Sep 17 (IANS) Aiming decriminalisation of offences, the Central Board of Direct Taxes (CBDT) on Saturday issued revised guidelines for compounding of offences under the Income Tax Act, 1961 with reference to various offences covered under its prosecution provisions. Some of the major changes made for the benefit of taxpayers include making the offence punishable under Section 276 of the Act ...

Following uproar in social media that the Good s and services tax (GST) rolled out on July 1, 2017 was against the interests of temple trusts as taxes them heavily while obliterating the presence of Waqf Boards and Churches, the government has clarified that there is no such religious bais in GST. “There are some messages going around in the ...