Ontario: First town to pay taxes with Bitcoins

The Ontario town can launched a pilot program in which the local residents can pay their taxes in crypto currency. Reidents of Ohio, USA were the first to to pay taxes in Bitcoins. The Candian citizens in Ontario will pay ..

Sanjeev Sharma head of CBDT panel to help bring down tax litigation]

The Central Board of Direct Taxes (CBDT) has formed a four-member committee to look into the matter of taxation related pain points and submit its final report and recommendations by mid-March 2019. Its recommendations could include applying a filter for ..

Sudhir Mungantiwar convenor of newly constituted Group of Ministers (GoM) to look at issues related to lottery under GST

In pursuance of decision in the 32nd Meeting of GST Council held on 10th January 2019 at New Delhi, a Group of Ministers (GoM) on issues relating to lottery has been constituted. The ministerial panel headed by Maharashtra Finance Minister ..

India and China sign protocol to Double Taxation Avoidance Agreement to prevent tax evasion

India and China have signed protocol to amend Double Taxation Avoidance Agreement (DTAA) for the avoidance of double taxation and for prevention of fiscal evasion with respect to taxes on income by allowing exchange of information. Under Section 90 of ..

Month: Current Affairs - November, 2018

Sanjay Kumar Mishra given charge of Enforcement Directorate (ED) director for three months

Sanjay Kumar Mishra, a 1984-batch Indian Revenue Service (IRS) officer of the Income Tax cadre, has been appointed as the principal special director in the central probe agency and entrusted with the “additional” charge of Enforcement Directorate (ED) director for ..

Sushil Modi to head Group of Ministers to examine modalities for ‘calamity tax’ under GST

The Government of India (GoI) has recently constituted a 7-member ministerial panel headed by Bihar Deputy Chief Minister Sushil Modi to examine modalities for revenue mobilisation in case of natural calamities and disasters. The panel would submit its report to ..

Central Board of Indirect Taxes and Customs (CBIC) launches ‘GST Verify’ app to protect interest of consumers

The Central Board of Indirect Taxes and Customs (CBIC) has launched a mobile app ‘GST Verify’ to protect interest of consumers. It is an android app to verify if the person collecting GST from the consumer is eligible to collect ..

S Ramesh appointed as new chairman of Central Board of Indirect taxes and Customs (CBIC)

S Ramesh has been appointed as the new chairman of Central Board of Indirect taxes and Customs (CBIC). He will succeed Vanaja N. Sarna on July 1. The CBIC is the apex body for administering the levy and collection of ..

State Finance Commissions

The state finance commissions were added by 73rd amendment act. They have been enshrined in article 243-I and 243-Y in Part IX A and IX B. They are constituted by Governor every five years. Primary concern is to suggest ways ..

Property Tax in India

The term ‘property’ stands for tangible real estate owned by a person. It includes houses, office places, rented out properties etc. Taxes are the primary source of income of the government and they determine the kind and amount of resources ..