information report

The total tax arrears have galloped to nearly Rs 2 lakh crore till September 30, 2009, an amount sufficient to fund at least half of the government’s budget deficit for the current financial year. But, surprisingly, the government has said that it can only recover Rs 13,000 crore, about 6.5% of the total outstanding, from corporates and individuals on whom the tax is pending. Full Article

Today, everyone is aware of the word CIBIL. The Credit Information Bureau India Ltd. keeps the track on the creditworthiness of an individual. They have information about a person’s creditability. Cibil rates a person according to his/her payment track; this is commonly known as Cibil Score. Full Article

You can now access your Credit Information Report (CIR) directly from CIBIL. As you may be aware, your CIBIL CIR is a factual record of your credit payment history compiled from information received from credit grantors. The purpose is to help credit grantors make informed lending decisions – quickly and objectively, and enable faster processing [...] Full Article

Your company could face a tax scrutiny if it had introduced fresh capital exceeding Rs 50 lakh last fiscal, or, as in the tax lingo, during the previous year relevant to the assessment year 2008-09. This is according to the new scrutiny norms by Central Board of Direct Taxes (CBDT). Full Article