Non-compliance, underreporting or misreporting will attract a penalty of 50-200 per cent. The authorities may during assessment even tax assets that are 15-20 years old
In the first tranche, the department will send out letters in 100,000 cases where the money spent is at least Rs 1 crore (Rs 10 million) each a year.
Asked about the Congress's opposition to the GST Bill, Santosh Kumar Gangwar said no party opposes GST outside Parliament.
If the new regime is introduced in 2017, the govt may lose out on cess, surcharge
Those evading taxes could soon find tax officials at their doorstep, with a rather insightful account of their big purchases.
The final list of bidders would be finalised only after the interested firms pay the earnest money deposit on June 30.
Huge margins, high custom duty and increasing demand among youngsters have led to exponential increase in smuggling of foreign cigarettes.
Sebi on April 4 gave the brokerages 60 days to have their books vetted by third-party auditors.
Indradhanush-II is likely to chart out the process for resolution of non-performing assets.
The enforcement agency had received queries from the Interpol to this effect in May last week.
The 0.5 per cent Krishi Kalyan Cess (KKC) on all services increases the total tax chargeable on services to 15 per cent, making it expensive to dine out or travel.
The income tax department on Monday released rules for equalisation levy - a tax on online advertisements that would come into effect from June 1.
In the previous Budget, the government had come out with a similar scheme.
The cumulative loss of 20 state-run lenders stood at Rs 14,000 crore during Q4
Probe agency to set up special software to probe money trail in the case.
The note guides taxman to avoid seeking voluminous details.
The enforcement agency is looking to ensure that no big deals or transactions, such as the one Mallya struck with Diageo for Rs 500 crore, take place.
I-T department is investigating 20 listed companies suspected to have falsely claimed long-term capital gains tax exemption
RBI governor also spoke on the ill effects of cutting interest rates too much
An official request has been made to the CBI to get a notice issued through its Interpol wing
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances