The Income Tax department has revised Form-16 by adding various details, including income from house property and remuneration received from other employers, thereby making it
Category: Income Tax
IL&FS financial services: IL&FS: Auditor regulator NFRA probing role of EY, KPMG and Deloitte
The newly formed regulator for auditors is probing the role of three of the big four auditors in the alleged financial irregularity in Infrastructure Leasing
Income tax dept coming after demonetisation cases, sets June 30 deadline for field officers – The Financial Express
CBDT has also set the deadline for filing of references before NCLT with respect to ‘struck off’ companies by June 30. The Central Board of Direct
Mine Data to Boost Direct Tax Collections–Economic Times
The Centre will reportedly face a shortfall of .`50,000 crore in the direct tax collection target of Rs 12 lakh crore for 2018-19. Bulk of
I-T crackdown: Over 100,000, mostly HNIs, come under lens for AY12-13 | Business Standard News
Taxman will identify cases based on data profiling and reporting of taxpayers Over 100,000 taxpayers across the country, particularly high networth individuals, have come under
Income Tax Dept looking at IBC resolution cases for possible tax violations – NEWS – The Hindu BusinessLine
The Income Tax Department has sought details of the status and identification of creditors and debtors under the Insolvency and Bankruptcy Code (IBC) to investigate
ITR 1 filing: ITR-1 for FY2018-19 asks for interest income break-up from tax payers–Economic Times
In the previous year’s ITR-1 form, the taxpayers were asked to provide an aggregate amount of income from other sources received by them. This year
Investors in unlisted firms can’t file ITR-1, ITR-4 forms, says CBDT | Business Standard News
Directors and people with investments in unlisted companies and start-ups will now have to make extensive disclosures in the new income-tax return (ITR) forms, according
Income tax: Taxmen use rare law to collect dues directly from bank accounts of evaders–Economic Times
Garnishee proceedings mainly refer to a situation where income tax officer gets a right to attach or collect money from anyone who owes money to
Tax filers increased, number of dropped filers declined post note ban, says CBDT – The Financial Express
Prime Minister Narendra Modi’s shock decision in October 2016 to suck up more than 85% currency in circulation had a positive impact on tax compliance in
नोटाबंदीच्या वर्षांत ८८ लाख करदात्यांची विवरणपत्रांकडे पाठ! | लोकसत्ता
खुशबू नारायण, मुंबई नोटाबंदीमुळे करदात्यांच्या संख्येत वाढ झाल्याचा दावा सरकारने केला असला तरी ‘दी इंडियन एक्स्प्रेस’च्या हाती लागलेल्या कागदपत्रांनुसार विवरणपत्रे न भरणाऱ्यांची संख्या नोटाबंदी झाली
Income tax: CAs across India request Modi govt to rein in tax officials | Chartered Accountants–Economic Times
Chartered accountants across the country have requested the Prime Minister’s office and the Finance Ministry to rein in tax officials who have been directed to take “all possible
संशयास्पद कंपन्यांचे व्यवहार तपासणार –महाराष्ट्र टाइम्स
नोंदणी रद्द करण्यात आलेल्या तीन लाख कंपन्यांचे आर्थिक व्यवहार तपासण्यात येणार आहेत. केंद्रीय प्रत्यक्ष कर मंडळाने (सीबीडीटी) प्राप्तिकर विभागाला याबाबत आदेश दिला आहे. नोटाबंदीच्या काळात
CBDT raises alarm as direct tax collection stands at Rs 10.21 trillion | Business Standard News
With four days remaining before the current financial year ends, the Central Board of Direct Taxes (CBDT) has sent a strongly worded letter to senior
PAN Card Holder Alert! Your PAN may become invalid unless you do this by March 31 – The Financial Express
Enrolment ID is the 28 digit Enrolment Identification Number issued to a resident at the time of enrolment of Aadhaar. The last date to link
It won’t be easy to claim 2 house properties as self-occupied for tax purposes: View – The Economic Times
By Naveen Wadhwa and Dipen Mittal Owning one house is a necessity but owning two houses might be a compulsion. If a person has to
Cash deposit after note ban: CBDT sets deadline for completing assessment of 87,000 non-filers – The Hindu BusinessLine
The Central Board of Direct Taxes (CBDT) has set a deadline of March 31 for completing assessment for 87,000 non-filers who deposited ₹10 lakh or
Posted overseas? Not disclosing foreign bank accounts can lead to prosecution under Black Money Act – The Economic Times
By Amarpal S. Chadha If you are travelling or posted abroad on work assignments, projects, business, etc you should be very careful that you do
Is the taxman trying to mend its ways or what? – The Financial Express
Given the dramatic increase in tax arrears, and the taxman’s remarkably poor record in securing court judgments in its favour—hence the term, tax terrorism—it is
Scrap The Angel Tax, Don’t Just Dilute It–Economic Times
The government’s reported move to ease the rules on angel tax is welcome, but insufficient to allow free flow of venture capital to startups. Any
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