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: ARTICLES ON INPUT TAX CREDIT IN VAT :: TDS :: form 3cd :: list of goods taxed at 4% :: empanelment :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: cpt :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT RATES :: ACCOUNTING STANDARD :: articles on VAT and GST in India :: VAT Audit
 
 
News Headlines »
 How to file tax return if you have two Form 16s
 10 things you should know about Form 26 AS
 How to file income tax return without Form 16
 How to rectify income tax returns
 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

Pay up taxes or face consequences: FM
July, 05th 2006
Serving an ultimatum to people making high-value purchases, Finance Minister P Chidambaram asked them to pay taxes and file returns before July 31, failing which Income Tax department would get at them.

Armed with Annual Information Returns, Chidambaram said the tax department will "pursue every single person whose names are thrown up by AIR... sooner or later they will be reached."

"My advice to all those who have made large transactions like buying property over Rs 30 lakhs, buying mutual funds over Rs 2 lakhs in a year or credit card payment exceeding Rs 2 lakhs yearly, please file tax returns before the last date of July 31," he told reporters after inaugurating the two-day annual conference of Income Tax Chief Commissioners and Director-General.

"These are not poor, lower middle class or salaried people. These are high net worth people. If not today in three, six or nine months, Income Tax people would reach the parties," he said.

He made it clear there would be no harassment by the tax department if they file returns. But if not, "let me say the Income Tax department will find ways to reach them."

Reeling out statistics, Chidambaram said 17,52,652 high value transactions have been reported under AIR. Of 6,60,000 separate parties reported, only 1,84,980 parties have quoted PAN numbers.

The remaining 4,75,019 parties are without PAN numbers, he said, adding that there may be some overlaps, but it is in the interest of these over six lakh parties to file their returns before the due date of July 31.
 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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