"05 December 2016" Archive - Page 3

Additional deduction of Rs. 50000 for NPS Investment

Through the Finance Act, 2015, a separate section 80CCD(1B) has been inserted in the Income Tax Act, 1961 , wherein a subscriber under NPS is allowed a deduction in computation of his total income, whether or not any deduction is allowed under Section 80CCD(1)...

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Posted Under: Income Tax |

SEBI maintains constant vigil & Takes action in case of any abnormality

As far as surveillance activities are concerned, SEBI maintains constant vigil in the market and in case of any abnormality, takes appropriate action against the concerned entities. The systems and practices are in place to promote a safe, transparent and efficient market and to protect market integrity....

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Posted Under: Income Tax |

Govt sets up Special Cell to Monitor Fake Currency

Government has set up a Special Cell to monitor the receipt of fake currency notes and inform such instances to the Economic Offences Wing of State Police, Intelligence/Enforcement agencies of the Central Government and also to the Ministry of Finance....

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Posted Under: Income Tax |

Step to encourage Tax compliance without Harassment by IT Department

(a) whether the Government is aware that roadside eatery owners in various cities including Mumbai have made declaration of their unaccounted income and properties after IT raids; (b) if so, the details thereof; and (c) the steps taken by the Government to encourage such evaders to declare unaccounted income without subjecting them to any...

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Posted Under: Income Tax |

Income Tax Dept Suo- Moto takes Action on SEBI Investigation Report

Income Tax Department has referred to the SEBI outcome of investigation conducted in large number of companies listed on the stock exchanges, trading in which was manipulated and misused, inter alia, for purposes of large scale tax evasion....

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Posted Under: Income Tax |

Disclosure of information of Income Tax Evaders

The disclosure of information respecting assesses under Section 138 does not, in general, prohibit furnishing of information about tax evaders. ...

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Posted Under: Income Tax |

Utilisation of Funds of IDS 2016 to be firmed up after 30.09.2017

Ddates specified for payment of tax, penalty and surcharge under Income- Declaration Scheme, 2016, are 30.11.2016, 31.03.2017 and 30.09.2017. In view of the same, the total amount collected under the Scheme shall be firmed up after the last date of installment i.e. 30.09.2017....

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Posted Under: Income Tax |

GST Council to take Final decision on Amendment in Draft GST Law

(a) whether the GST (Goods and Services Tax) Council has invited amendments from the various States/UTs for GST implementation from next financial year, if so, the details thereof; (b) whether any amendments has proposed by the States/UTs in GST Council Meeting and if so, the details thereof;...

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Posted Under: Income Tax |

25.67 crore PMJDY accounts opened till 25.11.2016

Under Pradhan Mantri Jan Dhan Yojana (PMJDY) from 15 August 2014 to 23.11.2016, 25.67 crore PMJDY accounts have been opened across the country....

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Posted Under: Income Tax |

Statewise & Bankwise details of Sukanya Samriddhi Account Scheme

Government is continuously monitoring the progress of Sukanya Samriddhi Account Scheme. It was launched on 2nd December, 2014 and since then the number of accounts opened under this scheme have been showing upward trend and 99,96,085 accounts have been reported opened till 31st October, 2016 and Rs. 9455.30 crore have been deposited unde...

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Posted Under: Income Tax |

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