-PTI/ The Hindu Chief Election Commissioner suggests a slew of amendments to RP Act to increase transparency and accountability on part of candidate The Election Commission has proposed reducing anonymous political donations to ₹2,000 from ₹20,000 and cap cash donations at 20% or at a maximum of ₹20 crore to cleanse election funding of black money, sources said on Monday. Chief Election Commissioner (CEC) Rajiv Kumar has written a letter to Union Law...
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Pharma Company Distributed Rs 1,000 Crore Freebies to Prescribe Dolo 650 Mg Tablets, SC Told
-TheWire.in The petition alleged that to ensure a higher profit margin, the company manufacturing Dolo tablets distributed freebies to doctors to prescribe the 650 mg drug. New Delhi: The Supreme Court Thursday, August 18 was told by an NGO that the Central Board of Direct Taxes (CBDT) has accused the pharma company manufacturing paracetamol drug ‘Dolo’ of distributing Rs 1,000 crore freebies to doctors for prescribing a dosage of its 650 mg...
More »Corporate tax assessment: CAG spots major errors in over 350 cases
-The Hindu Business Line Suggests CBDT to create a foolproof IT system, internal control mechanism The Comptroller and Auditor General of India (CAG) has pointed out significant errors in the assessment of over 350 cases related to corporate tax. It also advised the Central Board of Direct Taxes (CBDT) to put in place a foolproof IT system and internal control mechanism to avoid such recurrences. In a report tabled in Parliament, the apex...
More »Contribution to Patanjali Research Foundation to get tax exemption -Shishir Sinha
-The Hindu Business Line Central Government approved the Baba Ramdev-owned entity under the category ‘Research Association’ The Income Tax Department has notified five years exemption for Patanjali Research Foundation Trust, based in Haridwar (Uttarakhand). “The Central Government hereby approves M/s Patanjali Research Foundation Trust, Haridwar under the category ‘Research Association’ for Scientific Research for the purposes of clauses (ii) of sub-section (1) of section 35 of the Income-tax Act, 1961 read with rules...
More »Govt cuts import duty on crude palm oil to lower retail edible oil prices
-PTI/ The Hindu Currently, basic customs duty on crude palm oil is 15%, while it is 45% for all other categories of palmolein. The government on Tuesday reduced basic customs duty on crude palm oil to 10%, which will help bring down the edible oil prices in the retail market. The Central Board of Indirect Taxes and Customs (CBIC) in a notification cut the basic customs duty on crude palm oil to 10%...
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