The total number of returns filed as on August 5 stands at over 2.82 crore as against over 2.26 crore filed during the corresponding period of 2016-17
Holding out no assurance of an absolute confidentiality to those disclosing foreign assets on their own, the government on Tuesday said details of information provided during the one-time compliance window can be revealed in the public interest.
Ajit Balakrishnan offers a New Year resolution for our policy-makers.
Of the people whose data the income tax department now has, email and SMS queries have been sent to 13 lakh people.
The finance ministry said the notification pertains to putting in place an efficient mechanism for collection of stamp duty on security market instruments transactions through stock exchanges or clearing corporations authorised by stock exchanges and depositories.
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HC restrains Nokia from selling, transferring ownership rights in India.
Sebi had, in February, dropped allegations of fraudulent and unfair trade practices against NSE's former heads Ravi Narain and Chitra Ramakrishna in the co-lo case.
He, however, believes that Ronaldo will stay at the club.
The government on Monday disclosed before the Supreme Court eight more names including that of Pradip Burman, one of Dabur India promoters, a bullion trader and Goa miners against whom it has started prosecution for allegedly stashing blackmoney in foreign banks.
The United Progressive Alliance government will continue tax reforms, Finance Minister P Chidambaram said on Wednesday.
In its effort to unearth black money stashed away abroad, India has received data on over 24,000 instances of alleged tax evasion and dubious funds which has been detected in foreign shores in the last financial year.
Debashis Basu lists various reasons why laundering through the stock market thrives.
The online auction house had expected the item to be sold for $8,000 (Rs 5.2 lakh).
Multinational companies operating in India will soon have to disclose details of their operations at the country of residence and their revenue income to the Income Tax authorities.
Burman had sought permission to travel to Dubai from May 3-7.
This was a fresh probe based on the inspection of certain derivative contracts both on the BSE and NSE.
Boris Becker's thunderous delivery earned him the nickname 'Boom Boom' as a 17-year-old Wimbledon winner in 1985 but on Friday, aged 54 and bust, the German great was told he must serve time in prison.
Filing with inadequate disclosure of assets will be liable for prosecution
The new AIS is expected to make the taxpayer's task of filing ITR easier and faster, points out Bindisha Sarang.
News of all that's transpired on and off the football field
The court had earlier allowed Burman twice to go abroad, including a trip to London to attend his ailing brother there.
Tax collection at source would lock in Rs 400 crore of seller money, say Flipkart, Amazon, Snapdeal.
The fate of Mohana Rao was not immediately known.
As per the guidelines, the assessing officer has to issue letter to the assessee within 15 days of the case being assigned in NMS, seeking information about the return of income flagged in the system.
A K Bhattacharya digs into the yet-to-be-public report on ways to curb black money and finds out that Modi's next moves could include action on dabba trading, hawala, and education.
Total amount in these accounts is estimated to be around Rs 1,500-1,600 cr
The company was paying huge sums of money to their channel partners under different heads in lieu of commission.
India has joined global efforts to combat global tax evasion.
The IT department has a designated official to execute these rare powers.
Each dept could handle a designated area.
The absence of criminal legal treaties between India and tax haven nations have been cited by probe agencies working in the SIT on black money as one of the major impediments in initiating steps to bring back illegal funds stashed abroad by Indians.
The delegation comprised DMK leaders R S Bharathi, T K S Elangovan and Tiruchi N Siva.
The searchable database built on just a portion of the documents leaked from the Panama law firm Mossack Fonseca reveals more than 360,000 names behind the shell companies.
"You cannot play hide and seek with the court," Justice Suresh Kait said.
Finance Minister Jaswant Singh will walk a fine line between economic and political priorities next week when he unveils a Budget that could begin urgently needed tax reforms in Asia's third-largest economy.
The Income Tax department has sent a detailed questionnaire to about 50 individuals and entities figuring in the list of those allegedly holding offshore assets in tax havens.
News of all that's transpired on and off the football field
India has made a fresh request to Switzerland seeking bank details and names of Indians having unaccounted money in Swiss banks, as the government expands its efforts to combat the menace of black money.
The I-T Department has provided a list of 67 big tax defaulters on its official web portal
The agency filed its affidavit in response to Goyal's habeas corpus (produce the person) petition in which he claimed he was illegally arrested by the ED in the case.
