Do you want to keep an Arm’s Length Distance from the Income Tax Department? Obviously the Answer is YES!!! But the question here is HOW??? Here are a list of expenses/ investments, which at any point of time performed by Read More …
Category: Income tax
*Income tax Summons, Survey, Search (आयकर के छापे संबंधी महत्वपूर्ण जानकारी)*
*सावधान!!! अगर आपने पिछले कुछ वर्षो में अपने बैंक खातो में बडीें रोकड रकम जमा करी है, बिना PAN दिये Fixed deposit, Current Account खोले है, Penny stock से Capital Gain कमाया है, Bogus Purchase या खर्चे के बिल, loan Read More …
Operation Clean Money
Income Tax Department (ITD) has initiated Operation Clean Money, today. Initial phase of the operation involves e-verification of large cash deposits made during 9th November to 30th December 2016. Data analytics has been used for comparing the demonetisation data with Read More …
Union Budget 2017 Highlights
Total Budget of Rs. 21.47 Lakh crores for 2017-2018. Increase in Direct Tax collection by 34% after demonetization. Holding period for LTCG for Land & Building reduced to 2 years. FIPB abolished. Welcome move for Foreign Investment in India Carried Read More …
INDIRECT TAXES UPDATES
SERVICE TAX Amendments effective from 02.02.2017 Amendment in Mega Exemption Notification No. 25/2012 ST dated 20.06.2012 Services provided or agreed to be provided by the Army, Naval and Air Force Group Insurance Funds by way of life insurance to members Read More …
Cash Deposit Verification Guidelines given by CBDT to Assessing Officers
Cash Deposit Verification Guidelines given by CBDT to Assessing Officers[Instruction No. 3/2017 dated 21-02-2017]: 1. In case of an individual (other than minors) not having any business income, no further verification is required to be made if total cash deposit Read More …
Income tax Updates
The Lok Sabha passed the Finance Bill, Starting from April 1, 2017: A) The tax rate on income between Rs. 2.5-5 lakh will be 5 per cent from 10 per cent. B) A 10 per cent surcharge for individuals having Read More …