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Tag Archives: tax

Hit by a ransomware attack in US? Your payment may be tax deductible | World News

As ransomware attacks surge, the FBI is doubling down on its guidance to affected businesses: Don’t pay the cybercriminals. But the US government also offers a little-noticed incentive for those who do pay: The ransoms may be tax deductible. The IRS offers no formal guidance on ransomware payments, but multiple tax experts interviewed by The Associated Press said deductions are ...

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The G7 deal on minimum corporate tax is flawed

The global minimum corporate tax rate has been variously described as ‘historic’, ‘landmark,’ and a ‘gamechanger’. According to the United States (US) and G7 countries, subjecting companies to a minimum tax rate on a country-by-country basis will end the “race to the bottom” on corporate tax rates, and disincentivise base erosion and profit-shifting (BEPS) practices. But, the proposal is not ...

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Finance Minister Nirmala Sitharaman calls for written representations on issues, glitches with new Income Tax portal | Latest News India

Ahead of the proposed meeting between senior officials of the ministry of finance and Infosys on June 22, Union minister of finance (FM) Nirmala Sitharaman on Wednesday invited written representations regarding the issues and glitches with the new Income Tax Portal. She also shared the email address to which the issues should be addressed. Written representations are invited regarding the ...

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Finance Minister Nirmala Sitharaman calls for written representations on issues, glitches with new Income Tax portal | Latest News India

Ahead of the proposed meeting between senior officials of the ministry of finance and Infosys on June 22, Union minister of finance (FM) Nirmala Sitharaman on Wednesday invited written representations regarding the issues and glitches with the new Income Tax Portal. She also shared the email address to which the issues should be addressed. Written representations are invited regarding the ...

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Net Direct Tax collections in 2021-22 grown at over 100% despite Covid-19 pandemic: Ministry of finance | Latest News India

The Union ministry of finance on Wednesday said that the net direct tax collections for the financial year 2021-2022 stood at ₹1,85,871 crore as of June 15. The figures, the ministry said, showed an increase of 100.4% over the collections of the same period in the previous year, which was ₹92,762 crore. In a statement announcing the figures on Wednesday ...

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T20 World Cup: Sourav Ganguly reaches Mumbai to discuss tax exemption issue ahead of deadline | Cricket

The Board of Control for Cricket in India (BCCI) President Sourav Ganguly has reached Mumbai as the Indian board gears up for an all-important meeting to discuss the issue of tax exemption for the upcoming ICC T20 World Cup that is set to be hosted by India in October-November. The BCCI is needed to give a tax guarantee to the ...

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Karanataka minister Bommai hails tax cut on Covid goods | Latest News India

Bengaluru: Karnataka home minister Basavaraj Bommai welcomed the recommendations of the Group of Ministers (GoM) to reduce taxes on Covid-19 medicines and said it would ease pressure on people suffering from the virus as taxes on several items have been reduced By HT Correspondent PUBLISHED ON JUN 13, 2021 12:15 AM IST Bengaluru: Karnataka home minister Basavaraj Bommai welcomed the ...

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Tax cut announced for Black Fungus medicine at GST council meet | Latest News India

Finance minister Sitharaman announces tax cut on mucormycosis medicine, other Covid essentials at GST Council meet Finance minister Nirmala Sitharaman after the GST Council meet on Saturday announced that mucormycosis medicine Amphotericin B will not be charged any tax. GST Council: Covid-19 vaccines to carry 5% tax rate, says finance minister She said that the GST Council has decided also ...

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‘Regret initial glitches’: Nanadan Nilekani responds to Sitharaman on new tax website | Latest News India

Infosys co-founder Nandan Nilekani on Wednesday responded to finance minister Nirmala Sitharaman after she asked the IT company to fix technical glitches being encountered on the income tax department’s new e-filing website. In a post on Twitter, Nilekani said that the company “regrets these initial glitches” and assured that the system will stabilise in a few days. “The new e-filing ...

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G7 leaders strike deal to tax Google, Amazon and other tech giants

The United States, Britain and other large, rich nations reached a landmark deal on Saturday to squeeze more money out of multinational companies such as Amazon and Google and reduce their incentive to shift profits to low-tax offshore havens. Hundreds of billions of dollars could flow into the coffers of governments left cash-strapped by the coronavirus disease (Covid-19) pandemic after ...

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