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Income tax Department Vision 2020: It is time to think the Unthinkable

Vision is aspirational but it is important to define the desired outcomes. The next logical step is to specify the physical action points that would result in the desired outcome. A structure for the Vision 2020 is being proposed, which also includes a format specifying the milestones over the next few years, to achieve these […]...

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Posted Under: Income Tax |

Income Tax Department conducts searches on business group in Goa

The Income Tax Department carried out search operation on 10/10/2019 covering six premises of two groups involved in the sale-purchase of hotel resort at Goa. One of the groups covered currently owns a large property at Goa on which a 5 star resort project is being built. The group is engaged primarily in Hotels & Hospitality, real est...

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Posted Under: Income Tax |

Income Tax Department conducts searches on coaching institutes

Income Tax Department, conducted a search action on 11th October, 2019 in the case of a business group based in Namakkal, Tamil Nadu. The group is mainly into running of educational institutions, and coaching institutes for competitive exams like NEET, etc....

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Posted Under: Income Tax |

Join Online Income Tax Certification Course by TaxGuru Edu (Last Day to Register)

TaxGuru Edu (an educational wing of Taxguru) brings you the best Online Income Tax Certification Course – Oct, 2019 Batch. Learn Income Tax in a Practical way and become an Expert in this field. Batch Starts on 13th Oct, 2019 (Sunday) The Online Income Tax Course covers detailed analysis of major aspects of Income Tax […]...

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CBDT release Time-series and income-distribution data

Central Board of Direct Taxes has further released Time-series data updated up to F.Y. 2018-19 and income-distribution data for A.Y. 2018-19 (F.Y. 2017-18). ...

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Posted Under: Income Tax |

OECD’s proposals are canonising gradualism and increasing inequality

What is happening today? Today, under the mandate of the G20, the OECD Inclusive Framework has just presented a new stage of the BEPS 2.0 initiative, to address the challenges of taxing multinational corporations in the digital era. Previous attempts at tax reform have only tried to plug the holes in our international tax system […...

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Posted Under: Income Tax |

Revenue Secretary inaugurates National e-Assessment Centre of IT Dept.

Revenue Secretary inaugurates National e-Assessment Centre of IT Department Faceless e-Assessment for income tax payers launched New Initiative shall impart greater efficiency, transparency and accountability in the assessment process Posted On: 07 OCT 2019 Revenue Secretary Shri Ajay Bhushan Pandey inaugurated National e-Assessment Schem...

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Posted Under: Income Tax |

RfP for Concurrent Audit of Operations of Branch Office, SIDBI

Small Industries Development Bank of India Request for Proposal (RfP) For Concurrent Audit of Operations of Branch Office, SIDBI. CA will have to submit the following reports to the Management...

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Posted Under: Income Tax |

Reform of international tax system: radical change or yet another short-term fix?

In a new report, ICRICT evaluates the forthcoming OECD solution to tax multinationals and calls for a fair and comprehensive reform that would tax multinationals as single firms, using formulary apportionment based on objective factors, together with a minimum effective corporate tax rate of 25%. A significant challenge to resource availa...

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Posted Under: Income Tax |

FM to inaugurate National e-Assessment Centre

FM to inaugurate National e-Assessment Centre of Income Tax Department Tomorrow Shall usher introduction of Faceless e-Assessment in the Income Tax Department New Initiative shall impart greater efficiency, transparency and accountability in the assessment process The Income Tax Department is ushering in a paradigm shift in its working by...

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Posted Under: Income Tax |