M Padmakshan

  • I-T dept revises direct tax mop-up target again

    I-T dept revises direct tax mop-up target again

    The country's direct tax regime has set a target of Rs 4,00,000 crore for the current fiscal year (FY10), just Rs 5,000 crore more than the revised target of Rs 3,95,000 for the previous year.

    Jethmalani plans PIL to force govt to act on tax havens

    Jethmalani plans PIL to force govt to act on tax havens

    Noted jurist and former Union minister Ram Jethmalani said he would file a public interest litigation soon to persuade the government to take steps to bring back Indian money stashed away in various tax havens across the world.

    Indian wealth stashed away in tax havens takes political turn

    Indian wealth stashed away in tax havens takes political turn

    Three major political parties, Communist Party Marxist (CPM), Bhartiya Janata Party (BJP) and Janata Dal (United), have promised to take steps to bring back the large sums of money that have been stashed away by Indians in tax havens.

    E*Trade Mauritius too gets call for capital gains tax

    E*Trade Mauritius too gets call for capital gains tax

    Buoyed by a favourable Supreme Court order in the Vodafone tax case, the income-tax department has asked E*Trade Mauritius to pay capital gains tax on the sale of its shares held in Indian company IL&FS Investsmart to HSBC in September 2008.

    Eli Lilly India gets SC relief in TDS case

    Eli Lilly India gets SC relief in TDS case

    It is now clear that tax has to be deducted from salaries of expats working in India even in cases where salaries were paid abroad, after the apex court judgement in the case of Dutch pharma company Eli Lilly.

    I-T dept moves court over ITAT's Marico directive

    I-T dept moves court over ITAT's Marico directive

    The Income-Tax department is at loggerheads with the Income Tax Appellate Tribunal (ITAT), the ultimate fact-finding body on tax disputes, over the latter’s demand for verifying the reasons for conducting a raid on FMCG major Marico Industries.

    SBI largest tax payer; L&T pays big too

    SBI largest tax payer; L&T pays big too

    State Bank of India has turned out to be the largest tax payer in the country with a tax outgo of Rs 5,733 crore for the fiscal year ending March 31, 2009.

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