Jersey scraps 'only husbands talk tax' rule
Wednesday, February 5, 2020, 4:28 PM
The island of Jersey has supported a proposal to scrap the 'only husbands talk tax' rule. Earlier, a married woman could only discuss her tax affairs with Revenue Jersey if her husband had notified the department. Younger partners in same-sex marriages and civil partnerships will have equal rights and responsibilities on tax.
TDS on MF dividends at 10%, clarifies government
Wednesday, February 5, 2020, 8:08 AM
The tax department on Tuesday clarified that the Budget proposal of 10 per cent TDS will be applicable only on dividend payment by mutual funds and not on gain arising out of redemption of units. Finance Minister Nirmala Sitharaman had in Budget 2020-21 scrapped dividend distribution tax (DDT) paid by companies and mutual funds on dividend paid to shareholders or unit holders.
Rs 241-crore GST evasion racket found by officials
Friday, December 27, 2019, 5:51 PM
The GST officials have busted a racket that involved fake invoicing worth Rs.1,600 crore and a subsequent Rs.241-crore tax evasion. Officials said that the accused's modus operandi entailed creating bogus firms and issuing fake invoices to generate and encash tax credits by exploiting a refund facility given by the government for inverted duty structure. The main accused has been arrested.