Page 30 - Latest Updates on Income tax

Tough to use tax rulings to your advantage

HC or tribunal verdicts aren't the final word in disputes, but you can use them to persuade the assessing officer

Didn't quote PAN with high-value transactions? Read this

Remember, the onus is on you to prove that income has been declared and tax has been paid

Did you get income-tax notice? Explain high-value transactions with ease

Remember you need to have all the documents to prove that tax has been paid on income that has been used to make investments or purchase of property

I-T dept floats draft rules on taxing income

The Finance Act, 2016 has changed the definition of distributed income on which tax will be imposed

Assets without records add to taxpayers worries

Govt has issued a new set of income tax return (ITR) forms that require people with an annual income of Rs 50 lakh and more to disclose their assets by July 31

How government is targeting big income tax evaders

Tax evaders can come clean by using the IDS by paying 30 per cent tax, 7.5 surcharge, 7.5 per cent penalty, totalling 45 per cent

Taxman targets 100,000 high-value transactions

In the first tranche, CBDT to issue letters to those spending Rs 1 crore a year

<b>Parthasarathi Shome:</b> I-T department statistics - II

Taxpayer profiles reveal worrisome characteristics

Implementation of new accounting standards postponed

Breather for companies as norms are deferred by a year

I-T dept probes firm linked to former principal secy

Taxmen to meet UP traders, industry over amnesty scheme

Centre has provided a 4-month amnesty starting June 1 to evaders, giving them a chance to come clean and pay 45% tax

Income Tax dept says media wrong to report that it is arresting wilful tax defaulters

It was reported yesterday that IT department will block PAN, cancel LPG subsidy and ensure loans are not sanctioned to the wilful tax defaulters

Income tax arrears: Blocking of PAN, new bank loans likely

I-T department talks of arresting errant defaulters, retracts later

Do not lose tax benefits

The tax department can withdraw exemptions claimed earlier if certain conditions aren't met

Are you a wilful tax defaulter? IT dept may block your PAN, LPG subsidy

A number of measures have been mooted by the tax department to curb the menace of large-scale tax avoidance and evasion

PM set no target on income tax assessees: Finance ministry

Clarifies that the Prime Minister has asked the Income Tax Department to widen tax base, but no specific target has been set

Double taxpayer base to 100 mn, PM tells taxmen

Officers asked to build 'bridge of confidence' with taxpayers

<b>Parthasarathi Shome:</b> I-T Department statistics - I

The department has revived publication of useful statistics

Four month window to disclose black money opens today

Domestic black money holders can come clean by paying tax and penalty of 45% on undisclosed assets

IT dept has decided to declare the name of tax defaulters

Earlier exercise was restricted to people with huge defaults upto Rs 20-30 cr but the new measure will bring it to Rs 1 Cr