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Taxmen allowed to waive or reduce interest due from assessee with riders

The income tax department has allowed tax officials to either waive or reduce interest payable by a taxpayer, subject to specified conditions. Illustration: Dominic Xavier/Rediff.com Under the......

ITR filing deadline for corporates extended by 15 days to Nov 15

The income tax department on Saturday extended the deadline for filing income tax returns by corporates by 15 days till November 15 for assessment year 2024-25. Illustration: Dominic......

Govt tweaks GST rules for claiming input tax credit

GST taxpayers will be required to reverse by November 30 the input tax credit (ITC) claimed in the last fiscal in case their suppliers fail to deposit the due tax by September 30, the finance......

ED allowed to share information about economic offenders with 15 more agencies

The government has allowed the Enforcement Directorate to share information about economic offenders with 15 more agencies, including SFIO, CCI and NIA, a move that will expedite nailing of......

Rationalisation in long-term capital gains tax structure on the anvil

The finance ministry is looking at rationalising long-term capital gains tax structure by bringing parity between similar asset classes and revising the base year for computing indexation benefit......

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