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Income tax

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Tax evader crackdown justified if it is PM Modi's last amnesty scheme

Jul 22, 2016

Tax evader crackdown justified if it is PM Modi's last amnesty scheme

Arguably, there was never a time in the past when black money holders were given such relaxed terms to disclose their ill-gotten wealth. #Narendra Modi #Tax evasion #Income tax #Amnesty Scheme #Black money holders
Income Tax dept identifies 90 lakh high value transactions without quoting PAN

Jul 22, 2016

Income Tax dept identifies 90 lakh high value transactions without quoting PAN

The high-value transaction trails were detected following the department’s drive to bring to book maximum amount of black money during the one-time compliance window closing on September 30 #finance ministry #AIR #Income tax #Revenue Secretary #PAN #IDS #Annual Information Returns #saving bank account #Unique Transaction Sequence Number
Taxing India's digital readiness: here's what you need to know on the equalization levy

Jul 18, 2016

Taxing India's digital readiness: here's what you need to know on the equalization levy

Given the sweeping definition of ‘specified services, it appears that the equalization levy scope is expected to expand gradually in due course #World Bank #Income tax #Prime Minister Narendra Modi #Finance Minister Arun Jaitley #BEPS #equalization levy
#SupportGST: 'Isolate Congress if it does not want to pass Bill'

Jul 18, 2016

#SupportGST: 'Isolate Congress if it does not want to pass Bill'

The GST has been in waiting for long and putting this in place is the prime national responsibility of Parliament in transforming India and putting her on a high growth path and accelerate job creation. #China #GDP #Congress #IMF #Mohandas Pai #Income tax #GST #parliament #VAT
Indiabulls group stocks tank up to 7% after I-T dept raids offices over tax evasion

Jul 13, 2016

Indiabulls group stocks tank up to 7% after I-T dept raids offices over tax evasion

Officials said the searches covered multiple premises of the firm in Mumbai and Delhi after the department received "actionable evidence" to mount the action. #NewsTracker #Tax evasion #Income tax #Indiabulls #Indiabulls Housing Finance #Indiabulls Wholesale Services
Cairn Energy claims $5.6 bn compensation from Indian govt

Jul 12, 2016

Cairn Energy claims $5.6 bn compensation from Indian govt

It sought $1.05 billion in compensation for the loss of value its 9.8 percent shareholding in its erstwhile subsidiary Cairn India suffered following Income Tax Department raising the tax demand in January 2014 and attaching the shares #Cairn Energy #Income tax #Cairn India #I-T Department #compensation #retro tax
Panama papers: Income Tax dept approaches a dozen nations to widen probe

Jul 10, 2016

Panama papers: Income Tax dept approaches a dozen nations to widen probe

Faced with resistance in disclosures by those named in the Panama Papers, the Income Tax department has made foreign references to about a dozen countries in order to obtain actionable evidence against such Indian entities. #India #NewsTracker #Switzerland #Income tax #Panama Papers #British Virgin Island #Panama probe
Come clean by Sept 30: Jaitley to black money holders

Jun 28, 2016

Come clean by Sept 30: Jaitley to black money holders

The Income Declaration Scheme or IDS, which opened on June 1, allows domestic black money holders to declare ill-gotten wealth, pay a total of 45 per cent in tax and penalty and escape prosecution. #Black money #CBDT #Income tax #CAS #Finance Minister Arun Jaitley #Commerce Minister Nirmala Sitharaman #Power Minister Piyush Goyal #Income Declaration Scheme #industry chambers
'Come clean before 30 Sept': PM Modi cautions tax evaders on Mann Ki Baat

Jun 26, 2016

'Come clean before 30 Sept': PM Modi cautions tax evaders on Mann Ki Baat

Modi's message is aimed more towards those who thrive on illegal incomes and avoid the tax net, leading happy lives at the expense of national development. #Narendra Modi #ConnectTheDots #Rajiv Gandhi #Tax evasion #Income tax #VP Singh #Mann Ki Baat #capitalist