Out of around 80 million accounts that were analysed, there were 10 million records with only names and no other details about the subscribers, including their date of joining, date of birth and father's name, among others, in the EPFO's records.
Jaitley on Monday rejected demands for rollback of the 1% excise duty.
PAN will be a must for all transactions, including purchase of jewellery, above Rs 200,000 with effect from January 1, 2016
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The penalty was levied in connection with deficiencies and lapses in the operation and maintenance of the currency chest at the Secunderabad branch of SBI, it said. Last month, the RBI had imposed a penalty of Rs 3 crore (Rs 30 million) on SBI for violating know your customer/anti-money laundering norms.
The Centre's decision to not reduce the face value of shares of India's Crown Jewel - Life Insurance Corporation (LIC) - was taken to make shareholders feel they are acquiring something 'precious'. The face value of LIC's shares was retained at Rs 10, quoted in the draft prospectus, as it would also align the insurer's shares with those of its private sector peers. Even as the LIC Act was amended to "consolidate or reduce the nominal or face value of the shares", with the Centre's approval, it was decided to stick to the current face value of shares at Rs 10 without splitting the existing 6.32 billion shares.
Twitter on Wednesday said it has suspended over 500 accounts, and blocked access to several others within India as it partly acceded to a government order to curb spread of misinformation and inflammatory content around farmers' protests.
According to an order issued by the Central Board of Direct Taxes, the department will share 'bulk information', starting from Permanent Account Number (PAN) to the taxpayer's name and all the individual data that it captures like father's name, gender, date of birth, photograph and signature or thumb impression.
The tax department is on a spree to ensure more taxpayers in the country use the PAN card.
A single security lapse could lead to complete wipe out of your crypto assets in seconds, with no recovery in sight, warns Nikhil Sethi.
It could end the payment backlog and improve the revenue flow of discoms, says Piyush Goyal
The income-tax (I-T) department is working on integrating the new e-filing portal with stock exchanges to help tax authorities track trade transactions, including futures and options. The integrated system will look at discrepancies between the data disclosed by an assessee and match it with data fetched from stock exchanges, using artificial intelligence, said two officials in the know. This will help detect and red-flag such matters, particularly those related to non-filers of income-tax return (ITR).
The persistence with Aadhaar, to the exclusion of all other identity systems, is a dangerous path and should be avoided if the risks of digital vulnerability are to be eliminated. Till such time that the ownership of the Aadhaar system is transferred to an independent body, concerns over Aadhaar's digital vulnerability will persist, says A K Bhattacharya.
Many salaried taxpayers hold the misconception that they don't need to disclose any other income since TDS is deducted from their salary.
The credibility of the examination system has also come under question, they said.
There is no word on extending the February 6, 2018 deadline for linking mobile SIM cards with Aadhaar.
The SIP route suits the salaried class, by matching their income flows with investment frequency.
E-commerce companies that fall within the scope of the equalisation levy include Adobe, Uber, Udemy, Zoom.us, Expedia, Alibaba, Ikea, LinkedIn, Spotify, and eBay.
United States, Russia and China oppose talks to reform the powerful United Nations body
Viewing with concern the spurt in fictitious and unauthorised e-mails landing in personal Internet addresses of many people, the department is adding a word of 'caution' at the end of each mail sent by them.
The I-T department's app is useful for those looking for information, grievance redress, and resolving PAN- or TAN-related issues.
In FY 2014-15, Titan Co had reported a revenue of Rs 11,903.21 crore.
Jewellers went on strike for three days from March 2.
Here are some mistakes taxpayers make and how to avoid them...
Apart from shell companies, 'vanishing' companies are also on the ministry's radar. As many as 400 companies are not traceable, despite being listed on the bourses.
'If someone fiddles us on our religion then we will pay back five times more to that person. We have proved that time and again.'
FM Arun Jaitley says I-T dept's capacity to access information and apply technology driven analytical tools to expose evasion has been enhanced
In his first visit to the valley after becoming the prime minister for the third consecutive term, Modi emphasised the importance of enabling the people of Jammu and Kashmir to elect their representatives for the assembly.
Ministry of Corporate Affairs is now likely to examine whether all active companies have PAN or not
The current 3-page form is simplified version of an income tax return form after removing mandated disclosure of foreign trips and dormant bank accounts introduced two years back.
Such public domain discussions affect their morale and dedication -- and that, if anything, will definitely affect combat-effectiveness, asserts Vice Admiral Biswajit Dasgupta (retd).
In order to cripple and check the activities of wilful tax defaulters, the Income Tax department has decided to "block" Permanent Account Number (PAN) of such entities, get their LPG subsidy cancelled and take measures to ensure that they are not sanctioned loans.
'Trump's disregard for norms and institutions could prove very costly for America's social fabric.'
This is part of the initiatives that the ministry is undertaking to use technology in order to make airport check-in seamless and formation of a no-fly list.
Arun Jaitley declared proposal for a comprehensive law.
Ahead of the second instalment of advance tax, the revenue department is scrutinising entities that have registered negative growth in their tax deducted at source (TDS) payments, even when they reported healthy advance tax payments. According to sources, taxmen have observed a mismatch in TDS payments from at least 60-65 small to mid-sized companies. Officials said it is unusual for TDS to not increase, given the improved turnover and profits - if higher advance tax payments are any indication.
The amendment says that UIDAI can now give directions as it may consider necessary to any entity in the Aadhaar ecosystem
A total of Rs 396 crore has been mopped up, as on August 20 against Rs 407 crore collected in the same period last year. This was despite the expansion of the levy to online e-commerce players from this financial year.
This time, the linking of the Aadhaar number with of a taxpayer has been made mandatory for filing of an ITR, beginning July 1.
There are four simple ways to link PAN to Aadhaar; make the most of the deadline to avoid hassles later, explains Bindisha Sarang.
'The 2024 general elections proved that UP is not Gujarat.'
