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India -UK Sign 3 more Bilateral Advance Pricing Agreements
Press Information BureauGovernment of IndiaMinistry of Finance18-November-2016 20:20 ISTIndia and UK Sign three Bilateral Advance Pricing Agreements (B- APAs) taking the total number of APAs signed [b...
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India signs revised DTAA with Cyprus
Press Information BureauGovernment of IndiaMinistry of Finance18-November-2016 20:23 ISTRevised Double Taxation Avoidance and the Prevention of Fiscal Evasion (DTAA) Agreement signed today between Ind...
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Prosecution for allowing use of Bank A/C by others for Black Money Conversion
Press Information BureauGovernment of IndiaMinistry of Finance18-November-2016 16:23 ISTStrict Action against Tax Evaders using other persons’ Bank Accounts to convert their Black Money into New Denom...
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Action on Indians having banks accounts in Liechtenstein & Switzerland
Press Information BureauGovernment of IndiaMinistry of Finance18-November-2016 17:56 ISTAction on the information provided by the foreign Government regarding banks accounts held by Indians in Liechte...
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Action on Black Money by Central Government
Press Information BureauGovernment of IndiaMinistry of Finance18-November-2016 17:50 ISTAction on Black MoneyThere is no official estimation of the amount of black money within the country and stashed...
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Obtain PAN of IDS 2016 Declearant, who has not furnished
Member (L&C) D.O letter dated 17/11/2016 to all Pr.CsIT in respect of issuance of Form-2 under IDS, 2016 – reg.Dear Pr. Commissioners of Income-tax,It has come to my notice that some declarations unde...
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Mythos of Demonetization
Top 10 #Demonetization Myths Busted Myth 1- In next round PM Modi will demonetise Rs. 100 and Rs. notes.Reality- There is no such intention and demonetisation will not be done for any other denominati...
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Penalty u/s 270A and demonetization
Issue of Imposition of Penalty u/s 270A of Income Tax Act, 1961 The demonetization of Indian High Value Currency Notes is creating havoc and sheer chaos in the Indian Markets. Amidst such a scenario,...
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Strict Action against Tax Evaders using other persons’ Bank Accounts to convert their Black Money into New Denomination Notes
Strict Action against Tax Evaders using other persons’ Bank Accounts to convert their Black Money into New Denomination NotesPIB Dated 18-11-2016Person(s) who allows His Or Her Bank Account to be misu...
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IDS 2016- Rectification of typographical or bonafide error & Assessment
Instruction No.12 of 2016F.No.370142/8/2016-TPL (Part)Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct Taxes(TPL Division)***New Delhi, the 11th November, 2016To,All...
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CBDT notifies reporting of cash deposit b/w 09.11.2016 to 30.12.2016
Amendment in Rule 114B for compulsory quoting of pan in case of cash deposit exceeding Rs. 50000 in a single day or aggregating to more then Rs. 2.5 lakh during the period from 09.11.2016 till 30.12.2...
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List of Transactions to be reported in AIR
Updated list of Transactions to be reported in AIR Government has recently demonetised bank notes of Rs. 500 & Rs. 1000/- to curb Black Money, which resulted in huge deposit of cash notes in Bank, wit...
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List of Transactions in which PAN is to be quoted
Updated list of Transactions in which PAN is to be quoted Government has recently demonetised bank notes of Rs. 500 & Rs. 1000/- to curb Black Money, which resulted in huge deposit of cash notes in Ba...
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Deposit of Old Currency in Bank
Things to be Kept in Mind Demonetization has rocked the whole lot of people . Each one form lower to upper class is affected. In one word we can say India gets “Modified”.Most of the financial and tax...
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Reg. Group Assessment & Peer Review before Assessment
F. No. 225/246/2014-ITA-11Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Direct TaxesNew Delhi, dated 15 November, 2016OFFICE MEMORANDUMSubject: Reconstitution of Committe...
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200% penalty on unaccounted cash deposited in Bank Account
200% penalty cannot be imposed if tax is paid on unaccounted cash in current yearHon’ble Prime Minister, Sh. Narendra Modi on November 8, 2016 made one of his boldest move by launching an aggressive a...
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How Indians Convert their Black Money into white- Govt Study
Government Press Release, dated 16-5-2012ForewordIn the past year the public discourse on the issue of corruption and black money has come in the forefront with the active participation of the civil s...
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Demonetisations of Rs. 500 & 100 Notes – IT Consequence
Demonetisations of Rs. 500 & 100 Notes – Consequence & Duties Demonetisations of the Higher Denomination Notes by Government of India – synopsis, consequence and duties Introduced on the evening of 8t...
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Replacement of old notes & Income Tax Provisions
All about replacement of old notes & Income Tax Provisions Guidelines for replacement of existing Rs 500 and Rs 1000 notes with new notes and to understand the procedure of scheme and relevant provisi...
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Limit, Tax and Penalty on Cash Deposit
Myth and Truth A day after IMANDAARI KA UTSAV, A day after PRAMANIKTA KA PARV, A day after MAHAYAGNA, A day after demonetization scheme. Hopefully you all are observing and going through same atmosphe...