"20 November 2016" Archive

Tax Terrorism at its peak under BJP regime

Before going through the content of the article let us understand what the word Tax Terrorism means. The term ‘tax terrorism’ was first used by the current Prime Minister Narendra Modi to describe the adversarial approach adopted by tax authorities under Congress lead UPA....

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Posted Under: Income Tax | ,

Farmers allowed to purchase seeds using old Rs. 500 notes

S.O. 3490(E). (20/11/2016)

Govt decided to allow farmers to purchase seeds with old high denomination bank notes of Rs.500 from Centres,Units or Outlets belonging to Central or State Governments, PSUs, National or State Seeds Corporations, Central or State Agricultural Universities and ICAR, on production of proof of identity....

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Transparent Bank Locker Facility needed to Curb Black Money

Articles discuses Need To Introduce Transparency In Bank Locker Facility to Discourage generation of Black Money or to keep the same in check. ...

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Posted Under: Income Tax | ,

Cash in hand as on 8th November – An Asset or Liability?

Presently everybody is discussing about the government’s decision of demonetization and its effect. The decision has made people confused as to whether their Rs.500 and Rs.1000 notes are an asset or liability....

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Posted Under: Income Tax | ,

Arvind Kejriwal, What a Fall! – Ravi Shankar Prasad

Arvind Kejriwal’s statements today were a big revelation. He had announced that he would expose a scam. But what he actually exposed was the reality of his anti corruption crusade....

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Posted Under: Income Tax |

GST is important milestone in concept of cooperative federalism

GST is an important milestone in the concept of cooperative federalism where the Centre and the States have come together to address an important national issue of complex indirect tax regime in the country...

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Posted Under: Income Tax |

Rental Income from business of leasing out house properties taxable as business income

M/s Rayala Corporation Pvt. Ltd. vs. ACIT (Supreme Court)

SC held that Rental Income from business of leasing out house properties taxable as business income and not income from House property...

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Demonetisation scheme- 10 Questions PM needs to Answer

Everybody applauding the Demonetization scheme of Rs.500 and Rs.1000 notes introduced by our honourable PM Mr.Narendra Modi but is it really worth it? I would request Modiji to relieve me from following doubts....

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Posted Under: Income Tax | ,