The cash was neatly packed in 94 packets and envelops on which the ward number, number of voters and the amount of Rs 300 per voter was written.
The forms might soon come "pre-filled" and taxpayers won't have to fill details such as income, income sources, and personal details
Praveen Kakkar has alleged that the Income Tax raids at his premises were politically motivated, and claimed nothing objectionable was found against him in the two-day operation.
Though the system is called faceless, it would have a room for inviting tax payers through video conferencing.
To improve compliance, govt may introduce lottery reward for filing GST. The Consumer Welfare Fund, where anti-profiteering proceeds are deposited, will be used to reward the lucky winners on monthly and annual bases. The prize money, yet to be fixed, may run into several lakhs of rupees for the annual draw, and about Rs 50,000 for monthly draws.
CBDT asks for urgent action, especially with respect to recovery of arrears and current demand, to achieve the collection target.
'What happened was that over a period of time, the data analytics showed that many were claiming it and that it was being misused'
Sama Shabir Shah says she used to study outside Tihar Jail while waiting for hours to be allowed to meet her father.
The board is prepared to conduct the exams for class 10 and 12 for crucial 29 subjects, while the Human Resource Development Ministry has directed states to start the evaluation process for the exams already conducted and facilitate the CBSE in evaluation of answer sheets.
CBDT has sought explanation from B R Balakrishnan, former director-general of I-T (investigation wing) and former principal chief commissioner of I-T for Karnataka and Goa, who had ordered attachment of CCD's shares when he was in charge of the Bengaluru region. He retired last month.
The government has set a direct tax collection target of Rs 13.35 trillion, which includes Rs 7.66 trillion from corporation tax and Rs 5.69 trillion from personal income tax.
The move is aimed at protecting investors from parking their money in dubious schemes.
Corp tax arrears at over Rs 3.11 trillion as of Dec 2014.
'There will always be hiccups given that the Namami Gange programme is spread over different sectors and involves several agencies.'
Amul Co-operative Ltd takes dig at CBFC chief Pahlaj Nihalani.
As per the latest data, the number of taxpayers getting refunds is up by 62 per cent from 1.22 crore refunds in the corresponding period of the last fiscal.
The aim of the exercise was to further simplify GST forms and make the filing process more user-friendly, the finance ministry said in a tweet, reports Dilasha Seth.
Cyber thieves have been using RBI logos to send out mails to cheat customers
Individuals and entities, whose accounts are not required to be audited, were mandated to file I-T returns by July 31.
Unhappy with the recreation of his song Masakali, A R Rahman has asked fans to listen to the original track, saying his team put in a lot of hard work and sleepless nights in composing it.
Of the seven surveys presented under Modi govt, predictions of three were quite close to the actual GDP growth rate, one saw the base year change in between, but the last three were way off the mark.
Among sectoral indices, telecom led the chart, spurting 3.08 per cent, followed by oil and gas.
Industry had sought this 3-month extension, specifically for players struggling to collate the information that are required to be disclosed in the GST forms.
Tax Guru Anil Rego answers your personal income tax queries.
Apart from Modi, Jaggi Vasudev to address 2-day tax officers' conference
Sources said there is a strong view in the EC that it should not restrain the release of the biopic on the prime minister and should leave it to the Central Board of Film Certification to take a call on the issue.
The government has now made quoting of Aadhaar mandatory for filing income tax returns as well as obtaining a new PAN.
The total direct tax collection stands at a little over Rs 9 trillion, giving the taxman just few days to reach the 2018-19 revised target of Rs 12 trillion., reports Shrimi Choudhary.
The Central Board of Direct Taxes has asked field officers to augment tax collections by ensuring that sectors growing at faster rates compensate for those growing slower.
While the Delhi government announced that schools will not be allowed to hike fees during the lockdown period and only tuition fee will have to be paid, Maharashtra has said parents can lodge complaints with district education officers if schools demanded fees. The Gujarat government had on Monday announced that private schools will not hike fees for an year. The West Bengal government has appealed to schools to refrain from hiking fees.
Prime Minister Modi will be conferred with the Maldives' highest honour "Rule of Nishan Izzuddeen".
CBDT has been given a collection target of Rs 5.69 trillion in personal income tax in the fiscal year 2019-20 - 19.2 per cent more than the Rs 4.77-crore collection in the previous year.
Taxmen have come across instances where global firms - charged a withholding tax of 6 per cent - are underreporting the exact income they earned from an Indian user.
A high-level panel led by former RBI governor Bimal Jalan, set up to decide the appropriate capital reserves that the central bank should maintain, on Wednesday finalised its report.
It also said that over 1.38 crore entities have already filed their income-tax returns till now.
The EPFO is now developing a software that will help show retirement savings in cash and ETFs components separately. At present the account only shows the savings as gross cash component.
Usually, the Income Tax Department notifies the ITR forms in the first week of April of the relevant assessment year. However, in contrast to the old practice, it has notified two ITR forms ITR-1 and ITR-4 for the assessment year 2020-21 in the first week of January.
To address the supply crunch, CII has suggested leveraging the existing excess capacity in the Indian industry; rolling back import duty hike to look for alternative sources of imports; expanding credit to manufacturing units with quick loan sanctions, and one-time emergency waiver of non-performing asset regulations for three months.
The reduced growth is largely because of consumption slowdown and tax rate cuts.
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