“IT has ordered Vadra and his company Skylight Hospitality to deposit the money. As part of the conspiracy, the company had not disclosed its income,” BJP spokesperson Sambit Patra said.
"The buzz in Delhi is that Nirmala Sitharaman will be removed as Defence Minister and appointed as lawyer of the Income Tax Department. Welcome to the bar, Sitharaman," tweeted Chidmabaram, a senior lawyer himself.
Here is a short list of eight key tax filing related considerations and precautions that would help you in ensuring the accurate filing of your taxes in for the Assessment Year 2018-19.
"Such offences are punishable under various penal and prosecution provisions of the Income Tax Act," a notification said.
The single Income Tax Return (ITR) form, notified by the CBDT on April 5, has been put on its website, https://www.incometaxindiaefiling.gov.in
CBDT, in a recent order, clarified that ITR for FY 2015-16 and FY 2016-17 cannot be filed after deadline March 31, 2018. But if you missed it, there is one last option:
The department has also sent a detailed questionnaire, seeking details of the firm's operations, to be answered by him.
The CBI had arrested Dutta in July last year in connection with a different case related to alleged bribery in favouring people in income tax assessments, they said.
The new regime of e-communication is expected to be voluntary and taxpayers can take a call on whether to conduct their dealings over the e-system or through the existing procedure of manual submission of documents by visiting the tax office.
The provisional attachment action has been carried out to "recover outstanding tax demands", understood to be about Rs 85 crore, the officials said.
The department issued orders for provisional attachment of these accounts in various bank branches in Mumbai under the provisions of the Income Tax Act, 1961. There are around Rs 80 lakh in these accounts, official sources said.
Making details of the recent operation public, the department also said that it had detected the role of a Chinese firm, in some instances, in "paying commission" to local middlemen, outside India.
The net direct tax collections represent 69.2 per cent of the revised estimates of Rs 10.05 lakh crore for direct taxes in 2017-18.
Yoga guru Baba Ramdev today said that the middle class is not happy with the Union Budget 2018-19, which was presented by the Modi government on Thursday.
"Salaried taxpayers, pensioners need no documents, bills to claim Rs 40,000 standard I-T deduction on travel, medical expenses," Chandra said after Budget announcements.
Presenting the Union Budget 2018-19, the finance minister however proposed a marginal releif to tax payers by introducing new standard deduction of Rs 40,000 cr for salaried taxpayers.
In his Budget speech, Jaitley said this year, the focus is on strengthening agriculture sector and besides 'ease of doing business', the government is also focusing on 'ease of living' now.
While the government expects you to pay taxes honestly, make sure you make use of its exemption schemes to the fullest
I-T sleuths had conducted searches in the office block and a room occupied by Sasikala, currently serving a prison term in a corruption case, at the Poes Garden residence.
The Delhi Directorate of the Income Tax Department made the huge seizure, which included bullion and jewelry, from a safe deposit vaults named U & I Vaults Limited.
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