Tax authorities News

The tax authorities will now relay audit reports of corporates and specific information from their I-T returns as also PAN data to the ministry of corporate affairs, as the government plans to crack down harder on shell companies.

Banks will be accepting the first installments of tax payments under the  Income Disclosure Scheme 2016 with creating any hassle for the declarant or seek any source of funds.

The Finnish telecom firm, however, wants the fresh demand to be included in the ongoing negotiations between India and Finland to resolve the Rs 2,000-crore tax dispute.

The Central Board of Direct Taxes has extended the window for filing roll-back applications under the Advance Pricing Agreement relating to transfer pricing cases by three months to June 30.

Surprised by tax claims on its investments in scam-tainted Satyam Computers, Mahindra Group Chairman Anand Mahindra said he had not anticipated that the Group will be battling Indian government and tax authorities in court for its own money.

SpiceJet said all but three of its 52 aircraft was operational and that it was fully compliant with safety rules.