Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: empanelment :: due date for vat payment :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: form 3cd :: TDS :: Central Excise rule to resale the machines to a new company :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: articles on VAT and GST in India :: VAT RATES :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
« Service Tax »
 GST pangs for 3 months only, people will adjust to new way of life soon
 GST, an old new tax
 Pay tax once on the input, deduct it from the output
 GST Network to begin accepting fresh registrations from June 25
 Indian GST is significantly unique, but is it better?
 GST example of national integration
 6 reasons you need not fear the GST regime
 Tax return filing extension on GST may not be enough
 GST: ‘Tech readiness, tax administration key challenges’
 GST return filing rules relaxed for Jul-Aug, July 1 rollout
 GST Council gives return filing breather to India Inc for 2 months

Finance Minister Chidambaram warns service tax evaders to file dues before 31 December
November, 15th 2013

Indian Government has become more assertive over tax collection as the Finance Ministry is struggling with balancing deficits. The Union Finance Minister P Chidambaram on Saturday clearly stated or rather issued a vocal warning to tax evaders.

Chidambaram said that the tax department has identified serious service tax evasions and warned non-filers to complete dues before 31 December 2013. The Finance Minister revealed that the tax department has identified sectors with chronic tax evasion — viz. renting of immovable property, construction, IT, real estate, mining, advertisement, storage and warehouses.

In an attempt to restrict income tax evasion government lately announced a new requirement for those availing HRA exemption. Firming its grip on tax evaders, Central Board of Direct Taxes (CBDT) announced that any tenant will have to now produce PAN number of her/his landlord, if s/he wishes a tax exemption exceeding Rs. 1 lakh annually.

It is so found by the Finance Ministry that out of 17 lakh registered tax filers, only 7 lakh pay the tax. The Union Minister requested non-filers to reap benefits of schemes that waive interest and other penalties. The Ministry is aiming to generate tax revenue during current fiscal of Rs. 180.141 crore.

The Finance Ministry is quite serious about tax collection this time. And its seriousness is evident from the fact that around 10 people have already been arrested across the country pertaining to non-payment of tax. From each offender, more than Rs. 50 lakh were hauled out.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Achievements

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions