Demand among several pre-Budget representation by BSE Brokers' forum
The Tax Administration Reform Commission submitted report to Jaitley in June 2014.
Some of the policy measures announced are expected to go a long way in removing current challenges on financing faced by businesses and also increasing economic activity, especially in areas of construction and manufacturing.
CBDT is the apex policy making body of the IT department.
The new office will have its base in the national capital.
Use of the incorrect form will result in your return being treated as defective, points out Suresh Surana, founder, RSM India.
'The government believes there is still significant scope to bring more people under the tax net and collect the right amount of taxes, in cases where taxpayers are underpaying,' says Kuldip Kumar, partner and leader personal tax, PwC.
The court had on July 21 issued summons to the firm, Maran and Natrajhen and directed them to appear today after taking cognizance of two I-T complaints filed against them.
Senior advocate Harish Salve, appearing for the telecom major, informed Justice Manmohan that the company in its response to the high court's August 22 notice has said it is not acceding to jurisdiction of the Indian courts in the matter.
According to sources, both the departments have already laid their claim on the proceeds from the sale of the property
Exemption limits, standard deduction on radar.
Income Tax dept to enhance prosecution against large defaulters.
The chief operating officer said that the carrier will surmount the present crisis very soon.
If your case is picked up for random scrutiny, any of the tricks that you or your financial advisor may have used to avoid tax will be easily detected.
The department has calculated and arrived at the figure and may raise two separate demands.
Middle class constituted about 49 per cent of the total tax payees in financial year 2011-12
The airline reported a loss of over Rs 1,000 crore last fiscal which is five times higher than its 2013 loss.
Yes, if you are planning to apply for a loan or want to claim refund
With real estate -- NRIs's favourite investment vehicle in the past -- unlikely to do well in the near future, there is a strong case for NRIs to shift to equity and debt mutual funds, says Prateek Mehta.
After taxpayers file returns, IT department checks them.
TDS merely means the bank will pay you the entire interest amount without forwarding the tax on it to the government.
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).
In more trouble for Finnish mobile firm Nokia, whose immovable assets were attached in an alleged tax evasion case recently, the Income Tax department is set to issue fresh demand notices for payment of taxes to the tune of Rs 1,000 crore (Rs 10 billion).
The cancellation of over a million duplicate or multiple permanent account numbers belonging to the same person or entity may have led to the disappearance of many of those who used to file returns earlier, but now no longer exist, says A K Bhattacharya.
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.
Nokia may now not sell its Chennai unit.
The government has become used to accounting for TDS as its income even though it knows a significant portion needs to be returned as refund
The Income Tax Return Form-1 (Sahaj) will replace the 7-page form, removing a plethora of columns on deductions from income claimed.
If you plan to withdraw money from your corpus regularly to meet expenses, have a portfolio of stable instruments.
A day after his dramatic announcement to quit, Terry Walsh decided to continue as India's chief hockey coach after the country's top sports officials assured him that his concerns will be addressed in a fresh contract.
New ITR form may be simpler, but some changes could stump you.
As per Indian tax laws, bonus in kind paid to the employees could be considered as salary income in the hands of the employees.
Manish Sabharwal tackles 5 criticisms of demonetisation.
The Income Tax department has informed the Delhi High Court that Nokia India and Nokia Corporation owe it Rs 21,153 crore (Rs 211.53 billion) as total tax liability (existing and anticipated), including penalty during a seven-year period from 2006-2013.
Income-tax data released by FinMin after 15 years
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HC restrains Nokia from selling, transferring ownership rights in India.
Because they can easily find them out by analysing your financial transactions.
Disclose foreign assets, redesignate NRO a/c and open a Resident Foreign Currency a/c to park forex earnings
With digital technology, the I-T department's ability to catch tax evaders has increased many times.
Lessors of SpiceJet have in panic taken back some aircraft but if they see fresh investors coming in and taking charge, they are likely to relent and return the planes.
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