Jet Airways chairman Naresh Goyal has denied any evading of tax payment. This is after a notice to him from the income tax (I-T) department, seeking details of his foreign bank accounts. Goyal is

Pay healthy advance tax, but can't make up for large companies' volumes. The India story may have hit a rough patch, but the picture is not dark all around. At least the advance tax collections for

The previous article in this column had discussed briefly the Communication on the future of VAT in the EU ('Communication'), recently adopted by the European Commission ('EC'), and the need for India

According to the Income Tax Act, relatives are on a par with Hindu Undivided Family leading to such exemptions. Gifts are always special to the recipient and it would be extra-special if there is no

Barely four months are left for the financial year to end and the government has reached only the halfway mark of its tax revenue collection target. After admitting to possible slippages in its fiscal

Financial advisor Anil Mehra inaugurated his franchise of a sweet shop chain, Sweet Bengal, in Mumbai two weeks earlier. He believes his first business venture will earn him around 30 per cent

Advance tax collection from the country's top 100 companies, according to the final numbers, declined by 1.4 per cent to Rs 30,763 crore in the third quarter of 2011-12, indicating sluggishness in the

A tax break for 160 million U.S. workers was in doubt on Monday in the face of strong opposition from Republicans in the House of Representatives who have rejected a two-month extension overwhelmingly

But, govt plans to bring some provisions that can't wait. The Direct Taxes Code (DTC), which will replace the Income Tax Act, 1961, is unlikely to be implemented from the next financial year as

There will be tax incidence on a number of things such as cars, jewellery and paintings. Though most of us tend to focus on income-tax, there is another direct tax all of us are subject to -- the