-The Hindu Business Line Because they are wealthier and have a lower population than northern States New Delhi: The southern States are less dependent on transfers from the Centre than many of their northern peers, but a cut in transfers could leave their fiscal situation precariously poised and upset some of their expenditure plans. That is exactly what they fear will happen when the 15th Finance Commission uses the 2011 population data —...
More »SEARCH RESULT
Total Matching Records found : 978
Centre close to cracking shell firm puzzle; panel decides 18 parameters -Shrimi Choudhary
-Business Standard The task force also highlighted that companies had been misused to channel unaccounted cash after demonetisation in November 2016 Mumbai: The government’s task force has arrived at a formula to define a ‘shell company’, a move critical for enforcement agencies to crack down on dubious entities exploiting the regulatory framework. According to sources, the task force has listed 18 key parameters, including beneficial ownership and the nature of business dealings, to...
More »In 5 years, 46% hike in base: Tax net widens as individuals fuel the surge -Aanchal Magazine & Anil Sasi
-The Indian Express While the total taxpayer base grew at an average rate of about 7.9 per cent a year, individual taxpayers recorded an average annual growth rate of 8.2 per cent in these five years, inching up from 94 per cent in AY 2011-12 to 94.9 per cent in AY 2016-17, according to official data. New Delhi: Even as the country’s total taxpayer base increased to 6.41 crore in assessment year...
More »Taxmen begin raids on hoarders of cash as Centre, RBI pump in notes -Sidhartha
-The Times of India NEW DELHI: Tax authorities have conducted 30-35 raids in Karnataka and parts of Andhra Pradesh as part of a drive to smoke out cash hoarders, even as the government and RBI moved to pump in funds into some of the states facing a currency crunch. In Bihar, for instance, Rs 800-900 crore has been pumped in through the ATM network with initial assessments suggesting that the shortage may...
More »What demonetisation did to tax collections -Aarati Krishnan
-The Hindu It has sharply lifted tax buoyancy and ushered many new return filers into the income tax net The argument about whether demonetisation was good or bad for the economy refuses to die down even a year after the event. Former RBI Governor Raghuram Rajan took potshots at it in a recent speech. While one can endlessly debate, with very little data, on whether the ban on high-value currency notes dealt a...
More »
