Aadhaar-based electronic verification code will do away with need to send physical ITR-V copies to I-T centre
Even domestic income can be subjected to scrutiny by the taxman.
Stepping up his attack on the Bharatiya Janata Party government, Congress leader Rahul Gandhi has alleged that the structures of Indian democracy are under 'brutal attack' and there is a full-scale assault on the institutions of the country.
Nokia may be allowed to sell Chennai mobile plant.
The issue dates back many years when the actor and others proposed bringing Sony TV channel to India.
India is set to sign an agreement with the US to resolve transfer pricing disputes, which will then serve as a template for settling such rows with multinational companies based in the UK, France and other European countries.
Taxpayers can claim a deduction on tuition fees for a maximum of two children.
A combination of factors, including heavy investments in US Treasury bonds and dollar sales at a healthy profit, facilitated the Indian central bank in transferring a record surplus of Rs 2.11 trillion to the government for 2023-24 (FY24). The RBI's dollar purchases increased in FY24, supported by robust capital inflows endorsing the economy's health.
Replying to a query, whether the government has made any assessment of black money stashed by Indians in foreign countries, Jaitley said there is no official estimation of that.
Even before NCP-Ajit Pawar leaders came to meet in Delhi, the central government decided to buy 200,000 tonnes of onions from farmers at Rs 24.1 per quintal. This was among the highest prices at which onions have ever been bought from farmers.
The Income Tax Department had last month auctioned several art works that were owned by absconding diamond merchant Nirav Modi for Rs 59.37 crore.
Justice Handyala Lakshminarayanaswamy Dattu was sworn in as the 42nd Chief Justice of India by President Pranab Mukherjee on Sunday.
Capital markets regulator, I-T department suspect tax evasion and market manipulation
The notice, the sources said, was issued on Tuesday to Anita Singhvi and that she was asked to explain how much she had paid in cash and through cheque to purchase the valuables and jewellery a few years back. It is understood that the I-T feels that about Rs 1.5 crore was paid by cheque for the purchase of the jewellery, while about Rs 4.8 crore was paid in cash by Anita Singhvi.
The department apparently suspects the use of shell firms or front entities in some aspects of such remittance. Money might, it suspects, have moved in some cases from tax-free jurisdictions or tax havens to accounts in the UAE and some South Asian countries.
Indore-based textiles firm Neo Corp is the latest in a series of Indian names that have been published in the official gazette of the Swiss govt.
The generation of quality jobs and skill development should be the focal point, cutting across ministries and departments, asserts Nivedita Mookerji.
Asserting that the prime minister's job will remain with BJP leader Narendra Modi even after the general elections slated for next year, Singh claimed the country is scaling new heights under PM Modi's leadership.
The government on Wednesday extended the tenure of Enforcement Directorate Director Sanjay Kumar Mishra by a year till November 18, 2022, days after the Centre brought ordinances to allow ED and Central Bureau of Investigation directors to occupy the office for up to five years.
The new 2 page form has been categorised as 'Form 6'
The inter-ministerial committee will coordinate investigation against Rajiv Gandhi Foundation, Rajiv Gandhi Charitable Trust and Indira Gandhi Memorial Trust.
There are no major legal complications in implementing the bill right now but the Narendra Modi government putting it off for 10 years, he said.
The entire HSBC list features names of 1,668 Indians
What transpired between O Panneerselvam and Prime Minister Narendra Modi in Delhi? R Rajagopalan reveals.
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The Reserve Bank on Thursdaysaid it is keeping a close watch on global banking major HSBC.
The Finance Ministry said it has followed standard practice and has not violated any Constitutional provision by not showing interest on tax refund as separate expenditure in the Budget.
The vacancies are learnt to be impacting the I-T department's day-to-day functioning.
After more than two decades and three attempts, the government has finally sold its flagship national carrier Air India, and it is deja vu for Maharaja as it returned home to its founding father the Tata group. Jehangir Ratanji Dadabhoy (JRD) Tata founded the airline in 1932 and named it Tata Airlines. In 1946, the aviation division of Tata Sons was listed as Air India, and in 1948, the Air India International was launched with flights to Europe. The international service was among the first public-private partnerships in India, with the government holding 49 per cent, the Tatas keeping 25 per cent and the public owning the rest. In 1953, Air India was nationalised and for the next over four decades it remained the prized possession for India controlling the majority of the domestic airspace.
Congress president Mallikarjun Kharge on Monday launched the party's crowdfunding campaign in New Delhi, asking people to join the fight against unemployment and rising costs.
Last week, Gandhi claimed that he had evidence of "personal corruption" of the prime minister but he was being prevented from speaking in the Lok Sabha because it would cause an earthquake.
The DMK also warned of legal action against those who attempt to link Sadiq with either the party or its leaders.
As many as 68 artworks went under the hammer on Tuesday evening and included works by the greats like Raja Ravi Varma, V S Gaitonde, F N Souza, Jogen Chowdhury, and Akbar Padamsee among others.
The I-T department has been probing 240 HSBC cases where it is suspected that Indians have stashed their illicit funds abroad.
Yadav said all parties have joined hands against the BJP in the Bihar assembly, and added "now this is going to be replicated across the whole country".
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After setting up a committee under N Rangachary last year to look at taxation issues regarding the sector, the government has issued several notifications in the last eight months.
An expert committee appointed by the Supreme Court said it cannot conclude any regulatory failure around Adani Group's stock rallies, and that Securities and Exchange Board of India (SEBI) has 'drawn a blank' in its probe into alleged violations in money flows from offshore entities into the conglomerate.
The recently promoted Commissioners will now take charge and ensure faster work.
Nokia's Chennai plant is under freeze over tax dispute.
The retrospective tax controversy was highlighted by Vodafone, but Cairn Plc's continuing problems point to the impact this law has had on FDI in India's oil and gas sector.
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