Latest Expert Exchange Queries

Make 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) | 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: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: cpt :: Central Excise rule to resale the machines to a new company :: TDS :: articles on VAT and GST in India :: due date for vat payment :: ACCOUNTING STANDARD :: VAT Audit :: VAT RATES :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: list of goods taxed at 4%
 
 
News Headlines »
 Income-tax (21st Amendment) Rules, 2017
 Deadline for filing income tax return nears; here are 10 common mistakes that you must avoid
 All you need to know about form 26AS
 How to file income tax return?
 7 changes that affect income tax return filing this year
 How To File Income Tax Return (ITR) Online For FY2016-17? Last Date July 31
 Last date for filing income tax return approaches: What is Form 26AS? How it can help you claim refunds
 Income Tax department to launch mobile app to make life easy for taxpayers
 6 things to remember while filing your income tax return
 Want to save on tax? Here are deductions you can use while filing ITR
 July 31 Is Last Date For Filing Tax Return. Why Form 26AS Has To Be Checked

Income tax dept publishes list of asset valuers
June, 24th 2016

The Income Tax department today published a country-wide list of registered asset valuers for those who wish to declare their untaxed funds and properties under the one-time domestic black money compliance window that opened this month.

The exhaustive list, uploaded on the official web portal of the department, includes valuers of immovable property, jewellery, plant and machinery, stocks, shares and debentures and agricultural land.

"The list is uploaded on Income Tax department's official website www.incometaxindia.gov.in and the names and addresses provided therein can be used by those who wish to declare their black assets under the ongoing one-time compliance window.

"This exhaustive list that contains the names and addresses of the registered valuers has been published after CBDT had received queries from various quarters about the ambiguity and difficulty in declaring the value of an untaxed or black asset under the window, called the Income Declaration Scheme (IDS), 2016," a senior official said.

While rules for IDS stipulate that the fair market value of the asset to be declared under the scheme will be as on June 1, 2016 as deemed to be the undisclosed income, its exact valuation procedure was creating doubts among people.

Subsequently, the official said, the Central Board of Direct Taxes had asked all regional offices in the country to send to it the names of all registered valuers and their contacts in their jurisdiction.

"The list is exhaustive and these valuers are present in various part of the country. The valuation certificate provided by them will be valid for declaration of untaxed assets under the IDS. This is an effort to help and provide clarity of action to such declarants," the official added.

Valuers are registered with the IT department under the Wealth Tax Rules.

The official added that the list will soon be put up at the regional Aaykar Sampark Kendras (ASKs) which are run by the department to facilitate taxpayer services.

A valuation of asset done by an authorised valuer is accepted as the fair value of an asset by the taxman and with this seal of approval, the declarant is expected to be sure about the market value of the asset furnished under IDS.

The IDS opened this month and will be on to take declarations till September 30.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

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