Income Tax dept to intensify anti-black money operations
Posted Date : 24-Oct-2016 , 09:13:39 am | Posted By CASANSAAR
With both the one-time black money declaration windows concluded, the Income Tax department is set to intensify its crackdown against stash holders after a recent case where an IDS participant surrendered a fresh Rs 30 crore of unaccounted wealth to the taxman after raids were conducted against him....
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IT Department giving Income Tax Certificate of Appreciation for Encouraging Tax payers
Posted Date : 19-Oct-2016 , 07:54:29 am | Posted By CASANSAAR
Central Processing Centre (CPC) of IT Department are issuing the certificate of Appreciation through the registered e-mails of the prompt tax payers.
Such an idea is delivered from the Central Finance Ministry. Arun Jaitley, on 19th Sep 2016, handed over these certificates to some of the selected...
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Income Tax |
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Income Tax department is sending out thank you notes - Did you get one?
Posted Date : 12-Oct-2016 , 08:16:25 am | Posted By CASANSAAR
The income tax department has come to acquire an image of an agency that has usually harassed taxpayers, including the honest ones. But recently several individuals were surprised to receive a 'Certificate of Appreciation' in their mailbox, with some even mistaking it for a spam mail.
...
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Income Tax |
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Tax from IDS to cushion spectrum bid shortfall - FM
Posted Date : 11-Oct-2016 , 11:06:43 am | Posted By CASANSAAR
Tax collected under the country's biggest black money disclosure will help cushion revenue shortfall from the sale of telecom spectrum and help manage the fiscal situation, Finance Minister Arun Jaitley said today.
As much as Rs 65,250 crore of undisclosed assets were brought to light during ...
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Income Tax |
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HC ordered ICAI to suspend CA Firm for issuing False Certification
Posted Date : 06-Oct-2016 , 08:39:05 am | Posted By CASANSAAR
A division bench of the Hyderabad High Court has ordered the Institute of Chartered Accountants of India (ICAI) to suspend a Firm of Chartered Accountants for issuing a false certification to a business firm which enabled the promoters to squander public money by inducing the general public to subsc...
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Income Tax |
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IDS 2016 Declarations Cross Rs.71,000 Cr - ICAI
Posted Date : 05-Oct-2016 , 08:08:35 am | Posted By CASANSAAR
The CA Institute on Tuesday said that as per the latest information available with the Institute total declarations made under the ‘Income Declaration Scheme’ 2016 has crossed Rs.71,000 crore.
M Devaraja Reddy, President, Institute of Chartered Accountants of India (ICAI), told at p...
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Income Tax |
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CBI arrests Income Tax officer in bribery case
Posted Date : 04-Oct-2016 , 08:46:31 pm | Posted By CASANSAAR
CBI has arrested an Income Tax officer for allegedly accepting a bribe of Rs 3 lakh and demanding Rs 5,000 as additional illegal gratification for his staff. A CBI spokesperson said in Delhi that the officer and his staff member were arrested from Mumbai.
“A case was registered U/...
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Income Tax |
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CAG lens on entities avoiding tax with ‘farm income’ claim
Posted Date : 03-Oct-2016 , 10:08:33 pm | Posted By CASANSAAR
The comptroller and auditor general has initiated an audit of entities claiming tax exemption on agricultural income amid suggestions from some political parties and income tax authorities that a blanket exemption be done away with and tax be levied after a threshold.
The auditor has written to t...
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Income Tax |
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Kareena Kapoor Khan's income tax account hacked, returns filed
Posted Date : 03-Oct-2016 , 12:52:09 pm | Posted By CASANSAAR
Bollywood actor Kareena Kapoor Khan on Friday filed a complaint against an unidentified person for allegedly hacking into her Income Tax account and filing a false return claim.
The cyber police station in BKC has registered a case and a probe is on to identify and trace the accused.
Police so...
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Income Tax |
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IDS - 64,275 declarants disclose Rs 65,250 cr black money - FM
Posted Date : 01-Oct-2016 , 10:36:41 pm | Posted By CASANSAAR
In the biggest ever blackmoney disclosure, at least Rs 65,250 crore of undisclosed assets were declared in the one-time compliance window, yielding Rs 29,362 crore in taxes to the government.
While the blackmoney declarations will go up once all the online and manual filings of undisclosed ...
