Income Disclosure Scheme
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Income Disclosure Scheme Disclosure Figures To Be Revised Lower To Rs 55,000 Crore
The disclosures made under the black money amnesty scheme is likely to be revised downwards to about Rs 55,000 crore after a declarant failed to deposit the first installment of the tax.
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Lok Sabha Transacts Some Business Amid Din
After days of paralysis, the Lok Sabha today transacted some business as Supplementary Demand for Grants was passed amid ruckus created by some Opposition parties which continued to attack the government over demonetisation issue.
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Mumbai's Rs 2 Lakh Crore Family Admitted They Were A Front, Say Sources
Could the Rs 2 lakh crore income declaration by Mumbai-based family have been a front for certain "big names"? Sources in the income tax department say they are inquiring into the possibility.
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Indian Family Says Skipped Tax On $29 Billion: Foreign Media
A family of four Indians told the government it had evaded tax on $29 billion of income. That fortune would make them wealthier than the nation's richest man.
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Rs 2 Lakh Crore Black Money Declared By Mumbai Family Under Investigation: Government
A Mumbai family's income declaration of Rs 2 lakh crore has been rejected and investigations in the matter are on, the Union Finance Ministry has said. The ministry said the declaration was rejected as it was "suspicious in nature, being filed by persons of small means".
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In Late-Night Black Money Count, Tax Officials Raced To Beat 1997 Record
For inhabitants of the dreary offices of Central Board of Direct Taxes or CBDT in the North Block of the cabinet secretariat in Delhi, it was an unusual night as officials summed up voluntary disclosures of unaccounted wealth or 'black money' made over the last four months.
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No Passing Off Black Money As Current Income, Warns Income Tax Department
The Income Tax Department on Thursday warned black money holders of prosecution if they tried to pass off such wealth as current income instead of disclosing it in the one-time compliance window.
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Declare Undisclosed Income, No Questions Will Be Asked, Says Arun Jaitley
Union finance minister Arun Jaitley on Tuesday said the Voluntary Disclosure of Income Scheme is not one that provides immunity from investigation. But he assured that those who do disclose their unreported income under it, will be given protection from investigative agencies other than the Income Tax Department.
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In FAQ, Government Comes Clean On Black Money Disclosure
Recently, Congress president Sonia Gandhi's son-in law Robert Vadra converted Sky Light Hospitality, a private limited company owned by him, into a "Limited Liability Partnership", which means that one partner cannot be held responsible for another partner's wrongdoing.
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Publicise Black Money Scheme At Markets, Malls, Tax Officials Told
The Central Board of Direct Taxes or CBDT has directed the Income Tax department to step up publicity of the ongoing one-time black money compliance window by advertising it at posh markets, clubs and showrooms and also ensure full privacy to those making disclosures for better collections.
-
Compliance Window For Domestic Black Money Opens Tomorrow
The 4-month disclosure window giving an opportunity to domestic black money holders to come clean by paying tax and penalty of 45 per cent on such assets will open tomorrow.
-
Income Disclosure Scheme Disclosure Figures To Be Revised Lower To Rs 55,000 Crore
The disclosures made under the black money amnesty scheme is likely to be revised downwards to about Rs 55,000 crore after a declarant failed to deposit the first installment of the tax.
-
Lok Sabha Transacts Some Business Amid Din
After days of paralysis, the Lok Sabha today transacted some business as Supplementary Demand for Grants was passed amid ruckus created by some Opposition parties which continued to attack the government over demonetisation issue.
-
Mumbai's Rs 2 Lakh Crore Family Admitted They Were A Front, Say Sources
Could the Rs 2 lakh crore income declaration by Mumbai-based family have been a front for certain "big names"? Sources in the income tax department say they are inquiring into the possibility.
-
Indian Family Says Skipped Tax On $29 Billion: Foreign Media
A family of four Indians told the government it had evaded tax on $29 billion of income. That fortune would make them wealthier than the nation's richest man.
-
Rs 2 Lakh Crore Black Money Declared By Mumbai Family Under Investigation: Government
A Mumbai family's income declaration of Rs 2 lakh crore has been rejected and investigations in the matter are on, the Union Finance Ministry has said. The ministry said the declaration was rejected as it was "suspicious in nature, being filed by persons of small means".
-
In Late-Night Black Money Count, Tax Officials Raced To Beat 1997 Record
For inhabitants of the dreary offices of Central Board of Direct Taxes or CBDT in the North Block of the cabinet secretariat in Delhi, it was an unusual night as officials summed up voluntary disclosures of unaccounted wealth or 'black money' made over the last four months.
-
No Passing Off Black Money As Current Income, Warns Income Tax Department
The Income Tax Department on Thursday warned black money holders of prosecution if they tried to pass off such wealth as current income instead of disclosing it in the one-time compliance window.
-
Declare Undisclosed Income, No Questions Will Be Asked, Says Arun Jaitley
Union finance minister Arun Jaitley on Tuesday said the Voluntary Disclosure of Income Scheme is not one that provides immunity from investigation. But he assured that those who do disclose their unreported income under it, will be given protection from investigative agencies other than the Income Tax Department.
-
In FAQ, Government Comes Clean On Black Money Disclosure
Recently, Congress president Sonia Gandhi's son-in law Robert Vadra converted Sky Light Hospitality, a private limited company owned by him, into a "Limited Liability Partnership", which means that one partner cannot be held responsible for another partner's wrongdoing.
-
Publicise Black Money Scheme At Markets, Malls, Tax Officials Told
The Central Board of Direct Taxes or CBDT has directed the Income Tax department to step up publicity of the ongoing one-time black money compliance window by advertising it at posh markets, clubs and showrooms and also ensure full privacy to those making disclosures for better collections.
-
Compliance Window For Domestic Black Money Opens Tomorrow
The 4-month disclosure window giving an opportunity to domestic black money holders to come clean by paying tax and penalty of 45 per cent on such assets will open tomorrow.
