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: VAT Audit :: empanelment :: ACCOUNTING STANDARD :: form 3cd :: ARTICLES ON INPUT TAX CREDIT IN VAT :: due date for vat payment :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: cpt :: TDS :: list of goods taxed at 4% :: ACCOUNTING STANDARDS
 
 
News Headlines »
 Have you missed the due date of filing your Tax Returns?
 What you should know about income tax refunds
 Income tax scrutiny to remain limited despite surge in returns filed
 Regarding Filing of online return for first quarter of 2017-18 extension upto 01-09-2017
 Deadline to file returns extended to 28 August for biz with transitional
 GST input tax credit form
  How to rectify income tax returns
 Govt extends tax exemption for industry in North East, hilly states
 Should you file revised Income Tax returns; find out here
 Tax Deducted at Source (TDS) in Goods & Services Tax (GST)
 10 companies that blamed GST for soft June quarter

I-T's data power to fight evasion better
July, 04th 2006
The Income Tax department is working out modalities to mine the load of financial information being gathered through third-party sources to clamp down better on tax evasion. The I-T chief commissioners and director generals conference scheduled to be inaugurated by finance minister P Chidambaram on Tuesday is expected to deliberate on ways to use the data culled from car companies, credit card providers and banks to enhance revenue collection.

The annual information report (AIR) format developed by the I-T department has now generated huge data flow on high-value transactions. But due to lack of manpower and the inability to efficiently use this information, the department has not been able to harness the information bank completely.

Tomorrows conference would also look at measures to intensify scrutiny. This is part of the exercise to identify new strategies to enhance tax collection and expanding tax base, central board of direct taxes chairman MH Kherawala said. She said the conference would also discuss measures needed to unlock the huge amounts lying in the form of tax arrears as well as focus on deepening the computerisation programme of the department.

There has been a 15% growth on the number of new assessees compared to last year. About 2.64 crore income tax assessees had filed returns in the previous year, Ms Kherawala told reporters, adding that the government expected the number to go up with its two-pronged strategy.

She pointed out that as per the new I-T rules, all the partnership firms are required to file returns irrespective of their level of profit or loss. It has also been mandatory for all those who get income beyond threshold limit of Rs 1 lakh per annum for men, Rs 1.35 lakh for women and Rs 1.85 lakh for senior citizens to file income tax returns.

For the convenience of small income tax payer, the government has set up 321 Help Centres across the country for filing tax returns which will render free-of-cost service. She clarified that the exercise is not a revenue-generating one.

There would be at least one Help Centre under every direct tax commissionerate and the centres are set up outside I-T offices, chambers of commerce and chartered accountants offices. These centres have stared functioning from June 15. The facility will be available till August 15 and would again get operational in March 1-31. The Help Centres were first started last year. The last date for filing return is July 31.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Company Search Engine Optimization Company US SEO Local SEO Company Website SEO Company Alabama SEO Company Alaska SEO Company Arizona SEO Company Arkansas SEO Company California SEO Company Colorado SEO Company Connecticut SEO Company Delawa

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