Clipped from: https://www.thehindubusinessline.com/opinion/demonetisation-a-success/article35326808.ece?homepage=true With ED turning the screws, the game has just begun It is reported that the Enforcement Directorate (ED) has filed a charge sheet
Category: Income Tax
Quess Corp counters I-T dept, denies ‘concealing’ income of Rs 880 cr | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/quess-corp-counters-i-t-dept-denies-concealing-income-of-rs-880-cr-121071400682_1.html Manpower outsourcing company Quess Corp has denied concealing any income after the IT department claimed that it has revealed undisclosed income of around
Can an NRI continue investing in an existing PPF account? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/nri/invest/can-an-nri-continue-investing-in-an-existing-ppf-account/articleshow/84166223.cmsSynopsis Remember, any person who is a non-resident Indian cannot open a PPF account. NRI status disqualifies an individual from opening, operating and managing
Corporates, individuals challenge taxman’s move to dig out past assessments under old law – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/india/corporates-individuals-challenge-taxmans-move-to-dig-out-past-assessments-under-old-law/articleshow/84379632.cmsSynopsis Under the new law which came into effect from April 1, 2021, the revenue department, while reopening old accounts of a taxpayer, can
Income Tax Return filing: 5 benefits of filing ITR even if your income is not taxable – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/income-tax-return-filing-5-benefits-of-filing-itr-even-if-your-income-is-not-taxable/2289106/ There are many benefits pursuant to filing the tax return even if you earn below the taxable limit. Income-tax return is a key
A month into launch, glitches still mar new I-T portal; dept says engaged with developer – The Financial Express
Clipped from: https://www.financialexpress.com/money/income-tax/a-month-since-launch-glitches-continue-to-mar-i-t-portal-functioning/2287954/ The modification of master data of the taxpayer is having major issues and Form No. 3 (certificate of declaration) under Vivad se Vishwas
Over 24K responses filed under e-proceedings, 40K ITRs filed daily on new portal: CBDT – The Hindu
Clipped from: https://www.thehindu.com/business/over-24k-responses-filed-under-e-proceedings-40k-itrs-filed-daily-on-new-portal-cbdt/article35274817.ece It said presently, about 8-10 lakh people are logging into the new portal every day. As many as 24,781 responses have been received
Glitches continue to mar I-T portal functioning even after review: Report | Business Standard News
Clipped from: https://www.business-standard.com/article/current-affairs/glitches-continue-to-mar-i-t-portal-functioning-even-after-review-report-121071100201_1.html A month after its launch and two weeks after the finance minister reviewed its functioning, technical glitches continue to mar the functioning of
All you need to know about transfer of property to NRI children – The Economic Times
Clipped from: https://economictimes.indiatimes.com/nri/invest/all-you-need-to-know-about-transfer-of-property-to-nri-children/articleshow/84232351.cmsSynopsis For starters, any transfer of property to non-resident Indians (NRIs) and persons of Indian origin (PIOs) must comply with the Foreign Exchange Management
Income Tax searches on Ramky Group reveals huge tax evasion; ₹1,200 crore made up loss – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/national/income-tax-searches-on-ramky-group-reveals-huge-tax-evasion-1200-crore-made-up-loss/article35232998.ece?homepage=true The documents recovered indicate that the loss was artificially created to set off the respective capital gains Following a search and seizure operation
I-T assessments hit as e-filing portal’s communication with back-end broken | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/i-t-assessments-hit-as-e-filing-portal-s-communication-with-back-end-broken-121070800906_1.html A host of activities have been stalled on the upgraded e-filing portal; banks seek undertaking from customers for overseas payment Representational image Even
Tax Talk: Do shares come under the ambit of ‘goods’? – The Financial Express
lipped from: https://www.financialexpress.com/money/income-tax/tax-talk-do-shares-come-under-the-ambit-of-goods/2286623/ Clarity from the tax department is needed on TDS implications on transactions in unlisted shares and securities While the Sale of Goods Act,
Short-Term Capital Gains: New goodwill rule seen imposing tax liabilities on firms – The Financial Express
Clipped from: https://www.financialexpress.com/economy/short-term-capital-gains-new-goodwill-rule-seen-imposing-tax-liabilities-on-firms/2286672/ Finance Act, 2021, had amended that ‘goodwill’ will no more be regarded as an “intangible asset” and depreciation would be not be available
The good and the bad of global corporate tax proposal – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/data-stories/data-focus/the-good-and-the-bad-of-global-corporate-tax-proposal/article35172388.ece?homepage=true On July 1, India, along with 130 other countries which are signatories to the OECD’s BEPS (Base Erosion and Profit Shifting) framework, agreed
Firms slap ‘double TDS’ notices on shareholders – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/stock-markets/firms-slap-double-tds-notices-on-shareholders/article35200973.ece?homepage=true Confusion over linking of PAN, Aadhaar with demat and bank accounts Several thousand stock market investors and individual taxpayers said they have received
ITR filing: How banks, mutual funds and companies will check if you have filed ITR – The Economic Times
Clipped from: https://economictimes.indiatimes.com/wealth/tax/how-banks-mutual-funds-and-companies-will-check-if-you-have-filed-itr/articleshow/84057122.cmsSynopsis Deductors of TDS/TCS like banks, mutual fund houses etc can now check if you have filed ITR when your income crosses the TDS
करावे कर-समाधान : ..तर अधिक उद्गम कर | Loksatta
Clipped from: https://www.loksatta.com/arthvrutant-news/tax-information-tax-satisfaction-originate-more-bank-ssh-93-2519089/ अशीच तरतूद प्राप्तिकर कायद्यात ‘२०६ एबी’ आणि ‘२०६ सीसीए’ ही दोन कलमे जोडून करण्यात आलेली आहे. प्रवीण देशपांडे pravin3966@rediffmail.com विवरणपत्र भरणाऱ्यांची संख्या मागील
IT Dept gives more time for manual filing of 15CA/CB forms – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/it-dept-gives-more-time-for-manual-filing-of-15cacb-forms/article35157313.ece Date extended till July 15 The Income Tax Department on Monday extended permission for submitting form 15CA/15CB manually with authorised dealer for the
Businesses need not deduct TDS on share/commodity purchases via exchanges: CBDT – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/businesses-need-not-deduct-tds-on-share/commodity-purchases-via-exchanges-cbdt/articleshow/84110730.cmsSynopsis With effect from July 1, 2021, the income tax department has introduced a provision relating to Tax Deducted at Source (TDS)which would be
New TDS deduction rules: Everything you need to know – BusinessToday
Clipped from: https://www.businesstoday.in/latest/trends/story/new-tds-deduction-rules-everything-you-need-to-know-300381-2021-07-03 New TDS rules: The changes will be applicable for persons who have not filed the returns of income for two assessment years and
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