- 20 Feb 1712:55 PMGold jewellery displayed at a shop in Delhi. Photo: ReutersCash purchases of jewellery will attract one per cent tax collected at source (TCS) from April 1 if the amount exceeds Rs 2 lakh, as against the current threshold of Rs 5 lakh.10:03 AMRetirement fund body EPFO is expected to launch online facility for settlement of claims, including EPF withdrawal and pension fixation, by May this year to put an end to tedious paper work by its members.
- 02 Feb 1704:04 AMIn a significant move to check black money, Income Tax (I-T) Department can now scrutinise I-T returns of previous 10 years if any search leads them to undisclosed deposits or property of over Rs 50 lakh.01:55 AMAs a process for reforming the international tax system and discourage international tax avoidance, the Organisation of Economic Cooperation and Development (OECD), in 2013, released a 15-point action plan, known as the BEPS Project.
- 01 Feb 1711:50 PMPhoto: ShutterstockThe Budget gave relief to on personal income tax front, mainly the salaried group in the middle class, by halving the tax to five per cent up to the income of Rs 5 lakh to ease the pains of demonetisation.02:20 PMIn a move to push digital payments, the government on Wednesday removed all duties on devices used in the process of cashless transactions like point of sales machines, finger print readers etc.12:45 PMCorporate tax will be reduced to 25 per cent for companies with revenues of less than Rs 50 crore a year, Finance Minister Arun Jaitley announced on Wednesday.
- 31 Jan 1702:50 AMWants TDS to be cut from 10% to 2%, and applied on commission earned, not on gross invoice valueThe staffing industry, representing companies such as Team Lease and Quess, wants finance minister Arun Jaitley to resolve the tax anomalies it faces, in the02:50 AMFinance Minister Arun Jaitley will on Wednesday present his fourth and perhaps the most challenging Budget that may look to soften blow of currency ban with tax and other sops as he seeks to revive growth.
- 27 Jan 1702:05 PMPhoto: ShutterstockInvestors are bracing for higher taxes and fewer incentives from the government's annual Budget on February 1 as the focus shifts to wringing out revenues to finance giveaways and higher public investment.02:30 AMRepresentative imageAs the finance minister gears up to present the Union Budget for the new financial year, Business Standard scans the 2016-17 Budget speech for a status check on key announcements made by Finance Minister Arun Jaitley last year