A list of 498 Indians are among the in a database of one lakh offshore entities in tax havens owned by various person of world have been released and is downloadable.The release of the information is from a database which is part of a cache of 2.5 million leaked offshore , currently in possession of [...]
The declaration in Form 15G is the single most common form for all who wants to prevent TDS on interest paid by banks and other financial companies.Certain changes have been brought in by CBDT recently as the format for Form 15G & Form 15H have been changed. This website has prepared a video on rules [...]
The Union Cabinet today approved the proposal of restructuring of income tax department by creation of 20,751 additional posts in various cadres that is 1349 additional posts in the IRS cadre and 19,402 additional posts in the non-IRS cadres. An additional expenditure of Rs 449.71 crore per annum is likely to be incurred on creation of additional posts [...]
Form 16 is likely to be issued to employees by both government and non government employers for tax deducted during FY 2012-13 . CBDT has issued ISSUE OF PART A OF FORM NO. 16 FOR DEDUCTION OF TAX AT SOURCE MADE ON OR AFTER 1-4-2012: All deductors (including Government deductors who deposit TDS in the [...]
Offshore tax havens are in great topics all over the world. The foundation of rich countries are shaking because of recent downturn in the economy .countries economy . So every country , bet Germany or France or USA or UK are suddenly became proactive towards tax evasion and the tiny tax havens which are the [...]
An IRS ( Indian Revenue Officer ) on deputation to the Commonwealth Games Organising Committee (OC) deposed before a trial court hearing the CWG SCam case , that sacked OC chairman Suresh Kalmadi had pressurised him to reject the bid of Spain’s MSL and choose Swiss Timing for TSR system. Media reports suggest that Sri [...]
Income tax department has alleged that through hawala transactions,Rs 7,222 crore worth of fake bills had been presented by 189 assessees in Mumbai and Pune in their returns in order to artificially deflate taxable income.It is alleged that these 189 assessees are among the 25,000 hawala beneficiaries from the construction, pharmaceuticals, chemicals and steel sectors. [...]
[ic_spinrewriter]Speaking exclusively to TIMES NOW's Editor-in-Chief Arnab Goswami and Political Editor Navika Kumar on the Budget 2013, Telecom Minister Kapil Sibal cited that foreign companies are eager to come to India and the opposition is reflecting negativity.[/ic_spinrewriter]...
Budget 2013 video interview shown as speaking exclusively to TIMES NOW's Editor-in-Chief Arnab Goswami senior BJP leader Yashwant Sinha indicated that BJP is disappointment over the general budget, saying it shows little for the common man. He also claimed that the budget has failed to chart a road map to encourage key sectors like infrastructure,...
Media reports suggest that the Central Bureau of Investigation (CBI) has arrested an Income Tax officer in Ahmedabad for demanding a accepting a bribe of Rs.10,000 from a businessman.A complaint was made by the businessman that the officer had allegedly demanded the bribe for issuing him a tax exemption cerificate for donations he had made to a private trust. A CBI press release said the agency laid a trap [...]
Ahead of the Union Budget 2013, what’s likely to happen on the taxation front. Experts, Mukesh Butani, chairman of BMR Advisors; BM Singh, former chairman of Central Board of Direct Taxes; S. Gayathri, member of Confederation of Indian Industry’s (CII) National Committee on Direct Taxes and head of tax and regulatory at Essar Energy, and...