-
Posted Date : 02-Apr-2013 , 08:03:01 am | Posted By CASANSAAR
Samsung Electronics India Pvt. Ltd, the local arm of multinational consumer electronics firm Samsung Electronics Co. Ltd, is the latest firm to come under the scanner of the income-tax department. The show-cause notice issued on Saturday claims that the firm did not pay taxes on Rs.1,139.2...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 618
-
Posted Date : 30-Mar-2013 , 07:51:56 am | Posted By CASANSAAR
The income-tax department is all set to issue a draft order estimating a tax liability of more than Rs 15,000 crore on Shell India due to alleged undervaluation of shares when it raised money from its global parent Shell Gas BV a few years ago. The Transfer Pricing wing of the I-T departme...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 381
-
Posted Date : 29-Mar-2013 , 08:39:00 am | Posted By CASANSAAR
Seeking to encourage Research and Development (R&D) activities in the IT sector, theCBDT today issued circulars to streamline the taxation rules in line with the recommendations of theRangachary Committee. The circulars, issued with relation to the applicabilit...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 396
-
Posted Date : 29-Mar-2013 , 07:47:03 am | Posted By CASANSAAR
Amid government efforts to track black money stashed abroad, India today signed a Tax Information Exchange Agreement with Liechtenstein. "India and Liechtenstein have signed a Tax Information Exchange Agreement (TIEA) today at Bern, Switzerland," the Finance Ministry sa...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 223
-
Posted Date : 28-Mar-2013 , 08:00:52 pm | Posted By CASANSAAR
The income tax department has slapped a Rs 2,000 crore tax notice on Finnish mobile firm maker Nokia for alleged tax evasion on royalty payment by the Indian arm to the parent for downloading of software to manufacture mobile devices. Nokia, in turn, has got an interim stay from the Delhi High cour...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 377
-
Posted Date : 28-Mar-2013 , 08:41:24 am | Posted By CASANSAAR
Tax authorities will intensify their efforts to crack down on unaccounted-for money stashed overseas by seeking information from their counterparts in other countries. A recent letter issued by the Chairperson, Central Board of Direct Taxes (CBDT) bears testimony to this intention. To en...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 289
-
Posted Date : 26-Mar-2013 , 06:31:07 pm | Posted By CASANSAAR
No.13-CA(Exam)/M/2013/II: In partial modification of the Institute’s Notification No. 13-CA(Exam)/M/2013 dated 19th December, 2012, it is notified for general information that in view ofthe Election to the Karnataka State Legislative Assembly, Group – 1, Paper 2, Strategic FinancialManag...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 478
-
Posted Date : 26-Mar-2013 , 08:28:53 am | Posted By CASANSAAR
With various hurdles, including legal ones, hampering its merger with Tech Mahindra, the board of Satyam Computer Serviceshas extended the validity of the scheme of amalgamation by six months till September 30. Bombay High Court has already approved the scheme, but the Andhra Pradesh High C...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 310
-
Posted Date : 26-Mar-2013 , 08:03:05 am | Posted By CASANSAAR
An Additional Income Tax Commissioner in Gandhinagar was today caught by the Central Bureau of Investigation (CBI) for allegedly demanding and accepting a bribe of Rs 30 lakh. "C S Bharti, IRS 1994 batch, Additional Commissioner, Income tax, Gandhinagar was trapped this evening for demand a...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 541
-
Posted Date : 25-Mar-2013 , 04:46:38 pm | Posted By CASANSAAR
Encouraged by the earlier results the Finance Ministry on Monday said it will continue to send letters to assessees who do not file income tax return. “We have been sending letters. We are getting results. The number of returns filed has been showing an increase. We intend to continue with th...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 544
-
Posted Date : 25-Mar-2013 , 12:27:28 pm | Posted By CASANSAAR
The government has cut the interest rates on Public Provident Fund (PPF) and National Savings Certificates (NSC), but has left the rates on savings deposits and one-year time deposits unchanged, the Finance Ministry said. While the rate on PPF has been cut to 8.7 per cent from 8.8 per cent, the 10-...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 385
-
Posted Date : 25-Mar-2013 , 08:01:19 am | Posted By CASANSAAR
Worried about a demand notice from the Income Tax (I-T) department under section 245 of the I-T Act, even after tax has been deducted at source from your salary? Relax. It is no longer tough to sort out the matter, thanks to a recent order of the Delhi High Court. It is not unusal for a per...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 525
-
Posted Date : 22-Mar-2013 , 08:30:43 am | Posted By CASANSAAR
The e-Filing Call Center (Toll Free – 1800 4250 0025) will be functioning 24/7(Including Saturday and Sunday), during the month of March 2013....
