Tag archive for ‘Tax’
By Loknath Das On Tuesday, February 20th, 2018
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Forgot to verify your income tax return? Here’s help

To complete the income tax returns (ITR) filing process, an individual is required to verify the return filed by him. The return must be verified within 120 days of filing. Verification can be done digitally More...

By Loknath Das On Tuesday, February 20th, 2018
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Income Tax Raided Nirav Modi Firms In January Last Year: Sources

Jeweller Nirav Modi has been accused of defrauding Punjab National Bank of Rs. 13,400 crore Nirav Modi, the celebrity diamond designer blamed for one of the country’s largest bank fraud, had been raided More...

By Loknath Das On Tuesday, February 20th, 2018
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Rotomac Bank Fraud: Income Tax Department Attaches 11 Bank Accounts

The CBI had registered a case against Rotomac company, its Director Vikram Kothari, his wife and son. NEW DELHI:  After the CBI and the ED, the Income Tax Department has stepped up action against the Rotomac More...

By Loknath Das On Tuesday, February 6th, 2018
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Don’t misuse I-T laws, tax rates already low: CBDT to industry

CBDT Chief Sushil Chandra today asked the industry to refrain from misusing provisions of laws to evade taxes, saying the effective tax rate for big companies is already 26 per cent on account of various exemptions. He More...

By Loknath Das On Tuesday, January 30th, 2018
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Budget 2018: Rate of Income tax in top 10 countries by GDP

crescendo, taxpayers are concerned about the new income tax slabs that will be announced on February 1 as these slabs would determine the amount an individual will have to pay as taxes on their income in FY19. Currently, More...

By Loknath Das On Tuesday, January 30th, 2018
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Income Tax Department busts refund fraud, claims nexus between employees of top companies, CA

The Income Tax Department today claimed to have busted a racket of extracting fraudulent tax refunds by employees of bellwether companies like IBM, Vodafone and Infosys in alleged connivance with a Chartered More...

By Loknath Das On Tuesday, January 30th, 2018
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Budget 2018: Income Tax Slabs, Rates And Useful Deductions

Under the Income Tax Act, there are many exemptions that can reduce your tax liability. In Budget 2018, Finance Minister Arun Jaitley is expected to announce some income tax relief for the middle class. The More...

By Loknath Das On Thursday, January 18th, 2018
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GST Council cuts tax rates on 29 items, discusses simpler return-filing process

The Goods and Services Tax Council (GST Council) on Thursday cut tax rates on 29 products and 54 services at its 25th meeting and agreed to make the process of filing tax returns simpler. At the meeting chaired More...

By Loknath Das On Saturday, January 13th, 2018
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Tax Officials Find Secret Letter On The Gutka Scam In Sasikala’s Room

The Income Tax officials raided Sasikala’s residence in Poes Garden in November last year CHENNAI:  The Income Tax department has told the Madras High Court that its confidential letter seeking action More...

By Loknath Das On Monday, November 6th, 2017
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Paradise Papers: EU to discuss blacklist of tax havens

At the moment, each EU country has its own list of jurisdictions that are seen as less cooperative on tax matters. Photo: Bloomberg Brussels: European Union (EU) finance ministers will on Tuesday discuss setting More...