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 RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: TAX RATES - GOODS TAXABLE @ 4% :: TDS :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: empanelment :: Central Excise rule to resale the machines to a new company :: articles on VAT and GST in India :: due date for vat payment :: form 3cd :: cpt :: ACCOUNTING STANDARD :: VAT Audit :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
News Headlines »
 Section 35 of the Income-tax Act?
 Notification regarding extension of last date w.r.t submission of closing stock by dealer.
 Integrated Goods and Services Tax (IGST) Rules, 2017 (As on 15.11.2017)
 Central Goods and Services Tax (CGST) Rules,2017 (As on 15.11.2017)
  101st Constitution Amendment Act, 2016
 Pr. Commissioner Of Income Tax-6 Vs. Mccain Foods India Pvt. Ltd.
 Section 10 of the Income-tax Act, 1961
 Income tax returns filing: No tax on gift received from relatives in form of cash
 Income tax returns (ITR): Here is why you need to pay higher tax on other incomes
 GST Update On Issuance Of Debit Notes And Credit Notes
 How Mutual Fund Investments Can Help Save Income Tax

Income Tax Department has begun enquiry into firms running from tax havens
August, 14th 2013

The Income Tax Department has initiated enquiries on the issue of Indian entities operating from tax havens as stated by International Consortium of Investigative Journalists (ICIJ), Parliament was informed today.

"Income Tax authorities have started enquiries into the matter," Minister of State for Finance Jesudasu Seelam said in a written reply to Rajya Sabha.

Such enquiries include taking up the matter with competent foreign authorities to obtain information relevant for the investigation, he said, adding, further action under direct taxes would follow on completion of such enquiries.

ICIJ had recently uploaded information on its website icij.org, inter alia, containing particulars of certain entities including trusts, fund companies created in offshore locations such as British Virgin Islands, Cayman Islands etc, the Minister said.

Such information contains particulars of 498 Indian addresses with names etc, who prima facie appear to be connected with some of the offshore entities, he added.

The information available on the website of ICIJ does not reveal particulars of financial transactions of the offshore entities or Indian persons, the Minister said.

Seelam also said the list contains two names which are also the names of two Members of Parliament.

During the enquiries, he said, one of the MPs has denied having any relationship with the entity named against his name on the website of ICIJ.

The other MP stated that without prejudice to his being a 'Non-Resident' from Assessment Year 2005-06 onwards, he is not required or obliged to furnish details relating to his overseas business interest and bank accounts, he said.

The company mentioned against his name on the website of ICIJ was struck off from the register of the Registry in the year 2010, the Minister said.

In reply to a separate question, Seelam said no real estate company has been found guilty of money laundering or contravention of FEMA during the last 3 years.

"A show cause notice for the contravention of relevant provisions of FEMA 1999, has been issued to Emaar MGF Land Ltd on June 6, 2013, " he said.

The amount involved in the alleged contravention is Rs 8,600.80 crore, he said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - We Bring IT. Offshore software outsourcing company. We use Global Delivery Model (GDM) and believe in Follow The Sun principle

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