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Income Tax |
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IDS - Rs 65,000 Cr and counting
Posted Date : 01-Oct-2016 , 07:34:39 am | Posted By CASANSAAR
The Capital’s tallest building, the 28-storey Civic Centre near the New Delhi Railway Station, is hardly a hub of action on a weekend night. But September 30 was not like any other Friday evening. It was the last day of the government’s Income Declaration Scheme (IDS). And hours before t...
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Income Tax |
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PM asks IT Dept to set up mechanism to address grievances of taxpayers
Posted Date : 28-Sep-2016 , 08:11:49 pm | Posted By CASANSAAR
Prime Minister Narendra Modi has asked the Income Tax Department to set up a mechanism to address the grievances of taxpayers. Mr Modi today reviewed the progress towards handling and resolution of grievances related to income tax administration and expressed concern over the grievances.
Interact...
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Income Tax |
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IDS: Tax offices to remain open till 8:00 PM on Sept 28, 29
Posted Date : 28-Sep-2016 , 08:10:57 pm | Posted By CASANSAAR
CBDT extends Working Hours till 8.00 pm on 28th& 29th September, 2016 for IDS Declarations; On 30th September, such declarations can be filed till midnight.
In order to further facilitate the filing of declarations under the Income Declaration Scheme, 2016, the Centr...
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Income Tax |
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Income Tax Department unravel Rs 1200 cr undisclosed income
Posted Date : 23-Sep-2016 , 08:00:39 am | Posted By CASANSAAR
Kerala seems to be hot spot when it comes to Income tax (IT) evasion as sleuths traced out undisclosed income worth Rs 1200 in first 6 months of this year alone.
The IT officials claimed that they had eventful period with high number of searches and seizures carried out in 2016.
As per the pre...
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Income Tax |
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Former Kingfisher CFO gets 18-mnth imprisonment in cheque bounce cases
Posted Date : 22-Sep-2016 , 09:19:37 pm | Posted By CASANSAAR
A Hyderabad court on Thursday sentenced A Raghunathan, former CFO of Kingfisher Airlines Ltd and a close aide of businessman Vijay Mallya, to 18 months imprisonment in connection with two cheque bounce cases.
The Third Special Magistrate Court at Erram Manzil also imposed a penalty of Rs 20,000 o...
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Income Tax |
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Black money - Income Tax department raids vada pav, jalebi Stalls
Posted Date : 22-Sep-2016 , 11:47:30 am | Posted By CASANSAAR
With the deadline for payment of tax and penalty under the black money disclosure scheme less than two weeks away, the Income-Tax (IT) department has now raided several small businesses including vada pav and jalebi stalls.
According to Economic Times, the IT department raided about 50 vada pav c...
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Income Tax |
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Cabinet approves Agreement between India and Samoa for exchange of information with respect to Taxes
Posted Date : 21-Sep-2016 , 07:21:36 pm | Posted By CASANSAAR
The Union Cabinet under the Chairmanship of Prime Minister Shri Narendra Modi has given its approval for signing and ratification of Agreement between India and Samoa for the exchange of information with respect to Taxes.
The Agreement will stimulate the flow of exchange of inform...
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Income Tax |
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Income Tax Department To Honour Honest Taxpayers
Posted Date : 16-Sep-2016 , 06:56:51 am | Posted By CASANSAAR
In a novel initiative revived after decades, the Central Board of Direct Taxes (CBDT) will soon honour lakhs of "honest and compliant" taxpayers from across the country who have paid their income tax dues diligently over the years.
CBDT, the apex the policy-making body of the Income Tax...
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Income Tax |
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IDS: I-T offices to be open till midnight on Sep 30
Posted Date : 15-Sep-2016 , 10:15:02 pm | Posted By CASANSAAR
The taxman will undertake a midnight vigil on September 30 as CBDT has directed the Income Tax department to keep their offices country-wide open in order to receive declarations under the domestic black money window - the Income Declaration Scheme (IDS).
"The last date for making decl...
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Income Tax |
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Govt says info under domestic black money scheme confidential
Posted Date : 15-Sep-2016 , 10:12:05 pm | Posted By CASANSAAR
Government today said information about those who declare their black money under the compliance window, ending September 30, will be kept confidential.
As regards concerns regarding confidentiality of the information filed under the scheme, it is reiterated that information contained in a ...
