Economic stagnation is the advance payment for polarisation, which extracts a terrible price.
GAAR will not override the recently revised double taxation avoidance agreements with Mauritius and Singapore.
The regulator acted on the basis of a June 2011 complaint from the Office of the Directorate of Income Tax.
The Income Tax department on Friday conducted separate 'survey operations' at the premises of online news portals Newsclick and Newslaundry in New Delhi, officials said.
Reliance Industries Ltd on Monday reported a 5 per cent fall in the net profit for the July-September quarter, as weak oil refining and petrochemical business hurt operational performance.
In an online chat with Rediff.com readers, G Srikanth, partner, GSV Associates, chartered accountants, Chennai and member of the Institute of Cost and Management Accountants, answered queries about the new income tax proposals mooted in the Union Budget 2020-2021.
Purchase of three plots of land in Haryana in 2005-06 by Congress leader Sonia Gandhi's son-in-law Robert Vadra from a real estate agent is being probed along with a land deal made by his wife Priyanka Gandhi Vadra, the Enforcement Directorate (ED) claimed in a recently filed money laundering case charge sheet.
Many life insurance companies are yet to see a sharp spike in the sale of high-value policies as was widely expected in the aftermath of the government's decision to tax income from insurance policies having an aggregate premium above Rs 5 lakh in a year.
When contacted, Raninder said said he has nothing to hide and was willing to cooperate on the issue.
Uttam Ghosh wonders why the slightest hint of dissent so irks the most authoritarian government since Indira Gandhi's time that it deploys the agencies at its command to try and silence dissenting voices.
'She was lying there and I mustered up enough guts to lay next to her and hold her tight.' 'And she said, "Oh my, Girish, isn't he supposed to be nervous?"' 'Making light of the situation, Girish said, "No, he's been practicing with a pillow the whole day".'
A bench comprising Justices Sanjiv Khanna and Dipankar Datta took note of the submissions of lawyer Prashant Bhushan, appearing for NGOs 'Common Cause' and the Centre for Public Interest Litigation, that the plea needed to be listed for hearing at the earliest.
Income Tax department has sought prosecution powers in the proposed Direct Taxes Code for taking effective action against tax evaders.
ITC was the top laggard in the Sensex pack, tanking 6.97 per cent, followed by L&T, HDFC, SBI, ONGC, ICICI Bank and IndusInd Bank.
While it was technically not possible to block the deal, the tax department could resort to arm-twisting.
The federal agency issued a summons to Vaibhav Gehlot (43) last week, asking him to appear before the investigating officer of the case at its headquarters on A P J Abdul Kalam Road here under the provisions of the Foreign Exchange Management Act.
At least 120 insurance intermediaries and aggregators from across the country are under scrutiny, mainly from Mumbai, Gurugram and Bengaluru.
There are over 25 crore PAN card holders in the country while Aadhaar has been issued to 111 crore people.
The court will hear Sahara case on July 14.
'This mega corruption scandal, as certified by the Supreme Court, will expose the unholy nexus between the BJP and its corrupt corporate masters'
Experts, however, said that it is a very nominal benefit to the salaried class.
Delhi court to hear Subrata Roy's IT case on June 1.
The NCP also asked the Income Tax department and the Enforcement Directorate to find out the source of "black money" involved.
Also build a contingency fund equal to 9 to 12 months of expenses.
The Enforcement Directorate on Friday arrested the special secretary of the Chhattisgarh excise department in a money laundering case linked to the alleged Rs 2,000 crore liquor syndicate scam in the state.
In 2019-20 Budget, the government had increased surcharge from 15 per cent to 25 per cent on those with taxable income between Rs 2-5 crore and from 15 per cent to 37 per cent for income above Rs 5 crore. Following the increase, the effective income tax rate for individuals with a taxable income of Rs 2-5 crore will go up from 35.88 per cent to 39 per cent and for those above Rs 5 crore it would go up to 42.7 per cent.
Not mailing ITR-V on time has many negatives. You might be fined Rs 5,000 a return for failing to file returns by the end of the assessment year.
It is sending letters to 35,170 PAN holders in the first phase.
Prasanna D Zore/Rediff.com reports on the chaos facing taxpayers with the income tax department making changes to ITR 2 and 3 forms just before tax-filing deadline.
The bulk of an investor's portfolio should be in shorter-duration funds of up to one year portfolio duration.
The HC has also directed the premier agency to submit an action taken report before February 22 in the case registered under the Prevention of Corruption Act.
The Enforcement Directorate (ED) on Wednesday told the Delhi high court that Chief Minister Arvind Kejriwal, arrested in a money laundering case linked with the alleged excise scam, cannot claim "immunity" from arrest on the ground of upcoming elections as law is applied equally to him and an aam aadmi.
There are doubts about the meeting of indirect tax collection target for the current fiscal as there is slowdown in the economy.
Nirmala Sitharaman is proving to be a better finance minister than her initial rookie status might have led people to expect, observes T N Ninan.
This will add to the woes of the conglomerate that had received a show-cause notice from the Directorate of Revenue Intelligence (DRI) last week for alleged over-valuation of imported machinery by Rs 2,000 crore.
'...be it a comedy, thriller or a love story.' 'The bhindi costs Rs 30 per kilo, but the price of potato remains unchanged.'
NewsClick said that none of these investigations led to any chargesheets or complaints over the last three years."
Rajasthan Chief Minister Ashok Gehlot on Wednesday said the accused in the Kanhaiya Lal killing case in Udaipur were 'linked' to the Bharatiya Janata Party and should have been 'hanged by now' but the investigation by the National Investigation Agency was not progressing as it should.
In a massive setback to Delhi Chief Minister Arvind Kejriwal, the Delhi high court on Tuesday dismissed his petition challenging his arrest in a money laundering case stemming from the alleged excise scam, saying there was no contravention of legal provisions.
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