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The Aakar Patel column: Don't blame the Indian state for

May 15, 2016

The Aakar Patel column: Don't blame the Indian state for "black" economy, blame yourself

We will continue to have a large 'black' economy, as long as other Indians don't pay tax. Our behaviour has to change if we are to make our country great. #GDP #InMyOpinion #Direct Taxes #Income tax #MIddle Class #Black economy #BRICS countries #Indian Tax Payers #OECD nations
Ultra-rich must declare cost price of expensive assets: CBDT

May 04, 2016

Ultra-rich must declare cost price of expensive assets: CBDT

People with annual income of over Rs 50 lakh will have to disclose the acquisition cost of all the assets like land, building and jewellery in the Income Tax return forms for assessment year 2016-17. #CBDT #Income tax #ITR #Revenue Secretary Hasmukh Adhia #ultra rich people #assessee #disclosure of luxury items
Income from unlisted share sale to be taxed as capital gain

May 03, 2016

Income from unlisted share sale to be taxed as capital gain

Income from sale of unlisted shares would be treated as capital gains and taxed at a lower rate than business income to have a uniform approach and avoid litigations, the Income Tax department has said. #CBDT #Income tax #Capital Gains #sale of unlisted shares
EC seizes Rs 12 crore illegal cash in West Bengal

Apr 17, 2016

EC seizes Rs 12 crore illegal cash in West Bengal

The cash seizures in West Bengal and other states were made by EC-appointed special flying squads and surveillance teams and Income Tax officials. #Politics #Tamil Nadu #NewsTracker #Election Commission #West Bengal #Income tax #States #EC #polls #illegal cash #2016 Assembly Election #Assembly Election 2016
Cairn faces Rs 10,247-cr fine in addition to Rs 29k cr tax demand

Apr 07, 2016

Cairn faces Rs 10,247-cr fine in addition to Rs 29k cr tax demand

British oil explorer Cairn Energy Plc faces up to Rs 10,247-crore penalty over and above the Rs 29,000 crore in tax and interest demand slapped on it by the I-T Department using a retrospective legislation. #Interest #Income tax #Cairn India #Penalty #Finance Minister Arun Jaitley
#PanamaPapers: Action will be taken against unlawful accounts abroad, says Jaitley

Apr 04, 2016

#PanamaPapers: Action will be taken against unlawful accounts abroad, says Jaitley

Government today declared that action will be taken against "unlawful" accounts held abroad by Indians and constituted a multi-agency group to continuously monitor information in the wake of Panama Papers that named 500 people including film actors and industrialists who have allegedly stashed money in offshore entities. #Black money #Finance minister #CBDT #Arun Jaitley #Income tax #Panama Papers #Mossack Fonseca #offshore entities