-PTI The Income Tax department has decided to crack the whip on big companies and organisations that do not remit TDS money even after deducting it from their workers' salaries. The Central Board of Direct Taxes (CBDT), the controlling and administrative authority of the department, has asked all I-T ranges to identify such cases where revenue implication is large and initiate prosecution in competent courts. The action will be taken under Section 276B...
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Over 1,000 IAS officers fail to submit property returns
-PTI Over 1,000 IAS officers have failed to submit their immovable property returns (IPRs) to the government within the stipulated time frame this year. Of the total of 1,057 officers who did not submit their IPRs for 2012, a highest of 147 are from Uttar Pradesh cadre, 114 of Arunachal Pradesh-Goa-Mizoram-Union Territories (AGMUT), 100 of Manipur-Tripura, 96 of Jammu and Kashmir and 88 of Madhya Pradesh cadre among others, according to Department...
More »The taxman is watching, says FinMin-Remya Nair
-Live Mint Govt reiterates it will crack down hard on tax evaders, defends steps introduced in Finance Bill to check evasion The government on Tuesday reiterated its intention to crack down hard on tax evaders and defended some of the stringent provisions introduced in the Finance Bill last week to check evasion, including granting wider powers of arrest to taxmen and making certain offences non-bailable. Finance minister P. Chidambaram, in his budget speech...
More »Budget ‘pro-rich’, say NAC members-Ruhi Tewari
-The Indian Express Even as Finance Minister P Chidambaram’s Union Budget for 2013-14 is being touted as a ‘balanced’ budget, members of the Congress president Sonia Gandhi-led National Advisory Council (NAC) have criticised it for not having done enough for the social sector. They feel the budget, which comes just ahead of the Lok Sabha elections due next year, falls short on delivering to the less advantaged groups and is relatively...
More »The freebie nation-Sreelatha Menon
-The Business Standard The Union Budget shows the charitable instincts of the government continuing to overwhelm it - though some would call it part inefficiency and part helplessness. The exemptions given to citizens on the tax they ought to pay have been exceeding the Plan expenditure, and even the total fiscal deficit as it did in 2012-13. This has prompted criticism from the Left parties and activists, who view it as evidence...
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