Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: due date for vat payment :: ACCOUNTING STANDARDS :: form 3cd :: TDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: VAT Audit :: cpt :: VAT RATES :: articles on VAT and GST in India :: empanelment :: TAX RATES - GOODS TAXABLE @ 4%
General »
 India’s GST among most complex in world, and it is 0% tax rate that is hurting the idea
 Can’t overrule courts with retrospective amendments, says Supreme Court
 Why tax planning should be an all-year round activity
 8 financial tasks you should do in the next 30 days
 Income Tax department may defend CPC in returns fraud case
  Income tax department sends notices to investors over tax treaty gains
 Seven months after GST rollout: Time for handholding over, Centre to intensify efforts to curb tax evasion
 Individual angels may get tax relief too
 The differences between tax and cess
 Startups that raised funds from angel investors face tax scrutiny
 Tax collection assumptions in India's budget ambitious

IT dept plans to review real estate deals to check possible tax evasion
April, 19th 2011

The income tax department is planning to review real estate deals in the Capital to check possible tax evasion and black money flow in the sector.

I-T department will review the property deals in Delhi and take action in appropriate cases, Central Board of Direct Taxes chairman Sudhir Chandra told reporters here, adding that these reviews will include both individual and corporates property deals in Delhi and the National Capital Region (NCR - Noida, Gurgaon).

The move is based on past searches and surveys conducted by the department that saw maximum undisclosed income by real estate companies.

In the last three years, the income tax department conducted several search operations across the country in real estate companies, including the Lodha group, BPTP, Kanakia Group, Paras and Amrapali group, among others on charges of alleged tax evasion or misreporting of income.

In fact, according to reports prepared by the intelligence department of the finance ministry, the quantum of unaccounted money is highest in the real estate sector, around Rs 2,000 crore as per a 2009 report.

The departments move is also likely to bring the DDA Housing Scheme 2010 under its scanner. All deals under the scheme would be scrutinised by the I-T department.

Overall, in 2009-10 and 2010-11, the I-T department unearthed unaccounted income from various sectors over Rs 15,000 crore in its search and seizure operations.

In addition, around Rs 8,000 crore was detected by the department during surveillance of firms and individuals that suppressed their income during these two financial years.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Website Ranking Website Ranking Company Website Positioning Alexa Ranking Website Promotion Website top 10 ranking website top 10 promotion search engine result promotion Strategic Internet Marketing Website Optimization Website Ranking Factors

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