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Sebi busts billion-dollar ‘tax evasion shops’ in stock market

SEBIMumbai: Suspecting tax evasion of at least Rs 5,000-6,000 crore, regulator Sebi has clamped down on a large number of organised syndicates who had set up ‘shops’ to convert black [...]

July 22nd, 2015 | Posted in Business,Highlights,Topnews | Read More »

Black money compliance window: Declaration of overseas stash can be done online

money indianNew Delhi:  Those wanting to utilise the recently notified one-time black money compliance window can also use the e-filing facility of the tax department to declare their foreign-based untaxed assets [...]

July 5th, 2015 | Posted in Business | Read More »

All Income Tax refunds to be put directly in bank accounts: CBDT

taxesNew Delhi:  In a step that would bring delight to taxpayers, the Income Tax department has put in motion a new plan which will ensure that any refund on tax [...]

June 23rd, 2015 | Posted in Business | Read More »

Blackmoney: Compliance window to be short and out soon

money indianNew Delhi:  Government is soon expected to notify a “small time” compliance window for those holding undeclared assets or black money abroad to voluntarily declare these to the taxman and [...]

June 22nd, 2015 | Posted in Business | Read More »

Instill fear of jail and social censure in tax evaders: CBDT

taxesNew Delhi: Taxman should instill the fear of “incarceration, loss of liberty and social opprobrium” in tax evaders and prosecute them in large numbers to create a credible deterrence against [...]

June 7th, 2015 | Posted in Business | Read More »

Rs 2 lakh penalty for not answering tax authorities queries

RupeeNew Delhi: Failure to answer questions from the tax department can entail a penalty of up to Rs two lakh from the next financial year under the new black money [...]

May 31st, 2015 | Posted in Highlights,Nation,Topnews | Read More »

I-T dept publishes names of big tax defaulters

Income-Tax-Department_thumbNew Delhi: The Income Tax department today took to the strategy of ‘naming and shaming’ of some large tax defaulters as it published names of 18 entities who owe over [...]

March 31st, 2015 | Posted in Business | Read More »

Black money SIT decides to solve tax treaties’ secrecy puzzle

rupeeThe SIT on black money has decided to look into the contentious issue of secrecy clauses in India’s tax treaties with Switzerland and other countries [...]

June 8th, 2014 | Posted in Nation | Read More »

EC asks CBDT to cancel tax benefits of defaulting parties

Election-Commission-Of-IndiaEC has written to the CBDT seeking cancellation of income tax exemption given to certain political parties as they failed to submit their mandatory expenditure contribution reports [...]

April 16th, 2014 | Posted in 16th Lok Sabha Elections,Nation | Read More »

New PAN cards issued by Income Tax department

Pan CardNew PAN cards issued by the Income Tax department will cost Rs 105, including taxes. [...]

January 28th, 2014 | Posted in Nation,Topnews | Read More »