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Wednesday
May 2018
10:10 PM IST
News Headlines
Anti-Sterlite protest: 11 killed in police firing in Thoothukudi        No charges for cancelling flight tickets within 24 hours of booking: Aviation Ministry proposal        Gowda says he is not opposed to Shivakumar being made minister        For the first time in 226, woman to lead the NYSE        Now, it's India vs Pakistan over Kishanganga project at World Bank        Afghanistan blast: 16 killed, 38 wounded in southern Kandahar province        SBI Q4 loss at Rs 7,718 crore as NPA provisions jump        Faf du Plessis shines as CSK beat SRH to enter seventh final        Emery set to succeed Wenger as Arsenal boss - reports        Venezuelan Prez Nicolas Maduro wins re-election        Plea In Supreme Court Seeks Review Of Verdict In Judge Loya Death Case        BJP now down to 272 Lok Sabha seats from 2014 tally of 282        Modalities of Government Formation in Karnataka Finalised, Says HD Kumaraswamy        PNB fraud: ED attaches Nirav Modi’s properties worth Rs 171 cr        CSK and SRH lock horns in Qualifier 1 for spot in IPL 2018 final        Belgium leave out Nainggolan for World Cup        Presence of Nipah virus confirmed in Kerala        Hirokazu Kore-eda's 'Shoplifters' wins Palme d'Or at Cannes        Cuba: 110 died in plane crash, 3 survivors 'critical'        Delhi knock Mumbai out with a thrilling 11-run win        
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Business News
'Govt consolidated direct tax reforms; net widens to 8 cr'
 
New Delhi, Feb 6 (PTI) A large number of taxpayers have been brought into the net taking the total base to 8 crore, CBDT chairman Sushil Chandra said today, underlining that the government has consolidated direct tax reforms.

Chandra also said that no I-T official can pick up a case on his discretion and only 0.5 per cent of all cases are picked up for scrutiny by the Income Tax Department.

"In direct taxes, lots of reforms have been done and we have consolidated direct tax reforms... Taxpayers net has gone up. We have added large number of taxpayers. Our taxpayers' base is now 8 crore," he said at an event organised by industry body Assocham.

Noting that the I-T department is cutting down interface between taxman and assesses, Chandra said: "Your cases can't be picked up by the I-T official by his or her discretion. As the CBDT Chairman, even I can't pick up any case using discretion."

He also said that the tax department started e-assessment of income tax forms in September 2017 and 60,000 cases have been completed through e-assessment so far.

Out of 15 lakh companies registered with MCA, only 7 lakh are filing tax return forms, Chandra said.

Central Board of Excise and Customs (CBEC) Vanaja N Sarna said that in Union Budget 2018-19, the government increased customs duty on 45 items and reduced custom duty on 5 items.

"This was a good time to do it, because all these items can be manufactured wonderfully in India... Most of items related to MSME," she said.


SBI Q4 loss at Rs 7,718 crore as NPA provisions jump
PNB fraud: ED attaches Nirav Modi’s properties worth Rs 171 cr
Sohan Roy features in Top 100 Indian Business Owners by Forbes Middle East
NITI welcomes $16 bn Walmart-Flipkart deal
Bajaj Finserv offers repayment flexibility on home loan
Walmart to acquire 77% stake in Flipkart
Most Indian millennials ready to switch jobs for a pay rise: Report
Monetise Air India assets rather than selling stake: SJM to govt
With Fuel Prices Hitting the Roof, Govt Asks Oil Companies Not to Increase Rates: Report
PM Modi flags off Indian Railways' first high speed electric locomotive in Bihar
Axis Bank stock rises 4% after Shikha Sharma's tenure shortened
It's for RBI to decide on Chanda Kochhar's term at ICICI Bank: Finmin
Crisis-hit Deutsche Bank pushes out British CEO
Highlights of RBI monetary policy
Honda India Recalls Activa 125cc, Grazia and Aviator Scooters
Ratnagiri refinery: Pradhan says open to offer majority stake to Aramco
Telcos' pre-tax losses widen to Rs 38,153 cr in 2016-17
India to be ready with 5G roadmap by June: Tel Secy
Sensex, Nifty turn choppy on weak global cues
Facebook says sorry for data breach scandal in British newspaper ads
KERALA NEWS
Kerala among 13 states on thunderstorm alert
 (New Delhi, May 7, 2018): Thunderstorms accompanied by squall, hail and heavy rains are likel  
Kerala Karshaka Jadha Opens to a Great Beginning / Video
Malappuram press club attack: RSS workers nabbed
Workers injured in mudslide at construction site
INTERNATIONAL NEWS
For the first time in 226, woman to lead the NYSE
 (New York, May 22, 2018):The New York Stock Exchange for the first time in its 226-year histo
Now, it's India vs Pakistan over Kishanganga project at World Bank
Afghanistan blast: 16 killed, 38 wounded in southern Kandahar province
Venezuelan Prez Nicolas Maduro wins re-election
NATIONAL NEWS
No charges for cancelling flight tickets within 24 hours of booking: Aviation Ministry proposal
 (New Delhi, May 22, 2018):In a comforting piece of news for air passengers, the government on
Gowda says he is not opposed to Shivakumar being made minister
Plea In Supreme Court Seeks Review Of Verdict In Judge Loya Death Case
BJP now down to 272 Lok Sabha seats from 2014 tally of 282
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