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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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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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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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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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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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 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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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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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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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 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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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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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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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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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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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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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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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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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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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 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 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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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 dept officers to suggest changes in direct tax laws
Posted Date : 25-Aug-2016 , 10:53:09 pm | Posted By CASANSAAR
In a bid to keep nation's tax laws in conformity with changing times, the Income Tax Department has created a permanent mechanism for seeking inputs from its officers for changes required in the direct tax regulations.
To begin with, the I-T Department has asked officials to provide suggestio...
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FinMin mulling advancing Union Budget by a month
Posted Date : 22-Aug-2016 , 08:01:35 am | Posted By CASANSAAR
The Union Budget has for decades been presented on the last day of February, but this could soon change with the government mulling advancing it to January-end, to complete the exercise before the beginning of the new financial year.
The finance ministry is overhauling the Budget-making exercise,...
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Clarification regarding the Income Declaration Scheme 2016
Posted Date : 19-Aug-2016 , 10:52:58 pm | Posted By CASANSAAR
Fifth Set of Frequently Asked Questions (FAQs) was issued yesterday clarifying certain issues relating to Income Declaration Scheme,2016 (the Scheme). Clarification has been sought as to whether the answer number 4 of the said FAQ shall apply to all assets declared under the Scheme or it is limited ...
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New updated Version of Income Tax Return Statistics for Assessment Year 2012-13 released
Posted Date : 19-Aug-2016 , 10:52:07 pm | Posted By CASANSAAR
Central Board of Direct Taxes (CBDT) had proactively released data relating to direct tax collections, PAN allocation and distribution of income in the returns for AY 2012-13 earlier in April, 2016.
A new version of the income distribution data for AY 2012-13 has now been placed in pu...
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Approval of Eligible Projects or Schemes under Section 35AC of the Income Tax Act, 1961
Posted Date : 19-Aug-2016 , 10:51:24 pm | Posted By CASANSAAR
Section 35AC of the Income Tax Act 1961, inter alia provides for a deduction in computing the business income of an assessee, of the amount paid by him to a Public Sector company or a local authority or to an association or institution approved by the National Committee for carrying-out any eligible...
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Fifth set of FAQs providing clarification on various issues under the IDS 2016
Posted Date : 18-Aug-2016 , 10:37:42 pm | 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. Income Declaration Scheme Rules, 2016 (the Rules) were notified on 19.5.2016. Representations have been receiv...
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