Income tax surveys to be conducted only by investigation wing, TDS directorate: CBDT

New Delhi, Aug 13 (PTI) The income tax surveys to collect information for scrutiny assessment will be undertaken only by the investigation wing and the tax deducted at source (TDS) directorate with effect from Thursday, the Central Board of Direct Taxes (CBDT) has said. In an I-T survey, tax officers visit business premises of the taxpayer to gather More...

by Manisha Sen | Published 13 hours ago
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By Manisha Sen On Thursday, August 13th, 2020
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Search and seizure, int’l tax cases out of faceless assessment ambit: CBDT

New Delhi, Aug 13 (PTI) All income tax cases picked up for scrutiny, except those relating to search and seizure as well as international tax charges, will be assessed under faceless assessment beginning Thursday, More...

By Manisha Sen On Thursday, August 13th, 2020
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Faceless scrutiny, appeals to ease taxpayers’ compliance burden, increase fairness in tax system: FM

New Delhi, Aug 13 (PTI) Finance Minister Nirmala Sitharaman on Thursday said the faceless tax scrutiny assessment and appeal would help ease compliance burden of taxpayers and increase fairness and objectivity in More...

By Manisha Sen On Wednesday, August 12th, 2020
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UK records deepest recession among top economies

LONDON (AP) — The British economy has recorded the deepest coronavirus-related slump among the world’s leading industrial economies after official figures on Wednesday showed it shrinking by a fifth in the second More...

By Manisha Sen On Tuesday, August 11th, 2020
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Inflation likely edged up in July on higher food prices

BENGALURU (Reuters) – India’s retail inflation edged up slightly in July due to higher food prices, remaining firmly above the RBI’s medium-term target of 4% for a 10th straight month, a Reuters poll showed. A More...

By Manisha Sen On Monday, August 10th, 2020
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WHO decries ‘vast global gap’ in funds needed to fight coronavirus

GENEVA (Reuters) – There is a “vast global gap” between funds needed to fight the coronavirus pandemic and funds committed, World Health Organization chief Tedros Adhanom Ghebreyesus said on Monday, and More...

By Manisha Sen On Sunday, August 9th, 2020
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Noteban, ‘faulty’ implementation of GST, lockdown ‘destroyed’ India’s economic structure: Rahul

New Delhi, Aug 9 (PTI) Congress leader Rahul Gandhi on Sunday alleged that the Modi government’s decision of demonetisation and its “faulty” implementation of GST and the lockdown have “destroyed” More...

By Manisha Sen On Sunday, August 9th, 2020
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Indians outlook to personal financial matters changes in COVID-19 aftermath: Survey

New Delhi, Aug 9 (PTI) A survey has showed that nearly 45 per cent of Indians polled are uncertain about economic recovery in the aftermath of COVID-19 and are bracing for at least a year of slow growth, which is More...

By Ila Choudhary On Monday, August 3rd, 2020
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Indian shares fall as virus cases surge; banks slip

BENGALURU (Reuters) – Indian shares fell on Monday, led by a decline in banking stocks, as the number of domestic coronavirus cases leapt by a record over the weekend and high-profile politicians tested positive. Temperature More...

By Ila Choudhary On Saturday, August 1st, 2020
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India’s June crude oil imports lowest in over five years; exports dip

(Reuters) – India’s crude oil imports fell in June to their lowest level since February 2015, while year-on-year refined product exports declined for the first time in almost a year, government data showed More...