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 403
-
Posted Date : 22-Mar-2013 , 08:21:15 am | Posted By CASANSAAR
The Reserve Bank today asked banks to keep open their designated tax collecting branches on March 29, 30, 31 to facilitate tax collection. March 29 is a holiday on account of Good Friday while March 31 is Sunday. "We have been requested by the Government of India and so...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 346
-
Posted Date : 20-Mar-2013 , 08:42:51 pm | Posted By CASANSAAR
NOTIFICATION 20th March, 2013No.13-CA (EXAM)/CPT/ June/2013/II: In partial modification of the Institute’s Notification No.13-CA(EXAM)/CPT/ June/2013 dated 2nd January, 2013, it is notified for general information that the last dateof receipt of duly filled Common Proficiency Test ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 389
-
Posted Date : 18-Mar-2013 , 05:34:43 pm | Posted By CASANSAAR
Soon, income tax refunds will be quick and hassle-free, if the finance ministry has its way. The ministry plans to make all refunds directly to the taxpayer's bank account. A permanent account number (PAN) linked with the bank account number, just like Aadhaar, is integral to the Income Tax Departm...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 398
-
Posted Date : 17-Mar-2013 , 06:43:46 pm | Posted By CASANSAAR
Income tax department offices across the country will remain open on March 30 and 31 for taxpayers who want to file their returns and conduct other tax related businesses. The central board of direct taxes (CBDT) has taken the measure as the last two days of the month are Saturday and ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 164
-
Posted Date : 16-Mar-2013 , 08:50:48 am | Posted By CASANSAAR
Lord Shiva, Hanuman and goddess Durga do not represent any particular religion but are regarded as supernatural powers of theuniverse, the Nagpur income tax appellate tribunal has said. The observation came when the tribunal was hearing an appeal by Nagpur-ba...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 891
-
Posted Date : 16-Mar-2013 , 08:40:19 am | Posted By CASANSAAR
The Government has launched drive against fake Permanent Account Number (PAN) cards. As a continuous process, in order to know the genuineness of Know Your Customer (KYC) documents on Proof of Identity (POI) and Proof of Address (POA), third party field verification is conducted after allotment of P...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 531
-
Posted Date : 16-Mar-2013 , 08:34:58 am | Posted By CASANSAAR
New forms for filing of income tax returns for the assessment year 2013-14 are proposed to be notified by the end of this month. "The new forms for filing the income tax returns for the assessment year 2013-14 are proposed to be notified by the end of March, 2013," Minister of State for Fin...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 554
-
Posted Date : 15-Mar-2013 , 01:28:34 pm | Posted By CASANSAAR
Information Technology major TCS has declared that it has paid Rs 600 crore as advance tax for the quarter January-March 2013, nearly 10% more than the previous quarter. Last year for the March quarter, the company had paid Rs 545 crore as advance tax, according to information available from the Inc...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 411
-
Posted Date : 15-Mar-2013 , 07:49:57 am | Posted By CASANSAAR
The country's apex tax body, the CBDT or Central Board of Direct Taxes has expressed concern over the rampant involvement of corporates amongst other entities in a hawala racket where bogus bills are used to suppress taxable income. Speaking to ET NOW, KV Chowdary, Member, Invest...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 377
-
Posted Date : 14-Mar-2013 , 09:57:23 pm | Posted By CASANSAAR
Dangling carrot and stick, the Income Tax Department today issued notices to 35,000 more assessees for failure to file tax returns while Finance Minister P Chidambaram offered them a penalty waiver if they chose to clear their dues. The government's initiatives have alr...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 300
-
Posted Date : 14-Mar-2013 , 09:07:08 am | Posted By CASANSAAR
The Income-tax Act requires that the tax payable on the returned income after taking into account prepaid taxes, should be paid before furnishing the return. An analysis of returns filed electronically in the current Financial Year (2012-13) reveals that nearly 73,388 taxpayers have defaulted on suc...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 382
