, March 2 (IANS) The Supreme Court Friday dismissed as "irresponsible and scandalous" a petition by advocate M.L. Sharma that alleged conflict of interest over the apex court's verdict ... Read more...

Posted in Business |

Maradona in Italy tax row


February 16th, 2012 - 12:18 pm ICT by IANS
Rome, Feb 16 (IANS/EFE) Soccer icon Diego Armando Maradona, who enjoyed some of his best years while playing for Napoli, says he has no plans to visit Italy again until ... Read more...

Posted in Sports |

India Inc cries foul over new IT order


January 25th, 2012 - 9:16 pm ICT by IANS
Mumbai, Jan 25 (IANS) The corporate world Wednesday expressed "serious concerns" over the directive of the Central Board of Direct Taxes to the Income Tax Department to visit the premises ... Read more...

Posted in Business |

India’s apex court saves Vodafone $2.2-bn tax burden (Roundup)


January 20th, 2012 - 8:15 pm ICT by IANS
New Delhi, Jan 20 (IANS) In a verdict which India Inc. says enhances the country's image among global investors, the Supreme Court Friday dismissed a hotly-opposed tax demand of $2.2 ... Read more...

Posted in Business |

Vodafone welcomes apex court’s decision in tax case


January 20th, 2012 - 7:17 pm ICT by IANS
New Delhi, Jan 20 (IANS) Telecom major Vodafone welcomed the Supreme Court's dismissal Friday of the Income Tax department's Rs.11,218 crore ($2.2 billion) tax claim on the company."Vodafone Group has ... Read more...

Posted in Sci-Tech |

Vodafone needn’t pay tax for Hutch acquisition: Supreme Court


January 20th, 2012 - 3:30 pm ICT by IANS
New Delhi, Jan 20 (IANS) The Supreme Court Friday set aside the Bombay High Court order directing Vodafone to pay a tax of Rs.11,218 crore ($2.5 billion) for acquiring the ... Read more...

Posted in Uncategorized |

Kejriwal letter insulting to PM’s office, says Congress


November 4th, 2011 - 12:55 am ICT by IANS
New Delhi, Nov 3 (IANS) The Congress Thursday termed as "insulting" Team Anna member Arvind Kejriwal's writing to Prime Minister Manmohan Singh and enclosing a cheque regarding a service ... Read more...

Posted in Politics |

NRI body seeks relief on US penalties on foreign accounts


September 16th, 2011 - 10:14 am ICT by IANS
Washington, Sep 16 (IANS) A US based organisation of people of Indian origin has sought help from a leading lawmaker in getting relief on penalties under US tax rules ... Read more...

Posted in Business |

India, Uruguay sign tax avoidance treaty


September 8th, 2011 - 8:25 pm ICT by IANS
New Delhi, Sep 8 (IANS) India and Uruguay Thursday signed a Double Taxation Avoidance Agreement that would help boost the flow of trade, investment and technology between the two countries.The ... Read more...

Posted in Business |

India, Georgia sign double tax avoidance treaty


August 24th, 2011 - 8:30 pm ICT by IANS
New Delhi, Aug 24 (IANS) India Wednesday signed a tax treaty with the former Soviet republic of Georgia that would help track black money and boost bilateral trade and investments."The ... Read more...

Posted in Business |

US sticks to stand on disclosure of foreign accounts


August 21st, 2011 - 9:27 am ICT by IANS
Washington, Aug 21 (IANS) Sticking to its stand of not extending the Aug 31 deadline for disclosure of foreign accounts, US tax authorities said those who believe they have not ... Read more...

Posted in Business |

I-T authorities can dissect any takeover deal: Apex court


August 4th, 2011 - 9:50 pm ICT by IANS
New Delhi, Aug 4 (IANS) The Supreme Court Thursday said income-tax (I-T) authorities can go behind a deal to ascertain whether it is a genuine and legal transaction or something ... Read more...

Posted in Business |

Nothing colourable in takeover, Vodafone tells apex court (Lead)


August 3rd, 2011 - 11:29 pm ICT by IANS
New Delhi, Aug 3 (IANS) The Supreme Court Wednesday was told that there was nothing colourable in telecom giant Vodafone's transaction with Hutchinson International Ltd. for acquiring its Indian arm ... Read more...

Posted in Business |

Nothing colourable in takeover, Vodafone tells apex court


August 3rd, 2011 - 10:22 pm ICT by IANS
New Delhi, July 3 (IANS) The Supreme Court Wednesday was told that there was nothing colourable in telecom giant Vodafone's transaction with Hutchinson International Ltd. for acquiring its Indian arm ... Read more...

Posted in Uncategorized |

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