Government of India Department of Revenue North Block, New Delhi Dated: 12th February, 2015 Sub:- Press Release on the shift in the focus of the department from civil consequences to criminal consequences in serious cases of tax evasion. During 2014-15 (upto Dec, 2014) the ITD has conducted searches in 414 groups and seized … Read more
Gross Direct Tax Collection During April-January of the Financial Year 2014-15 is up by 11.38 Percent at Rs. 5,78,715 Crore as Against Rs. 5,19,588 Crore During the Same Period Last Year Gross direct tax collection during April-January of the Financial Year 2014-15 is up by 11.38 percent at Rs. 5,78,715 crore as against Rs. 5,19,588 … Read more
Income Tax Department Initiates Investigation into Issuance of Cheques by Companies Which are Acting as Entry Operators to Convert Illegal Cash into Legitimate Money Income Tax Department, Ministry of Finance, Government of India had initiated investigation into issuance of cheques by companies which are acting as entry operators to convert illegal cash into legitimate money. … Read more
Government of India Ministry of Finance North Block, New Delhi PRESS RELEASE Information about HSBC foreign bank accounts was received from the French authorities in respect of 628 Indian persons/entities. Out of the said 628 persons, 200 were either non-residents or non- traceable, leaving 428 cases of residents which were found actionable. For these … Read more
Circular 2/2015 F. No. 385/ 03 /2015-IT(B) Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes (CBDT) North Block, New Delhi 10th February, 2015 Subject: Chargeability of Interest under Section 234A of the Income—tax Act, 1961 on self-assessment tax paid before the due date of filing of return of income- … Read more
Concealment Penalty Proceedings U/S 271(1)(C) of Income Tax Act 1961 Initiated in 128 Cases in which Assessments were Completed While in the Remaining Cases, Assessment Proceedings are at Advance Stage; Information About Hsbc Foreign Bank Accounts was Received from the French Authorities in Respect Of 628 Indian Persons/Entities; Necessary Investigation as Per The Provisions of … Read more
February and March are the tax planning months for the taxpayers. Every taxpayer thinks how to reduce his tax liability. Life insurance premium is the one of the most well-known and easily available instrument for saving the tax under section 80C of the Income Tax Act. General FAQ regarding the tax saving through insurance premium … Read more
RBI/2014-15/456IDMD(DGBA).CDD.No. 3476/13.01.999/2014-15 February 06, 2015 The Chairman & Managing Director Head Office (Government Accounts Department)State Bank of India & Associate Banks All Nationalised Banks ICICI Bank Ltd., HDFC Bank Ltd, Axis Bank Ltd., andStock Holding Corporation of India Ltd (SHCIL). Dear Sir/Madam, Inflation Indexed National Savings Securities- Cumulative, 2013 – Early repayment/redemption Please refer to our circular DGBA.CDD.No.2589/13.01.999/2014-2015 dated December … Read more
[TO BE PUBLSIHED IN THE GAZETTE OF INDIA EXTRAORDINARY, PART II,SECTION 3, SUB-SECTION (ii)] GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE [CENTRAL BOARD OF DIRECT TAXES] Notification New Delhi, the 4thFebruary, 2015 INCOME – TAX S.O.350 (E)In exercise of the powers conferred by sections 92CB and 92D read with section 295 of the Income-tax … Read more
MINISTRY OF FINANCE (Department of Revenue) (CENTRAL BOARD OF DIRECT TAXES ) NOTIFICATION New Delhi, the 21st January, 2015 (Income -tax) S.O. 210(E).— In exercise of the powers conferred by clause (viii) of sub-section (2) of section 80C of the Income-tax Act, 1961 (43 of 1961), the Central Government hereby specifies the ‘Sukanya Samriddhi Account’ … Read more