Tag: Income Tax
CBDT issues Circular on amendment of Tax Audit Report
CBDT issues Circular on amendment of Tax Audit Report
Section 44AB of the Income-tax Act, 1961 (‘the Act’) read with Rule 6G of the Income-tax Rules, 1962 (‘the Rules’) requires prescribed persons to furnish the...
The Income-tax Department (ITD) takes appropriate action against black money – 68 person convicted
The unearthing of Black Money
The Income-tax Department (ITD) takes appropriate action against black money which is an on-going process. Such action under the Direct Tax laws includes searches, surveys, enquiries, assessment of income, levy...
Payroll Reporting in India – A Formal Employment Perspective- May, 2018
Payroll Reporting in India – A Formal Employment Perspective- May, 2018
The Central Statistics Office (CSO), Ministry of Statistics and Program Implementation has released the report on Employment Outlook of the country covering the period...
State Election Machinery and Income Tax Department step up their action against misuse of...
State Election Machinery and Income Tax Department step up their action against misuse of money in forthcoming Karnataka Assembly elections
In Karnataka, State Election Machinery and Income Tax Department have stepped up their action against...
The Government of India issues clarification regarding requirement for furnishing of Country-by Country Report...
The Government of India issues clarification regarding requirement for furnishing of Country-by Country Report under Section 286(4) of Income Tax Act, 1961.
In keeping with India’s commitment to implement the Recommendations of the 2015 Final Report...
Linking of Aadhaar with PAN Cards – Aadhaar cards linked with PAN is 166582421
Linking of Aadhaar with PAN Cards
As per the latest available information as on 05.03.2018, number of Aadhaar cards linked with PAN is 16,65,82,421 . Further, as on 02.03.2018, 8779.65 Lakhs Current Accounts and Savings...
FCRA compliance – One time exemption given to NGOs to file missing Annual Returns
One time exemption given to NGOs to file missing Annual Returns
Government has given one final opportunity to all associations/organizations which have applied for renewal of their registration under the Foreign Contrubtion (Regulation) Act, 2010...
Income Tax Department simplifies linking PAN with Aadhaar for taxpayers using Income Tax India...
Income Tax (IT) Department simplifies linking PAN with Aadhaar for taxpayers using Income Tax India website
No need to login or be registered on the E-filing website for linking
The Income Tax (IT) Department has made...
Operation Clean Money by IT Dept gets more than 5.27 lakh taxpayers responded till...
Operation Clean Money by IT Dept gets overwhelming response. More than 5.27 lakh taxpayers submitted their response till 12th February, 2017. Last date for the submission of online response extended up to 15th February,...
Prime Minister’s Statement on Union Budget- 2017-18 while Mamata is furious over the Budget
Prime Minister’s Statement on Union Budget- 2017-18
I congratulate the Finance Minister Arun Jaitley Jee for presenting an excellent Budget. It will empower the poor and live up to the expectations of all. It will...
Clarifications on implementation of GAAR provisions under the Income Tax Act, 1961
Clarifications on implementation of GAAR provisions under the Income Tax Act, 1961
The General Anti Avoidance Rule (GAAR) provisions shall be effective from the Assessment Year 2018-19 onwards, i.e. Financial Year 2017-18 onwards. The necessary procedures for...
The Directorate of Income Tax Intelligence and Criminal Investigation, Kolkata holds conference with senior...
The Directorate of Income Tax Intelligence and Criminal Investigation, Kolkata holds conference with senior officers of all banks, including cooperative banks, rural banks and post offices, to apprise them about the very recent amendments brought into the...
Income Tax Department receives Silver Award for e-filing of Income Tax Returns project in...
Income Tax Department receives Silver Award for e-filing of Income Tax Returns project in the National Awards on e-Governance 2016-17.
The Income Tax Department is proud to announce that it has been conferred the Silver...
Measures for Promoting Digital Payments & Creation of Less-Cash Economy: Benefit of lower rate...
Measures for Promoting Digital Payments & Creation of Less-Cash Economy: Benefit of lower rate of Income Tax on digital turnover for small businesses.
The benefit of lower rate of Income-tax on digital turnover for small...
Revenue secretary Dr Hasmukh Adhia gives answer on the questions relating to action by...
Some replies given by revenue secretary Dr Hasmukh Adhia on the questions relating to action by incoming tax department in respect of money deposited in banks in old currency
Q1 A lot of small businessmen,...
Income Tax Department Update for Gold Merchants of Kolkata
Kolkata, August 12, 2016: "The Income Tax Department has made major changes in the Income Tax Act and Income Tax Rules during the last two years with regard to collection of information from traders,...
India Reforms Accounting Process – Framework for computation of book profit for the purposes...
Framework for computation of book profit for the purposes of levy of MAT under section 115JB of the Income-tax Act, 1961 for Indian Accounting Standards (Ind AS) compliant companies.
A Committee had been constituted, with...
Income Tax Department to issue 7 lakh letters seeking Information in respect of High...
Income Tax Department to issue 7 lakh letters seeking Information in respect of High Value Non PAN Transactions
Under the Annual Information Returns (AIR), various types of high-value transactions were being reported to the Income...
Income Declaration Scheme 2016 – Government Issues Clarifications in the form of Fourth Set...
Income Declaration Scheme 2016 – Government Issues Clarifications in the form of Fourth Set of Frequently Asked Questions (FAQs)
The Income Declaration Scheme, 2016 provides an opportunity to persons who have not paid full taxes...
Careful India. Taxmen are watching – Declare your Income before 30 Sep 2016 under...
Today at Income Tax Office of Kolkata Principal Commissioner of Income Tax , West Benagl & Sikkim addressed the Kolkata press to clear the motto of Income Declaration Scheme 2016 (IDS 2016).
He assured that...