-
Posted Date : 13-Mar-2013 , 06:48:12 pm | Posted By CASANSAAR
Warning the defaulters of penal consequences, the Income Tax department today asked assesses, who pay taxes on the basis of self-assessment, to clear their dues by March 31. The Revenue Department said 73,388 people have defaulted on payments of self-assessment tax aggregating to ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 565
-
Posted Date : 13-Mar-2013 , 08:24:15 am | Posted By CASANSAAR
The Income Tax department, on Tuesday, urged taxpayers to pay the last installment of advance tax on or before March 15. “It is seen that a large number of taxpayers defer their advance tax, which makes them liable for higher interest under Section 234(C) of Income Tax Act, 1961,” the d...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 352
-
Posted Date : 12-Mar-2013 , 09:49:58 pm | Posted By CASANSAAR
Income Tax arrears outstanding at the end of December, 2012 totalled over Rs 4.18 lakh crore, Finance Minister P Chidambaram said today. "The total income tax arrears outstanding as on December 31, 2012 are Rs 4,18,696 crore," Chidambaram said in a written reply in the Rajya Sabha. ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 237
-
Posted Date : 12-Mar-2013 , 08:13:18 am | Posted By CASANSAAR
Many investors park their surplus fund in fixed maturity plans (FMPs) and other debt funds in March every year to take advantage of the double indexation benefit and to bring down the tax liability on returns. This year, these investors are also expecting capital appreciation on these ...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 573
-
Posted Date : 11-Mar-2013 , 09:27:45 pm | Posted By CASANSAAR
After sending letters to 70,000 high value spenders who did not file their income tax returns, the tax department is all set to send another 30,000 notices this week. This may be the final batch of such letters in the current assessment year ending March 31, 2013. “Letters will be sent to 30,...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 571
-
Posted Date : 10-Mar-2013 , 10:44:07 am | Posted By CASANSAAR
The Income Tax department has decided to crack the whip on big companies and organisations that do not remit TDS money even after deducting it from their workers' salaries. The Central Board of Direct Taxes (CBDT), the controlling and administrative authority of the department...
Continue Reading... Category : Income Tax | Comments : 0 | Hits : 245
- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
- Bank Branch Audit 2021 - Update on allotment of Branches
- Bank Branch Audit 2020 Updates
- Bank Branch Audit 2021 Updates
- Bank Branch Audit 2020 - Update on Allotment of Branches
- Police Atrocities towards CA in Faridabad - Its Time to be Unite
- Bank Branch Statutory Audit Updates 2019
- Bank Branch Statutory Audit Updates
- Bank Branch Audit 2022 Updates
- Bank Branch Statutory Audit Updates
- NFRA Imposes Monetary penalty of Rs 1 Crore on M/s Dhiraj & Dheeraj
- ICAI notifies earlier announced CA exam dates despite pending legal challenge before SC
- NFRA debars Auditors, imposes Rs 50 lakh penalties for lapses in Brightcom, CMIL cases
- GST Important Update - Enhancement in the GST Portal
- NFRA Slaps Rs 5 lakh Penalty on Audit Firm for lapses in Vikas WSP Audit Case
- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
- RBI comes out with FEMA regulations for direct listing on international exchange
- RBI directs payment firms to track high-value, fishy transactions during elections
- NCLT orders insolvency proceedings against Subhash Chandra
- Income Tax dept starts drive to dispose of appeals, 0.54 million at last count
- Payment of MCA fees –electronic mode-regarding
- Budget '11-12' Parliament Completes Approval Exercise
- Satyam restrained from operating its accounts
- ICICI a foreign firm, subject to FDI norms: Govt
- Maha expects Rs 15 crore entertainment tax revenue from IPL
- CAG blames PMO for not acting against Kalmadi
- No service tax on visa facilitators: CBEC
- Provision of 15-minutes reading and planning time allowance to the candidates of Chartered Accountants Examinations
- Companies Bill to be taken up in Monsoon Session
- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
Fresh Income tax news only on casansaar covering details for Income tax return,efiling, calculator,refund, income tax slab,forms,rates etc in india
