As much as 73% of total income of national political parties is unaccounted for, says Association for Democratic Rights.
Such schemes try to exploit an anomaly in taxation, but aren't in violation of laws, experts say.
Finance Minister Arun Jaitley said political parties will be entitled to receive donations by cheque or digital mode from their donors.
The allegations of DDT evasion is connected to some transactions the Indian entity has made while buying shares of the company from the Mauritius and US companies of Cognizant.
Tax Guru Anil Rego answers your personal income tax queries.
'Many theories are doing the rounds on how to declare unaccounted income.'
'One of the more interesting ideas I have heard,' says Harsh Roongta, 'is that the tax payer can state that he found the currency notes in a bag on the street.'
Notification, FAQs likely after FM Jaitley returns from the US
The government has decided to provide the tax defaulters another chance to prove their loyalty to the IT department, by implementing a single time amnesty scheme.
A quick snapshot about the fundamentals of the concept of life insurance.
A stream of people, including those from Rajasthan and Karnataka, walked into the only designated office before the closure of the one-time compliance window.
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As of September, account for bulk of applications for availing of the government's amnesty scheme.
If the real estate sector is properly managed, it could drive not just finance but demand for a range of products and services, observes T N Ninan.
The two central premier investigative agencies - Central Bureau of Investigation and Enforcement Directorate - have asked their officials to focus more on digital evidence, e-forums and social media to crack down on offenders. These are a crucial part of prosecution amid the second wave of the pandemic. The Income Tax Department is going full throttle on data analytics to issue notices in time-bound cases. Further, sleuths have been given electronic devices including laptops with secure connections, which keep data encrypted and inaccessible.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
At present, 100 days of work is provided to rural job card holders under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).
The top court granted two weeks to the Centre and RBI to file the affidavit and place before it the decisions taken in this regard.
Restraining the Income Tax authorities from going back on their promises, the Supreme Court has categorically ruled that they cannot reopen the tax payments settled under the Kar Vivad Samadhan Scheme, 1998.\n\n\n\n\n\n
'He is not looking at the interest of farmers. He only wants to do the politics of elections.' 'This Budget is for the new super India. It is exploiting the villages of Bharat.'
'Gloom is nowhere in sight, with healthy foreign exchange reserves, a strong rupee, healthy tax collections, corruption and crony capitalism under check,' argues Gopal Krishna Agrawal.
'Their vote bank has shifted to the BJP; the Congress is yet to realise it.'
Finance Minister Nirmala Sitharaman on Friday hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
Naval Goel explains all that you wanted to know about life insurance but didn't know who to ask
The area-based income compensation scheme says that farmers should be paid the difference between the actual price they get and the state-mandated MSP. The compensation will be determined on a per acre basis by using district-level estimates of marketable surplus and prices in the harvest season.
Modi also appealed to farmers not to burn crop residues so as to curb pollution.
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
Under the scheme coming into effect from April 1, 2018, a donor could purchase bonds from authorised banks against cheques or digital payments. These would be redeemed only in the designated account of a registered political party.
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.
It is just a question of providing an additional facility to the taxpayer that if he is not quoting PAN and only has Aadhaar, his filing and processes do not get affected, said CBDT chief.
While rising food inflation is a matter of grave concern for a significant chunk of the population and for policy makers as well, it marks a turnaround in the fortunes of the farmer, reports Sanjeeb Mukherjee.
Many countries advised the return the high-denomination notes to the central bank for destruction, but these continued to be legal tender. This and the introduction of a new Rs 2,000 note in India are the two major differences between Indian demonetisation and those of other countries.
Amendments will be tabled in Parliament for approval by Monday or Tuesday.
The formula for success of farm economy is very simple -- farmers should be able to produce more from the same piece of land at reduced cost while minimising risk and be connected to market to get higher realisation for their produce, points out Siraj Chaudhry.
Most MIPs this quarter have not been able to declare regular or adequate dividends due to their lacklustre performance.
Senior advocate Indira Jaising said the review petition has been filed against the September 26 verdict of the five-judge constitution bench which had said there was nothing in the Aadhaar Act that violated right to privacy of an individual.
The ruling mean FPIs cannot seek treaty protection against the new withholding tax that companies are required to deduct at source. The apex court order pertains to when the cricketing bodies of Pakistan, India, and Sri Lanka formed a joint committee to conduct the 1996 Cricket World Cup.
Conservative investors and those in the lower tax bracket should opt for these, experts tell Sanjay Kumar Singh
To cut subsidy bill and reduce fiscal deficit, the previous United Progressive Alliance government had restricted the number of subsidised domestic cylinders per household to six every year in September 2012, revising it to nine the following January
Kejriwal's centralised way of governance might work in Delhi, but Punjab will call for delegation, observes Sanjeev Nayyar.
