Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« General »
Open DEMAT Account in 24 hrs
 Moonlighting for Additional Income? Know Its Tax Implications
 Have you claimed education cess? Be prepared to pay tax as per the new rules
 Reserve Bank - Integrated Ombudsman Scheme, 2021 (RBIOS, 2021)
 How is tax computed for selling a house?
 How much tax do you pay on equity investments?
 Fuel taxes: Centre s gains striking since FY16
 Tax rules for NRIs on sale of assets located in India
 ITR filing: Know tax rules that apply to freelancers in India
 Delhi Real Estate News: NDMC extends last date for property tax payment with amnesty scheme
 Citizens must file THESE ITR related forms before due date Income Tax Returns
 If a senior citizen makes FD in name of his son, who will pay tax on interest?

Govt to deploy officials in tax havens to check evasion
April, 21st 2011

The income tax department will soon post 10 of its officers in tax haven nations to collect information about alleged tax evasion by Indians from these countries, an official in the finance ministry said.

Concerns have been raised in the recent past over suspicion of round tripping or routing of Indians' illicit money back into the country through tax havens.

The Central Board of Direct Taxes (CBDT) Member Prakash Chandra said that his department has formulated some strategies to deal with tax havens and the government will soon be posting 10 officers in "important countries" to help curtail the menace.

"The officers have been shortlisted and some approvals are necessary (before they are posted)," Chandra added.

Indian agencies are said to have increased their oversight after they noticed a significant surge in venture capital funds coming from Mauritius in sectors like telecom and real estate, which have been under close scrutiny in recent times for money laundering.

Earlier this week, CBDT Chairman Sudhir Chandra said that the Finance Ministry was in favour of re-negotiation of the tax treaty with Mauritius so that India could have access to banking details besides tax-related information vis-a-vis that country.

To trail alleged black money, India has concluded discussions on 11 Tax Information Exchange Agreements (TIEAs) and 13 new Double Taxation Avoidance Agreements (DTAAs), along with revision of provisions of 10 existing DTAAs in the last fiscal.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2023 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting