No attention to detail seems to have been paid while introducing such a major provision and the wide arc of people it will take in its ambit, states Harsh Roongta.
The PMGKY will not allow declarants to use claims made for refunds for advance taxes paid, tax deducted at source and tax collected under the scheme.
The case relates to allegations of money laundering in the purchase of a London-based property -- located at 12, Bryanston Square -- worth 1.9 million pounds, which is allegedly owned by Vadra.
Any market correction, analysts say, would be an attractive entry point for risky assets, which should do well over the medium-to-long term.
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.
Restricting the input credit is not a good idea for any sector, particularly real estate which requires more formalisation.
In an online chat with readers on July 8, Anil Rego answered their tax queries. Here's the chat transcript in case you missed the chat
For almost all the properties owned by Vijay Mallya, the reserve price has been marked down after the earlier attempts failed to attract bidders.
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