Income Tax News
Net Direct Tax Collections for 2013-14, up to 17th September 2013 Shows A Growth of 12.5% and Stood At Rs. 2,38,325 Crore as against Rs. 2,11,641 Crore in the Same Period Last Year
19 September 2013 at 11:15Net direct tax collections for the current F.Y. 2013-14, up to 17th September 2013, stood at Rs. 2,38,325 crore as against Rs. 2,11,641 crore in the same period last year showing a growth of 12.5%. Corporate tax collections are Rs. 1,46,610 crore as
CBDT Extended Date for Filing of Applications by Electoral Trusts upto 30th November, 2013
17 September 2013 at 18:34The Central Board of Direct Taxes (CBDT) has permitted Electoral Trusts to file their applications upto 30th November, 2013 in respect of Assessment Year 2014-15 for approval under clause (22AAA) of Section 2 of the Income-tax Act, 1961 (read with P
Opening of the Bank Branches for accepting the advance tax challans for Income Tax and Corporate Tax on September 14 & 15, 2013
14 September 2013 at 12:57RBI/2013-2014/253 DGBA.GAD.No.H – 1739/42.01.029/2013-14 September 13, 2013 The Chairman & Managing Director/The Chief Executive Officer All Agency Banks Dear Sir/Madam, Opening of the Bank Branches for accepting the advance tax ch
Record Management System at CPC, Bengaluru Receives ISO 15489-1:2000 Certification; Becomes First Organization in India and the World to Receive Such Certification
14 September 2013 at 12:21Centralized Processing Center (CPC), Bengaluru, the flagship project of Income Tax Department with M/s.Infosys Limited as the Managed Service Provider, was awarded “ISO 15489-1: 2001” certificate by British Standards Institution (BSI). W
Income Tax Department Sends Letters to Another Batch of 35,000 Non-Filers to File Returns and Pay Taxes Thereon; Letters Issued in 2,45,000 Cases So Far
14 September 2013 at 12:21As part of a massive exercise to identify high risk non-filers of Income Tax returns and ask them to file returns and pay taxes thereon, the Income Tax Department has sent letters to another batch of 35,000 non-filers this week. These persons were p
Income Tax Surveys at Jaipur Result in Detection of Undisclosed Income of Rs. 118 Crore
07 September 2013 at 13:21A Survey action was conducted by the Income Tax Department at Jaipur on 03.09.2013 in the case of a leading Builder and Developer of Jaipur which resulted in the detection of the additional income of Rs. 95.14 crores. The assessee not only admitted
Direct Tax Collections for August Quarter up by 14.43% and Stood at Rs. 1,88,193 Crore as Against Rs. 1,64,463 Crore in the Same Period Last Year
06 September 2013 at 12:14Gross direct tax collections during April-August of the Financial Year 2013-14 is up by 14.43 percent at Rs.1,88,193 crore as against Rs. 1,64,463 crore in the same period last year. While gross collection of Corporate taxes has shown an increase of
Tax Evasion by Foreign Companies
31 August 2013 at 13:36Data on dollars transferred abroad by foreign companies in India is not centrally maintained by the government. However, with a view to prevent shifting of profits out of India and consequent erosion of the Indian tax base, selected international t
Online Monitoring of Evasion of Taxes
31 August 2013 at 13:35Under the provisions of the Prevention of Money Laundering Act, 2002 and the rules framed there under, it is the responsibility of the banks and other financial institutions to detect suspicious transactions and report such transactions to the Finan
Government Sets-up Tax Administration Reform Commission Under Dr. Parthasarathy Shome
26 August 2013 at 16:16In his Budget Speech 2013-14 in the Parliament on 28.02.2013, the Finance Minister had announced as under: “An emerging economy must have a tax system that reflects best global practices. I propose to set-up a Tax Administration Reform
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