Corporate Tax

Life Insurance Corporation of India (LIC) on Tuesday said tax authorities have slapped a demand notice of about Rs 178 crore on it for short payment of Goods and Services Tax (GST) for two financial years.

While she initially thought of social media influencing as a profitable venture, she later found it to be more taxing than rewarding.

US President Joe Biden called for higher taxes on corporations Thursday in his State of the Union address, while pushing for lower medicine costs and improved housing affordability, as he sought to allay concerns over the economy.

More than Rs 42 crore in cash was found hidden in 22 boxes under a bed at a house in Bengaluru late last night. The cash was recovered following Income Tax raids on a former woman corporator and her husband.

The net direct tax collection increased by 21.82 per cent to over Rs 9.57 lakh crore till October 9, helped by good inflow from corporates and individuals, the Finance Ministry said on Tuesday.

The GST Council on Saturday clarified that guarantees provided by corporates to their subsidiaries will attract an 18 per cent GST, while no tax will be levied if a personal guarantee is given by a director to the company.

The wreckage of the Pepsu Roadways Transport Corporation (PRTC) bus was found 300 meters down from the green tax barrier of the Allo (potato) ground in the middle of the Beas river in Manali on Saturday.

Higher advance tax collection helped net direct tax kitty swell 11 per cent to Rs 3.80 lakh crore so far this fiscal, a reflection of economic activity gaining traction.

Swiss voters looked set to approve proposals to introduce a global minimum tax on businesses and a climate law that aims to cut fossil fuel use and reach zero emissions by 2050, projections by public broadcaster SRF showed on Sunday.

EU competition regulators appealed to the bloc's highest court on Tuesday to override a lower tribunal and make Apple pay a record EUR 13 billion ($14.3 billion or roughly Rs. 1,18,450 crore) in Irish back taxes. The case, which has far-reaching implications for corporate tax bills, is the most high-profile of EU antitrust chief Margrethe Vestager'...

Municipal Corporation of Delhi (MCD) Mayor Shelly Oberoi today suspended MCD's Chief Assessor and Collector Kunal Kashyap who is an accused in an alleged case of house tax evasion, the official said.

A special vigilance court here on Monday sentenced a former tax collector of the Berhampur Municipal Corporation (then municipality) to two years of imprisonment for taking a bribe of Rs 1,000 from a person seven years ago.

Toll for vehicles on the Mumbai-Pune Expressway, the first access-controlled road of the country, will increase by 18 per cent from April 1, officials of the Maharashtra State Road Development Corporation (MSRDC) said.

Gwalior Municipal Corporation (GMC) on Friday seized a buffalo belonging to a dairy operator for defaulting in payment of water tax.

The British government has strongly defended the BBC and its editorial freedom in Parliament after the Income-Tax department's survey operations on the UK-headquartered media corporation's New Delhi and Mumbai offices over three days last week.

Life Insurance Corporation of India (LIC) on Tuesday said tax authorities have slapped a demand notice of about Rs 178 crore on it for short payment of Goods and Services Tax (GST) for two financial years.

While she initially thought of social media influencing as a profitable venture, she later found it to be more taxing than rewarding.

US President Joe Biden called for higher taxes on corporations Thursday in his State of the Union address, while pushing for lower medicine costs and improved housing affordability, as he sought to allay concerns over the economy.

More than Rs 42 crore in cash was found hidden in 22 boxes under a bed at a house in Bengaluru late last night. The cash was recovered following Income Tax raids on a former woman corporator and her husband.

The net direct tax collection increased by 21.82 per cent to over Rs 9.57 lakh crore till October 9, helped by good inflow from corporates and individuals, the Finance Ministry said on Tuesday.

The GST Council on Saturday clarified that guarantees provided by corporates to their subsidiaries will attract an 18 per cent GST, while no tax will be levied if a personal guarantee is given by a director to the company.

The wreckage of the Pepsu Roadways Transport Corporation (PRTC) bus was found 300 meters down from the green tax barrier of the Allo (potato) ground in the middle of the Beas river in Manali on Saturday.

Higher advance tax collection helped net direct tax kitty swell 11 per cent to Rs 3.80 lakh crore so far this fiscal, a reflection of economic activity gaining traction.

Swiss voters looked set to approve proposals to introduce a global minimum tax on businesses and a climate law that aims to cut fossil fuel use and reach zero emissions by 2050, projections by public broadcaster SRF showed on Sunday.

EU competition regulators appealed to the bloc's highest court on Tuesday to override a lower tribunal and make Apple pay a record EUR 13 billion ($14.3 billion or roughly Rs. 1,18,450 crore) in Irish back taxes. The case, which has far-reaching implications for corporate tax bills, is the most high-profile of EU antitrust chief Margrethe Vestager'...

Municipal Corporation of Delhi (MCD) Mayor Shelly Oberoi today suspended MCD's Chief Assessor and Collector Kunal Kashyap who is an accused in an alleged case of house tax evasion, the official said.

A special vigilance court here on Monday sentenced a former tax collector of the Berhampur Municipal Corporation (then municipality) to two years of imprisonment for taking a bribe of Rs 1,000 from a person seven years ago.

Toll for vehicles on the Mumbai-Pune Expressway, the first access-controlled road of the country, will increase by 18 per cent from April 1, officials of the Maharashtra State Road Development Corporation (MSRDC) said.

Gwalior Municipal Corporation (GMC) on Friday seized a buffalo belonging to a dairy operator for defaulting in payment of water tax.

The British government has strongly defended the BBC and its editorial freedom in Parliament after the Income-Tax department's survey operations on the UK-headquartered media corporation's New Delhi and Mumbai offices over three days last week.