New Delhi, May 21
The Government today said it would send letters to 70,000 “high priority” assessees this month asking them to disclose their true income and pay taxes in the current financial year.
May 19, 2013
Now, the taxpayer can use the TRC as issued in the home country and provide other documents as prescribed. »
May 18, 2013
The term high net worth individuals (HNIs) is often used loosely for the so-called super-rich. But there is no official definition of HNIs under the Income tax Act. The Finance Minister...
New Delhi, May 12
The Delhi High Court has set aside two Income Tax notices ordering reopening of income assessment of BSNL for 2001-02 and 2002-03 on the grounds that the telecom PSU escaped assessment by...
New Delhi, May 7
Norms to apply to non-salaried HNIs »
Hyderabad, May 6
The Federation of Andhra Pradesh Chambers of Commerce and Industry is organising an open forum with senior tax authorities on issues related to income-tax at its office on May 10. Bibhab...
Mumbai, May 3
Media and entertainment production house Balaji Telefilms has reportedly evaded income-tax to the tune of Rs 30 crore by inflating expenses. Swatantra Kumar, Director-General, and Income Tax Depar...
April 28, 2013
There were growing instances of buyers and sellers failing to quote Permanent Account Number (PAN), which is mandatory for property transactions above stipulated limits. To set up a mechanism to b...
New Delhi, May 22
The Finance Ministry’s initiative to track non-filers of income tax returns seems to be yielding dividends for the exchequer. The Income-Tax Department mopped up taxes of over Rs 600 cro...
Bangalore, May 19
Infosys has been slapped a fresh Rs 582 crore ($106 million) tax demand notice by the Income tax department. According to a filing to the SEC, India’s second largest software exporter ha...
New Delhi, May 19
Income Tax department has slapped a fresh $106 million (about Rs 582 crore) tax demand notice on Infosys, for 2009 fiscal, adding to the tax woes of India’s second largest IT firm.The Banga...
Mumbai, May 15
Shortlists IL&FS Tech, NSDL to implement Rs 50-cr project
May 11, 2013
To plan their taxes and maintain a regular flow of income, HNIs are now forming Trusts.
New Delhi, May 6
Finland-headquartered Nokia has invoked the mutual agreement procedure (MAP) under the India-Finland Double Taxation Avoidance Agreement, to resolve the Rs 2,000-crore tax dispute with the Indian...
Kolkata, May 4
Tax experts have filed 55,000 exchange of information applications with the Union Government on the black money issue, whereas India received about 33,000 such applications from fo...
New Delhi, May 2
Foreign institutional investors (FIIs) and qualified foreign investors (QFIs) have cause for cheer. Finance Minister P. Chidambaram on Tuesday slashed tax deduction at source on in...
New Delhi, April 23
After Nokia and Royal Dutch Shell, the Income Tax department has sent a demand notice to Microsoft’s Indian arm, which said it has challenged the same.
I-T department reportedly sent noti...