Two recent events, though unrelated, could have wide-ranging impact going forward on the abuse of shell companies for money laundering and tax evasion. The first
Category: Income Tax
Income tax returns: I-T plans to pursue property-holders who have never filed income tax returns–Economic Times–18.08.2017
Income tax authorities plan to pursue those who have properties in their name but haven’t ever filed income tax returns on the suspicion that these
Filing a revised tax return is quite easy | Business Standard News–18.08.2017
If you are one of the last-minute filers of income-tax returns, it is quite possible that mistakes have crept in some computation or other. For
Black money: How note ban showed Modi where exactly to look for black money–Economic Times–17.08.2017
When Prime Minister Narendra Modi banned high-denomination currency bills in a surprise move late last year, authorities noticed a surge in shell companies depositing cash
Returns filing exercise not yet over for many with CPC seeking clarifications | Business Line–09.08.2017
The last date for filing IT returns for AY 2017-18 is over. But the system generated mails that have been flooding many a taxpayer’s in-box,
income tax return: Demonetisation & Operation Clean Money effect: ITR filings for 2016-17 grow 25% to 2.82 crore–Economic Times–08.08.2017
Individual income tax returns jumped 25% so far in the current financial year as the authorities turned up the heat on evaders after demonetisation. The
Income tax return file: Why you should not rely solely on your income tax return filer, chartered accountant when filing ITR–Economic Times–05.08.2017
Email ID and mobile number given in your return for communication purpose should be the same as those registered in your e-filing account. Here’s a
Now, pay 20% of disputed amount to get stay on I-T dept demand | Business Standard–05.08.2017
Those planning to appeal against the demand raised by the income tax (I-T) department will now get a stay only if they shell out 20
What if you miss the Income Tax Return deadline on August 5: Here’s what to do – The Financial Express–04.08.2017
While the government has extended the last date for filing income tax returns to August 5 because of some technical glitches, if an assessee misses the
Income Tax department: This is how I-T department is using data analytics to catch tax evaders–Economic Times–03.08.2017
It’s not unusual to form an investment company for buying an expensive residential apartment. But in the case of a city Golf Link Road apartment,
Do meet the extended deadline of August 5 for filing ITR | Business Standard–02.08.2017
The income tax (I-T) department has decided to extend the deadline for filing tax returns till Saturday. If you have not filed your returns yet,
ITR Filing deadline: Here’s what will happen if you miss today’s income tax return filing deadline–Economic Times–01.08.2017
Make sure you don’t miss the extended deadline. Here’s what will happen if you do. Can I file my income tax return after the deadline?
Income tax return: What you should do if you get an income tax notice–Economic Times–31.07.2017
Filing income tax returns by due date is crucial, but equally important is to file these correctly. If you don’t do so, expect a notice
Instagram posts will soon help Modi government sniff out tax evaders–Economic Times–29.07.2007
By Shruti Srivastava A photo of your shiny new car on Instagram or the Facebook post about your chic holiday cottage may lead India’s
Tax return: Without UID, expatriates unable to file tax returns–Economic Times–28.07.2017
Many expatriates living in India and non-resident Indians living in any other country may just end up in tax trouble with no fault of theirs.
Got an I-T notice on cash deposits? Don’t panic and follow this guide | Business Standard News–28.07.2017
The Reserve Bank of India (RBI), in tandem with public sector and commercial banks, has undertaken data mining on a massive scale to identify how
Tax evasion: Demonetisation crackdown round two: Tax sleuths target corporate accounts–Economic Times–27.07.2017
After targeting individuals who made large cash deposits in banks during or after demonetisation, the income-tax department is now going after businesses that deposited lots
Reader’s corner: Taxation | Business Standard News–27.07.2017
I moved to Singapore five years earlier. I have Rs 5 lakh in a savings bank account in India. There have been no transactions since
Over 6.83 L companies have PAN but did not file I-T returns: Minister of State for Finance Santosh Kumar Gangwar – The Financial Express–26.07.2017
Over 6.83 lakh companies have permanent account number (PAN) but did not file income tax returns for assessment year 2016-17, Parliament was informed today. The
I-T department probing 30,000 cases where ITRs were revised after demonetisation: CBDT–Economic Times–25.07.2017
The Income Tax department is probing over 30,000 cases of alleged tax evasion wherein the returns (ITRs) were revised by assessees post demonetisation, CBDT chief
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