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: due date for vat payment :: form 3cd :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: Central Excise rule to resale the machines to a new company :: TDS :: VAT Audit :: ACCOUNTING STANDARDS :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT :: cpt :: ACCOUNTING STANDARD :: list of goods taxed at 4%
 
 
« Indirect Tax »
 Income-tax (16th Amendment) Rules, 2017
 TDS, TCS deferred for smooth GST rollout
 GST may lead to better operating profit margin for multiplex operators
 Indirect taxes must equal direct taxes
  Income Tax dept issues notices to ‘farmers’ claiming suspect agricultural income
 GST would match or be lower than the multiple indirect taxes on real estate
 Tax incidence under GST lower than current indirect taxes
 Here's the complete list of pre-GST discounts being offered by companies
 Applicability of Explanation 2 to Section 132B of the I.T. Act, 1961- reg.
 Here’s all you need to know about TDS and why it is deducted
 New indirect tax regime

Income Tax notice to state MPs on tax evasion
December, 12th 2014

The Income Tax department has started sending out notices to the MPs from Kerala directing them to pay the tax for the donations they had collected in their personal capacity and deposited in their accounts.

The department has already issued notices to Mr E. Ahmed and Mr K. Sudhakaran, and the remaining 18 MPs would also receive the notices shortly, sources in the department told DC.

The Election Commission has sent the asset declarations of the MPs to the department. Income Tax sources said that the MPs would have to pay the tax for the amount they have declared as their assets in the declaration.

“The amount collected for the party is tax-free. But the MPs will have to pay the tax for all other donations that they had collected in their personal capacity and deposited in their personal accounts. We have already started sending out the notices,” a senior Income Tax official said.

Income Tax officials have also got information that many MPs had collected huge donations from private parties during elections and had spent them through their personal accounts.

The Income Tax officials have also got information that many MPs had collected huge donations from private parties during elections and had spent them through their personal accounts.department has also got the election expenditure details of all the MPs from Kerala and is now tallying the expenditure and collection details.

Mr E.Ahmed, IUML MP from Malappuram constituency, had shown a fixed deposit of Rs. 48, 58,952 in three bank accounts and Rs 68 lakh worth immovable assets. Mr K. Sudhakaran, MP from Kannur, had declared Rs 21, 09,040 cash deposits and Rs 52.5 lakh worth immovable properties.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Work Flow Workflow Software Software Automation Workflow automation Software Design Workflow Design Business Work Flow Workflow automation tools

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