22
Thursday
February 2018
12:17 AM IST
News Headlines
Home   | Main News   | Kerala  | National   | International  | Business   | Sports   | Entertainment   | Columns   | Offbeat   | About Deepika 
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.


Weak demand, global cues soften gold
Indian IT Likely To See 7-9% Growth In FY19, May Hire 1 Lakh New Techies
Rupee falls 31 paise against US dollar in opening trade
Tata Steel emerges as the highest bidder for Bhushan Steel with a surprise bid of Rs 35,000 crore
Debt-laden Aircel to file for bankruptcy at NCLT
Gold slips on fall in demand, global cues
PNB fraud: Nirav Modi, Mehul Choksi's passport suspended; 50 more firms to be raided
Rupee gains 6 paise against dollar in opening trade
Sensex rises 196 pts, Nifty reclaims 10,600-mark
Re gains 14 P to trade at 2-week high in opening trade
Uber CEO aims to pare losses and get 'the love back'
Jewellery stocks take a hit after PNB fraud
Sensex rises over 200 points, Nifty near 10600
Trump slams India for high import tariffs on Harley-Davidson
PM woos investors at Oman-India business meeting
Sensex sheds 144 pts in late sell-off; bank stocks sink
Rupee gains 19 paise against dollar in opening trade
Sensex recovers 260 points, Nifty above 10,500-mark
Sensex drops below 34K, Nifty loses over 1.5% amid global fall
Rupee drops 13 paise against dollar at 64.39
KERALA NEWS
Love-jihad: Want to remain Muslim, stay with husband, says Hadiya
 (Feb 21, 2018): A Kerala-based woman, who is alleged to be a victim of love jihad, has told t  
'S Durga' cleared by CBFC without any cuts
Man jumps before lion at Thiruvananthapuram zoo
UDF members boycott peace meet at Kannur
INTERNATIONAL NEWS
Trump backs ban on 'bump stocks' on semi-automatic weapons
 (New York, Feb 21, 2018): Faced with an outpouring of grief and anger over a deadly school sh
Death toll crosses 200 as Syria regime pounds rebel enclave, sends fighters to face Turkey
Japan plan to build world's tallest wooden skyscraper
Nepal's two Communist parties decide to merge
NATIONAL NEWS
IRS officer held on molestation charge by his student
 (Patna, Feb 21, 2018): A senior government official was arrested here today for allegedly mol
Not much political space for Haasan's party in TN: Moily
SC allows Centre to withdraw force from Darjeeling hills
CBI begins questioning of Rotomac owner Kothari
Untitled Page
Rashtra Deepika LTD
Copyright @ 2017 , Rashtra Deepika Ltd.