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Income Tax |
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I.Tax Dept asks declarants to hurry as blackmoney window nears end
Posted Date : 10-Sep-2016 , 10:06:44 pm | Posted By CASANSAAR
The Income Tax department on Saturday said those holding potential black money should hurry up and declare their stash funds under the one-time domestic compliance window as only 20 days are left for the Income Declaration Scheme (IDS) to close.
“The Income Declaration Scheme closes on 30.0...
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Income Tax |
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ITR Due Date for tax payers whose accounts are required to be audited extended to 17 Oct.
Posted Date : 09-Sep-2016 , 07:45:20 pm | Posted By CASANSAAR
Due date for filing of Income tax returns by tax payers whose accounts are required to be audited under IT Act has been extended to 17th Oct.
Authentic News.
#casansaar(Tweet by Ministry of Finance)...
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Income Tax |
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CBDT launches 'e-nivaran' facility to resolve income tax grievances
Posted Date : 08-Sep-2016 , 09:45:39 pm | Posted By CASANSAAR
CBDT has launched the ambitious 'e-nivaran' facility for online redressal of taxpayers' grievances related to refunds, ITRs and PAN among others as part of its initiative to reduce instances of harassment of the public when it comes to complaints related to the I-T Department.
A...
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Income Tax |
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RBI asks IT assesses in national capital to pay advance dues
Posted Date : 07-Sep-2016 , 10:58:22 am | Posted By CASANSAAR
The Reserve Bank of India said there is a rush for remitting income tax dues at the Reserve Bank and other bank authorised to collect income tax towards the end of March/June/September/December is heavy.
It becomes difficult for the RBI to cope up with the pressure of receipts although additional...
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Income Tax |
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IDS 2016 – Government issues Clarifications in the form of Sixth Set of FAQs
Posted Date : 06-Sep-2016 , 07:39:12 am | Posted By CASANSAAR
The Income Declaration Scheme, 2016 (the Scheme) provides an opportunity to persons who have not paid full taxes in the past to come forward and declare their undisclosed income and assets. The Scheme has come into effect from 1.6.2016 and is open for declarations up to 30.9.2016. The Income Declara...
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Income Tax |
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Firms were made to deposit service tax under COERCION - HC
Posted Date : 02-Sep-2016 , 08:35:31 am | Posted By CASANSAAR
In a strong order against central excise authority, Delhi High Court asked it to refund the service tax amount paid by three travel portals soon, observing that these firms were made to deposit the money under "coercion and duress" through the "unwarranted" arrest of some of thei...
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Income Tax |
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CBDT issues closure of financial accounts of Income-tax rules
Posted Date : 01-Sep-2016 , 07:55:10 am | Posted By CASANSAAR
The Inter-Governmental Agreement (IGA) with USA for implementation of FATCA entered into force on 31st August, 2015. Under the alternative procedure provided in Rule 114H(8) of the Income-tax Rules, 1962, the financial institutions need to obtain the self-certification and carry-out due diligence pr...
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Income Tax |
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Income Tax Assessing Officers Asked To Share Email ID, Phone Number
Posted Date : 31-Aug-2016 , 07:30:30 am | Posted By CASANSAAR
The Central Board of Direct Taxes (CBDT) has directed the income tax assessing officers (AO) to mention their email IDs and telephone numbers in all the notices issued by them to the taxpayers, after several assesses complained to it that they were unable to communicate with taxman over the internet...
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Income Tax |
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Income Tax department to name and shame chronic crorepati defaulters
Posted Date : 29-Aug-2016 , 11:57:43 pm | Posted By CASANSAAR
As part of its ‘naming and shaming’ policy to curb tax evasion, the Income Tax Department may soon go on to publish names of even those taxpayers who have a ‘chronic’ default of Rs.1crore and above.
Officials said the policy framework for putting the names of such e...
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Income Tax |
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Provide/update PAN details to avoid blocking of e-filing account by the Income Tax Dept - ICAI
Posted Date : 25-Aug-2016 , 11:55:30 pm | Posted By CASANSAAR
It has been noticed that the Income Tax Department has blocked/ disabled the e-Filing account of the members whose correct PAN details are not available with the Department.
Upon following with the Income Tax Department, it has been informed that the blocking and disablement of the E-filing Accou...
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Income Tax |
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