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Join Online Certification Course on GST & Income Tax (Last 3 Days to Register)

TaxGuru Edu, an educational wing of Taxguru bring you the best in class Online Certification Courses on GST and Income tax. Learn taxes in a Practical way and become an Expert in this field.  Online Certification Course on Income Tax – Batch 2 The Online Income Tax Course covers major aspects of Income Tax Law […]...

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No proposal to stop circulation of Rs 2,000 notes

An analysis of the search cases, conducted by Income Tax Department (ITD), involving cash seizures of more than Rs 5 crores in the last three Financial Years reveals that there is a declining trend visible in the seizure of unaccounted cash in denomination of Rs 2,000 notes....

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Posted Under: Income Tax |

MCA deactivates 19,40,313 Director Identification Numbers

The Ministry of Corporate Affairs (MCA) deactivated 19,40,313 Director Identification Numbers (DINs) in the MCA21 Database due to non-filing of Know Your Client  (KYC), as on 28.11.2019. This was stated by Shri Anurag Singh Thakur, Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today....

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Posted Under: Income Tax |

Income Tax Department conducts searches in NCR

The Income Tax Department conducted a search and survey action on a group having interest in infrastructure, mining and real estate. More than 25 premises were covered in NCR....

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Posted Under: Income Tax |

Advance Pricing Agreement (APA) -Programme of India- Annual Report (2018-19)

The Advance Pricing Agreement (APA) programme in India was introduced more than seven years ago. It is currently in its 7th annual cycle of examination and processing of applications. The CBDT is very happy about the fact that this programme has been accepted well by taxpayers and tax consultants. We are very proud of the results generate...

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Posted Under: Income Tax |

FAQs on Issues faced by field users in Assessment module of ITBA

While uploading Manual order for the A Y 2017-18 user is getting the following message: Manual Order cannot be uploaded for this PAN AY as processing of Assessment order u/s 147 is still pending on ITBA...

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Posted Under: Income Tax |

PAN cards now printed with Enhanced Quick Response Code

ATTENTION PAN CARD APPLICANTS PAN cards are now being printed with Enhanced Quick Response (QR) Code. Features of new PAN Card design: 1. Enhanced QR Code will contain Photograph & Signature of PAN applicant apart from existing information i.e., PAN, Name, Father’s Name/Mother’s Name, Date of Birth/Incorporation/ Formation. The af...

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Posted Under: Income Tax |

Cabinet approves Protocol between India & Chile for double tax avoidance

The Union Cabinet chaired by Prime Minister Shri Narendra Modi today approved the signing of the Double Taxation Avoidance Agreement (DTAA) and Protocol between the Republic of India and the Republic of Chile for the elimination of double taxation and the prevention of fiscal evasion and avoidance with respect to taxes on income....

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Posted Under: Income Tax |

Cabinet approves Taxation Laws (Amendment) Bill, 2019

In order to attract fresh investment in manufacturing and provide boost to 'Make-in India' initiative of the Government, another provision was inserted to the IT Act, to provide that a domestic manufacturing company set up on or after 1st October, 2019 and which commences manufacturing by 31st March, 2023, may opt to pay tax at 15% plus s...

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Posted Under: Income Tax |

Cross border Transactions and Investments (2019)

India is now one of the front runners among the developing countries for attracting FDI. Its strong and stable growth and commitment to institutional reforms has made it one of the most attractive destinations for FDI. Cross border flow of capital, human resource and technology has increased manifold over the period of time, which in [&he...

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Posted Under: Income Tax |