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: due date for vat payment :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: form 3cd :: VAT Audit :: ACCOUNTING STANDARDS :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: cpt :: list of goods taxed at 4% :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: empanelment :: VAT RATES
 
 
Direct Tax »
 CBDT denies data inconsistency over new taxpayers after note ban
 No inconsistency in number of tax payers: CBDT
 India will benefit from growing tax revenue in FY2018
 I-T plans to pursue property-holders who have never filed income tax returns
 Direct Tax Collections up to July, 2017 show Growth
 How True is CBDT’s Claim of Record New Tax Filers?
 Five Questions for Republican Tax Reformers
 CBDT signs nine UAPAs with Indian taxpayers
 Made a mistake in your tax return? Here's how to correct it
 6 ways to verify your income tax return
 Businesses can file returns, pay taxes for July on GSTN portal

Govt must not bring back long-term capital gains tax
February, 12th 2016

With the current financial year coming to a close soon, CBDT has asked the Income Tax department to speed up select black money and tax evasion probe cases which require cooperation from foreign agencies under existing bilateral treaties.

Officials said the Central Board of Direct Taxes (CBDT) has asked the taxman to send across to it all such cases for exchange of information which are getting "time barred" by March 31, the last day of the 2015-16 fiscal.

According to an official instruction in this regard, the department officials have been asked to send these requests latest by the end of this month so that they can be scrutinised, formatted and finally sent abroad before March end.

A special wing in the CBDT, called the Foreign Tax and Tax Research, is mandated to process these requests sent by various regions of the tax department from across the country in pursuance of their respective probes under IT laws.

A good number of cases of tax evasion and black money are pending investigation and instructions have been specially issued for those cases which are getting time barred by the 2015-16 fiscal. Once the time barring period gets over, it becomes legally untenable for the department to take prosecution action against defaulters and evaders," a senior official said.

The official said instructions to get these judicial requests quickly sent to the CBDT have been notified after the issue was discussed by the top brass of the CBDT at a meeting held recently here.

India has two major mechanisms -- Double Taxation Avoidance Agreements (DTAAs) and Tax Information Exchange Agreements (TIEAs) -- to seek cooperation from foreign counterparts in cases of tax evasion, with an overseas ramification.

Government has collected a total of Rs 2,428.4 crore in taxes after over 600 declarations were made by stash holders to the IT department under the one-time black money compliance window that ended last year.

A total of 644 declarations were made under the compliance window, provided under the new anti-black money law, which closed on September 30 last year.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

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