Free Press Journal
  • US: President Donald Trump to slap tariffs on $200 billion worth of Chinese goods

    Washington: US President Donald Trump has escalated his trade war with China, saying his administration would impose tariffs on $200 billion worth of goods and was also prepared to tax all imports. Trump, in a statement released late Monday, showed no sign of backing down from the type of full-blown trade war between the world’s two largest economies that has rattled financial markets, saying he was prepared to “immediately” place tariffs on

  • Indore: SGST department kick-starts drive to check corrupt trade practices

    The state goods and service tax (SGST) department has launched a check drive to prevent corrupt trade practices. Under the drive, the officials will check three things at business establishments. They include underpaid tax, more draw of input tax credit and mismatch between stock and supply. The department will take penal action against the defaulters.

  • PM Narendra Modi hails decision to raise monetary limits for tax litigation

    New Delhi: Prime Minister Narendra Modi on Thursday hailed the government’s decision to reduce tax dispute litigation by not filing any appeals except in high-value cases. He said the decision was in line with his government’s belief of trusting the citizens.

  • How To Use Home Loan To Save Taxes

    The Axis bank home loan and many other loan holders have got a new benefit under which those who take personal and HUF loan loans will get a discount of Rs 2 lakh on the interest of home loan under Section 24, earlier this was 1.5 lakh rupees.

  • Delhi High Court rejects Centre’s plea against Vodafone’s international arbitrations

    New Delhi: The Delhi High Court today dismissed the Centre’s plea challenging Vodafone’s move to initiate two international arbitrations against India in connection with a tax demand of Rs 11,000 crore under a retrospective law of 2012.  Justice Manmohan said the Centre can approach the UK arbitration tribunal under the India-United Kingdom Bilateral Investment Protection Agreement (BIPA) for its grievance.

  • Maharashtra, Devendra Fadnavis, Maharashra CM, SC verdict, Supreme Court, Justice Loya death case

    Congress slams Devendra Fadnavis govt over dip in professional tax haul   

    Mumbai: The Opposition Congress has said a fall in professional tax collection shows the BJP-led government in Maharashtra has failed to address the issue of rising unemployment in the state. Professional tax collection figure shows employment status in the organised sector and a drop in its accumulation indicates lack of new formal sector jobs, Maharashtra Pradesh Congress Committee (MPCC) spokesman Sachin Sawant said.

  • Do you know the full name and nickname of GST or have you even wondered whether GST have a nickname too

    The Goods and Services Tax (GST), certainly being a favorite to become India’s biggest tax reform since Independence, was rolled out on 1st of July 2017, conceived on the principle of ‘one nation, one tax, one market’, promising to be an effective tax system that subsumes 17 central and state levies. The movement of goods had now become much simpler across the country and cheaper as the new regime had replaced the old system,

  • Are you aware about the GST Rate Finder App Launched : If Not Then You Are At The Right Place

    For any business to conduct its operations in a GST compliant fashion, it is important to be aware of the HSN / SAC codes of the goods and services that it deals in, and also the corresponding GST rates. Given the extensive list of goods and services which have been classified as taxable supplies under GST, it may not be feasible for a business, at least in the transition phase, to operate by committing

  • Bhopal: BMC promise to reward taxpayer turns out to be hollow

    Bhopal: Promises are made to be broken, goes the adage and the civic body here is following it in letter and spirit. The Bhopal Municipal Corporation has forgotten to felicitate the residents who were promised to be rewarded for paying advance tax between April and August 2017.

  • Indore: I-T focuses on salary break-up to trace tax evasion

    Indore: The income tax department has made it mandatory for salaried class people to mention salary break-up in their income tax returns. The exercise is aimed to know whether allowances and perquisites are taxable and whether the tax has been paid if they are taxable. Similarly, businessmen will be required to furnish the information in ITR-3 and 4.

  • Plea in Delhi HC against Aadhaar requirement for e-filing tax returns

    New Delhi: The Delhi Court today sought the Centre’s and tax authority CBDT’s response on a plea opposing the requirement of quoting Aadhaar number or linking it with PAN in e-filing tax returns. The issue was raised before a bench of justices S Ravindra Bhat and A K Chawla by two lawyers, one of them a senior advocate, whose income tax returns were not accepted by the e-filing portal of the Income Tax

  • Do it now! Sometime later becomes never

    People postpone buying term insurance until they are married or have kids. Buying term insurance early protects your loved ones from any financial liabilities that your unfortunate passing will bring on them. Do you feel you should start saving for retirement? How about buying a term insurance cover now? Are you matching your Tax Saving targets? If the answers to all these questions are positive, you are one of the smarter investors

  • GST Council likely to simplify tax returns

    New Delhi: The Goods and Services (GST) Council in its 26th meeting on Saturday is likely to simplify tax returns, sources from Ministry of Finance told ANI. The council, chaired by Finance Minister Arun Jaitley is also expected to discuss the extension of 3B returns, and the current position of revenue generated from GST.

  • indore, madhya pradesh, Ajay Kumar chouhan, tax, indore region, IT

    Indore: ‘Dept has list of crony defaulters, strict action on anvil’

    Indore: Urging countrymen to pay tax voluntarily, chief commissioner of income tax Indore region, Ajay Kumar Chouhan warned tax evaders that “I-T department has identified crony defaulters with the help of credential data mining and will be compelled to take tough action against the ones who are not paying the tax willingly.”

  • A Guide to GST Registration

    The basic composition of GST stands on the foundation of the registration system, for it is a registered person who is liable to pay tax and who is eligible to avail the benefits of the input tax credit mechanism. A registered person can also collect GST from his recipients. An unregistered person is not taxed and is also kept outside the input tax credit mechanism. The GST law gives a limited option

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