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: VAT RATES :: TDS :: list of goods taxed at 4% :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: cpt :: due date for vat payment :: empanelment :: VAT Audit :: form 3cd
 
 
News Headlines »
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017
 Govt extends VAT deadline, relief for developers
 Income Tax Appellate Tribunal Rules, 2017
 Got your Form 16? You should file income tax returns early to enjoy benefits

'Received info on money held in overseas bank accounts'
May, 11th 2012

The government has received a number of cases of information relating to money held in foreign bank accounts, minister of state for finance SS Palanimanickam on Tuesday said. "The government has received a number of cases of information relating to remittances, payments and money held in 

 
foreign bank accounts etc under the provisions of the DTAA/TIEAs," Palanimanickam said in a written reply to the Rajya Sabha.
He was responding to a question on whether government has received details regarding 9,900 persons who have deposited black money in foreign banks and whether the government is investigating those persons.

Every reliable information, including information received from outside the country, Palanimanickam said "is verified according to the provision of Direct Tax laws and action is taken to being undisclosed amounts to taxation".

He said the tax department levies penalty in cases of concealment and in appropriate cases, initiates prosecution proceedings.

To another question on the amount of black money confiscated during the last two years, Palanimanickam said the Income Tax department has seized assets worth Rs. 905.61 crore and Rs. 774.98 crore in the 2011-12 and 2010-11 fiscal, respectively.

"The Income Tax department takes constant action against tax evasion including tax scrutiny, surveys, search and seizure under the Direct Tax laws," Palanimanickam said.

India currently has Double Taxation Avoidance Agreements (DTAA) with 82 countries and Tax Information Exchange Agreements (TIEA) with 17 jurisdictions.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Content Management System development CMS development Content Management Solutions CMS Solutions Content Management Services CMS Services CMS Software

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