Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: empanelment :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: TDS :: due date for vat payment :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: cpt :: form 3cd :: ACCOUNTING STANDARD :: VAT RATES :: articles on VAT and GST in India :: ARTICLES ON INPUT TAX CREDIT IN VAT
 
 
News Headlines »
  I-T department asks taxpayers to update their information on e-filing portal
  How to check income tax refund status
 GST panel to consult MSMEs in October end to further ease tax rigour
  How to check income tax return status
 Been Served a Notice by the Income Tax Department? Here’s How You Can Respond
 Seeks to amend the CGST Rules, 2017 - 45/2017 - Central GST (CGST)
 Government provides clarity on tax rate
 Processing of returns in Form ITR-I under section 143(1) of the Income-tax Act, 1961
  Filing of Reconciliation return in form 9 for the year 2016-17
  Today is last date for filing GSTR-1 forms for July; govt rules out further extension
 Today is last date for filing GSTR-1 forms for July; govt rules out further extension

Income -Tax department plans hi-tech measures to plug tax evasion
January, 17th 2011

The income tax department (ITD) is working on a strategy to identify "evasion prone sectors" of the Indian economy and the reasons behind tax avoidance, in order to plug tax leakage.

With this objective, the revenue authorities have proposed to constitute an expert group that will conduct a study on tax leakage and the measures to plug it.

The department is also vetting a proposal to set up a criminal investigation directorate, which will keep tabs on fund flow related to money laundering, narcotics, terror activities and will also develop business intelligence.

The ITD's Vision 2020 document states that the department intends to use innovative methods to supplement its traditional enforcement tools. The department has proposed "to ensure the integrity/ evidentiary value of digital data by following the best cyber forensic practices." The Vision 2020 document was released on January 5 by finance minister Pranab Mukherjee.

It spells out the vision, goals and challenges before the department.

The action plan of the Vision 2020 document proposes to upgrade current data mining and other initiatives for data warehousing solutions, in order to develop comprehensive business intelligence for just- in- time enforcement capability. There should be standard operating procedures for cyber forensic practices, including analysing and archiving digital data flow, the document states.

Further, the ITD wants to track all shady deals using the latest techniques of forensic/ phone interception and have a centralised data base, sources said. Business intelligence should be made available to the actual users on a real time basis, says the vision document.

The ITD is facing new challenges because of the proliferation of tax avoidance schemes and the complex structuring of transactions of multinational corporations. The document says that the challenges can be met by exchanging tax information at international fora and by setting up overseas units. The plan proposes the building of partnerships across government agencies to gather and share information and to work out uniform accounting/ reporting practices.

A conscious effort has to be made towards developing non- intrusive, targeted enforcement tools, it added.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Outsourcing Test Solutions Software Testing Software Bug Testing Software Issues Tracking Software Issue Fix Software Code Optimization Database Design Optimization

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