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: due date for vat payment :: ACCOUNTING STANDARDS :: Central Excise rule to resale the machines to a new company :: TDS :: cpt :: form 3cd :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARD :: VAT RATES :: TAX RATES - GOODS TAXABLE @ 4% :: list of goods taxed at 4% :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit
Direct Tax »
 Filing your return may not mean the end of tax issues
 Filing tax return before March 31? Here is what you should do and what not
 CBDT invites suggestions to draft new Direct Tax Law
 Deadline For Income Tax Returns Filing Only 12 Days Away. 10 Points
 Income Tax: E-assessment ensures greater efficiency in the taxation system
 10 Points Deadline For Income Tax Returns Filing Only 2 Weeks Away.
 Income tax returns (ITR) filing: A step by step guide to check your ITR status online and offline
 How to save tax; amazing tips to make your money stay in your wallet Income tax returns (ITR) filing
 Want to save tax? Here are the best options
 Suggestion For Option To Assessee For Higher And Lower TDS/TCS For Optimization Of Tax Collection And Refunds
 CBDT to conduct nationwide review of tax collection for FY18 today

CBDT names and shames tax defaulters, again
April, 16th 2015

As part of its policy of 'naming and shaming' tax defaulters, the Income Tax (I-T) department on Wednesday publishing a list of 31 such assessees, who collectively owe the exchequer Rs 1,500 crore. This is the second such list being released in a span of 18 days at a time when the government is tightening the noose on those involved in circulating black money in the economy.

Some of the big defaulters of income tax and corporate tax in the list, put in the public domain by the Central Board of Direct Taxes are: Hyderabad-based Totem Infrastructure (Rs 401.64 crore), Pune-based Patheja Bros Forging & Auto Parts Mfg Co (Rs 224.05 crore), Hyderabad-based Royal Fabrics (Rs 158.94 crore); and Mumbai-based Home Trade (Rs 72.18 crore).

Asking the defaulters mentioned in the list to "Pay tax arrears immediately", the I-T department also said the assessees are either "not traceable" or they have "inadequate assets for recovery".

Last month, the department had issued a list of 18 defaulters owing Rs 500 crore to the exchequer.

The initiative is aimed at publicising and putting these names in the public domain so that the common man can come forward to help the department in knowing the whereabouts of the defaulters, said a senior tax official.

According to a statement given by government in Parliament, the total corporate tax demand pending for collection up to the month of December 2014 was Rs 3,11,080 crore.

The government's efforts to improve revenue collection include surveys for identification of potential tax evaders, gathering information from various sources, regular scrutiny, audit, joining global efforts to combat cross-border tax evasion and tax fraud and to promote international tax compliance.

The government is working on making life stiffer for those having black money. So far as such assets abroad are concerned, the government has already tabled the Undisclosed Foreign Income and Assets (Imposition of New Tax) Bill, 2015 -- popularly called the black money Bill -- in the Lok Sabha. The government is also working at the Benami Transactions (Prohibition) Bill and might table it in the current Budget session itself.

The government is yet to take a call whether naming and shaming would also be done when the black money Bill is enacted into a law.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Team

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