Cairn sues Air India in US to recover $1.2 billion retro tax award against govt – Times of India

Cairn sues Air India in US to recover $1.2 billion retro tax award against govt - Times of India

NEW DELHI: Scottish explorer Cairn Energy Plc has sued loss-making Air India in a US court to force recovery of a $1.2 billion international arbitration award it won in December against the Indian government’s retrospective tax claim, a move that could bog down disinvestment of the state-run national carrier. Cairn filed the lawsuit in the … Read more

Biden Tax Rule Would Rip Billions From Big Fortunes At Death

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The Amazon.com Inc. founder’s heirs may have to pay more than $36 billion. Jeff Bezos has an ex-wife, a girlfriend, four children and billions of reasons to watch whether Joe Biden’s tax overhaul wins congressional approval. The Amazon.com Inc. founder’s heirs may have to pay more than $36 billion if the president succeeds in closing … Read more

Colombia’s president withdraws tax reform after protests – Times of India

Colombia's president withdraws tax reform after protests - Times of India

People celebrate at Bolivar square after Colombia’s President Ivan Duque withdrew a government-proposed tax reform in Bogota, Colombia. AP Photo BOGOTA: Colombian President Ivan Duque said on Sunday he would withdraw a proposed tax reform after deadly protests and widespread lawmaker opposition, though he insisted a reform is still necessary to ensure fiscal stability. Protests … Read more

Centre waives late fee for delayed filing of March, April GSTR-3B, tax payment – Times of India

Centre waives late fee for delayed filing of March, April GSTR-3B, tax payment - Times of India

NEW DELHI: The government has waived late fee on delayed filing of monthly return GSTR-3B and tax payment for the months of March and April and also cut interest rate for late filers. Taxpayers with a turnover of over Rs 5 crore have been given 15 days extra time to file monthly summary return GSTR-3B … Read more

Govt Waves Late Fee for GSTR-3B, Tax Return Dates Extended Due to COVID-19

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Image used for representation. Taxpayers with a turnover of over Rs 5 crore have been given 15 days extra time to file monthly summary return GSTR-3B and pay taxes without paying any late fees. PTI Last Updated:May 02, 2021, 11:36 IST FOLLOW US ON: The government has waived late fee on delayed filing of monthly … Read more

Govt extends timelines for tax compliance, ITR for FY20 can be filed till May 31 – Times of India

Govt extends timelines for tax compliance, ITR for FY20 can be filed till May 31 - Times of India

NEW DELHI: The government on Saturday extended timelines for various income tax compliances, including the filing of belated or revised return for the 2019-20 fiscal, till May 31. The Central Board of Direct Taxes (CBDT) said it had received representations from various stakeholders for relaxation on compliance requirements. “In view of the adverse circumstances arising … Read more

Tax dollars to help defend woman accused of drowning son

Tax dollars to help defend woman accused of drowning son

Taxpayer dollars will help cover the defense costs for a Florida woman charged with first-degree murder in the drowning death of her autistic 9-year-old son. Miami-Dade Circuit Judge Daryl Trawick ruled in an order released Thursday that Patricia Ripley, 46, is indigent for certain costs that include depositions, private investigators and experts who specialize in … Read more

Joe Biden Unveils Plan To Reverse Donald Trump’s Tax Cuts For Rich

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The spending plan will need approval by a deeply divided Congress. (File) Washington: President Joe Biden will call for reversing his predecessor Donald Trump’s tax cuts for the wealthy to pay for a huge middle class families spending program, senior administration officials said Wednesday. Biden will use his speech to a joint session of Congress … Read more

No plan to introduce income tax in Saudi Arabia: Crown prince Salman – Times of India

No plan to introduce income tax in Saudi Arabia: Crown prince Salman - Times of India

Saudi Crown Prince Mohammed Bin Salman speaks during televised interview in Riyadh, Saudi Arabia. DUBAI: Saudi Arabia‘s Crown Prince Mohammed bin Salman said in televised remarks on Tuesday that the kingdom had no plans to introduce income tax and a decision last July to triple value-added tax to 15% was temporary. The kingdom had tripled … Read more

India’s tax revenue below potential by about 4% of GDP: NK Singh – Times of India

India's tax revenue below potential by about 4% of GDP: NK Singh - Times of India

The 15th finance commission report had highlighted that the actual tax collections during last ten years was 4% less than what was budgeted. (Representative image) NEW DELHI: The 15th finance commission chairman NK Singh on Friday said India’s tax revenue potential is lower by 4 per cent of GDP and the country needs to bring … Read more

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