Black Money

ITAT Amritsar: No Section 269SS Violation for One-Time Cash Payment Before Sub-Registrar 6 min read

• Income Tax

ITAT Amritsar: No Section 269SS Violation for One-Time Cash Payment Before Sub-Registrar

Rajbir Chawla 9 months ago

The ITAT Amritsar ruled that a one-time cash payment exceeding ₹20,000 made before a sub-registrar during property registration does not violate Section 269SS of the Income Tax Act.... Read More

Income tax department can reopen old cases, even upto ten years, in case of big deals 3 min read

• Income Tax

Income tax department can reopen old cases, even upto ten years, in case of big deals

Baisakhi Ganguly 9 years ago

As per the memorandum of the Finance Bill 2017, the Income tax department can reopen old cases and the books of accounts of an assessee... Read More

Income tax department to use analytics to look for discrepancies in bank accounts and select Income Tax Returns for Scrutiny 3 min read

• Income Tax

Income tax department to use analytics to look for discrepancies in bank accounts and select Income Tax Returns for Scrutiny

Sourav 9 years ago

It’s the first time in the Indian history that the income tax department, India will be using big data analytical tools to seek through the personal... Read More

The New Income Declaration Scheme – Another Chance to disclose unaccounted money 2 min read

• Income Tax

The New Income Declaration Scheme – Another Chance to disclose unaccounted money

Sourav 9 years ago

The government has introduced the new income declaration scheme in the Lok Sabha, to give the black money hoarders a further opportunity to disclose their... Read More

Income Tax Amendment Bill for demonetized black money 3 min read

• Income Tax

Income Tax Amendment Bill for demonetized black money

Akanksha 9 years ago

Following the announcement of declaring specified bank notes “as not legal tender”, it is felt that instead of allowing people to find illegal ways of... Read More

Black money conversion – talk of the town- Is your method fool proof 7 min read

• Income Tax

Black money conversion – talk of the town- Is your method fool proof

Akanksha 9 years ago

Black money is basically the money that has not gone under the scrutiny of the tax department and somehow has been kept aloof from money... Read More

Withdrawal of Rs 500 and Rs 1000 Currency Notes- understand consequences of exchanging with fresh currency 6 min read

• Income Tax

Withdrawal of Rs 500 and Rs 1000 Currency Notes- understand consequences of exchanging with fresh currency

Manager 9 years ago

Withdrawal of currency notes of Rs 500 and Rs 1000 from circulation can have serious impact on some assesses. The scheme of withdrawal of these... Read More

I-T Department to Examine 60 cases in Foreign Asset, Details Found Mismatched in Disclosure 2 min read

• Income Tax

I-T Department to Examine 60 cases in Foreign Asset, Details Found Mismatched in Disclosure

Garima Jalali 9 years ago

I-T department to examine 60 cases in foreign asset as tax authorities have found a mismatch in disclosure. Indian Government has had long discussions on... Read More

What if Income Disclosure scheme 2016 fails to collect sizable black money 2 min read

• Income Tax

What if Income Disclosure scheme 2016 fails to collect sizable black money

Rajbir Chawla 9 years ago

As on date, no data is being shared by Government as to what has been the result of the Income Declaration Scheme (IDS), 2016. This... Read More

Would those missing deadline of Income Declaration Scheme 2016 face Raid-Raj by Income Tax Department 3 min read

• Income Tax

Would those missing deadline of Income Declaration Scheme 2016 face Raid-Raj by Income Tax Department

Rajbir Chawla 9 years ago

From various speeches in various forums by Prime Minister, Narender Modi and Finance Minister, Arun Jaitley, one can sense the focus that the Government is... Read More