Those evading taxes could soon find tax officials at their doorstep, with a rather insightful account of their big purchases.
The department has calculated and arrived at the figure and may raise two separate demands.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, will answer your queries.
Nokia may now not sell its Chennai unit.
After the euphoria over winning the gold medal at the Asian Games, Indian hockey suffered a major jolt on Tuesday with the resignation of the team's chief coach, Terry Walsh.
With digital technology, the I-T department's ability to catch tax evaders has increased many times.
The Delhi High Court on Thursday asked the Income Tax (IT) department to take a decision on the offer of Finnish mobile maker Nokia to pay a minimum deposit of Rs 2,250 crore (Rs 22.50 billion) to it towards the tax liability of the company which is nearly Rs 6,500 crore (Rs 65 billion).
The filing of audit reports was made mandatory in ITR Form 5, 6 and 7 after the tax department noticed discrepancies in filing of some returns along with audit reports.
The CBI has shared its findings with the Enforcement Directorate.
'Our passionate love for our nation as seen in our anger at slogan shouters does not extend to caring for the nation in other ways. We are one of the dirtiest people on earth and even our holiest river the Ganga can only be cleaned if the Supreme Court orders it, and even then with difficulty,' says Aakar Patel.
Disclose foreign assets, redesignate NRO a/c and open a Resident Foreign Currency a/c to park forex earnings
FBT was an unpopular tax and withdrawn before the General Elections in 2009
BJP MP Kirti Azad on Sunday alleged that lots of companies were given crores of rupees by the DDCA and contracts were given out to fraud companies without any verification.
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HC restrains Nokia from selling, transferring ownership rights in India.
Budget should be a platform for govt to take bold steps.
Real estate sector cheers reforms in the Budget.
Dept to focus on real estate, infra, mining and manufacturing to detect evasion.
Use deductions introduced in the Budget to save additional Rs 24,000 in tax
The company moved the income-tax appellate tribunal and its appeal is pending there.
If you plan it out, instead of rushing it in the last moment, you will realise how much you have saved and the difference it makes to your personal wealth.
Ajay Singh is trying hard to turnaround SpiceJet.
These plans aren't likely to put substantial cash in your hands.
Encouraging domestic financial savings through focused measures would help mobilise long term resources for funding infrastructure and economic development.
Getting US citizenship will in no way affect your right of being able to own or hold the agricultural land in India.
The Urjit Patel committee on monetary policy framework has proposed setting up of a monetary policy committee (MPC) that will be headed by the Reserve Bank of India (RBI) governor and accountable for achieving inflation target set by it.
Budget might turn out to be neutral for the sector.
Tax incentives to have cascading effect on the capital goods industry.
Mohandas Pai took part in an hour-long chat on rediff.com
Boost to dairy sector will generate jobs
Income from renting of properties is taxed at a flat rate of 10%.
Transcript of the Ganesh Natarajan chat on rediff on Friday.
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