Corporate Law : Explore the Prevention of Money Laundering Act (PMLA), its implications, recent amendments, and the role of financial professional...
Corporate Law : Dive into the nexus between Electoral Bonds and money laundering in India, exploring legislative challenges, compliance requiremen...
Income Tax : This type of black money primarily originates from illegal cash transactions. These funds often end up in foreign banks, making it...
Income Tax : Explore implications of Black Money Act on foreign assets and income for residents. Understand disclosure requirements, penalties,...
Income Tax : Explore the rules, tax implications, and measures against black money in real estate transactions. Understand the impact on the in...
Income Tax : Explore Income Tax Department's advisory on reducing cash transactions. Learn about societal, individual, and national factors dri...
Goods and Services Tax : GST Council recommended that State can decide on imposition of requirement of e-Way bill for intra-state movement of gold & preci...
Income Tax : Undisclosed credits of Rs. 20,353 crore detected with respect to 930 India linked entities in Panama and Paradise Paper Leaks As o...
Income Tax : As on 31.05.2021, assessment orders under section 10(3)/10(4) of the Black Money Act, 2015 have been passed in 166 cases, wherein ...
Income Tax : Media reports allude to the fact that the figures reported are official figures reported by banks to Swiss National Bank (SNB) and...
Income Tax : Read Madras High Court's judgment granting 45 days to obtain bank statements for tax case under Black Money & Income Tax Act....
Income Tax : Delhi High Court allows NRI businessman to travel, quashing the LOC opened for investigation under the Black Money Act, setting co...
Income Tax : Explore Delhi High Court's decision allowing the revenue to challenge Black Money Act proceedings in PCIT vs. Ashok Kumar Singh. D...
Corporate Law : Delhi High Court held that PayPal is liable to be viewed as payment system operator and obliged to comply with reporting entity ob...
Income Tax : In the case of Vikash Marda Vs Union Of India, the Calcutta High Court instructs CIT(A) to expedite pending appeals concerning ass...
Corporate Law : Explore 2023 updates to Prevention of Money-laundering (Maintenance of Records) Rules. Learn how these changes impact trust, contr...
Income Tax : CBDT notifies Special Courts in Odisha vide Notification No. 127/2022-Income Tax | Dated: 26th December, 2022 under Black Money ...
Income Tax : Designation of the Courts in the Himachal Pradesh Special Courts for the purposes of section 280A of the Income tax Act, 1961 and ...
Income Tax : Notification No. 68/2022- Income Tax- Designation of Courts in Uttarakhand as Special Court for the purposes of section 280A of t...
Income Tax : Vide Notification No. 44/2022-Income Tax, Dated: 22.04.2022 CBDT designates Court in the State of Madhya Pradesh as the Special C...
, Unregulated Deposits Scheme Ordinance is an Ordinance to ban unregulated deposits as well as to protect the interest of Depositors. This ordinance was introduced on 21-Feb-2019. Everyone needs to study this ordinance of deposit and protect himself rather than believing on fake news.
Introduction: – 1. On 21.02.2019, Govt. Of India has brought Banning of Unregulated Deposit Schemes Ordinance 2019 with following objectives: – a) For banning of unregulated deposits schemes; b) To protect the interest of depositors; and c) Other matters relating to or connected to the above two objectives 2. The Banning of Unregulated Deposit Schemes […]
(1) This Ordinance may be called the Banning of Unregulated Deposit Schemes Ordinance, 2019. (2) It extends to the whole of India except the State of Jammu and Kashmir. (3) It shall come into force at once.
Cabinet approves Promulgation of the Banning of Unregulated Deposit Schemes Ordinance, 2019 The Union Cabinet chaired by Prime Minister Narendra Modi has approved the Promulgation of Unregulated Deposit Schemes Ordinance, 2019. Benefits: The proposed Ordinance will immediately tackle the menace of illicit deposit taking activities in the country launched by rapacious operators, which at present […]
This DPT 3 form is a multipurpose form which may be in use for i) return of deposits, ii) return of disclosure of money or loan received by a company but not considered as deposit as per rules and iii) one time return for disclosure of details of outstanding money or loan received by a company but not considered as deposit.
Own a home in Dubai? Beware! You are under Income-tax scanner Income Tax (IT) department is scrutinizing many Indians who have purchased properties in Dubai in the last few years under a new initiative. Based on the Intelligence gathered, the IT department’s Intelligence and Criminal Investigation (I&CI) wing has started issuing tax notices to Indian nationals who […]
Where assessee was given an opportunity to make the disclosure with regard to foreign bank accounts and the amount lying thereat however assessee failed to avail the opportunity to make disclosure with regard thereto while submitting his return in the proceedings under search and seizure and also before Settlement Commission, the authorities was justified to initiate prosecution as per the provisions of Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.
Anti-black money measures brought undisclosed income of about Rs 1.3 Lakh Crore to tax Rs 6,900 Crore worth Benami assets and Rs 1600 Crore worth foreign assets attached 18% growth in direct tax collection in Fy 2017-18 Tax base increased by 1.06 Crore people filing ITR for 1st time mainly on account of demonetization The […]
DO NOT ENTER INTO BENAMI TRANSLATIONS. IT’S ILLEGAL AND PUNISHABLE Benami Transaction is an arrangement in which a property (movable or immovable) is transferred to or held in the name of one person (Benamidar), but is actually owned and enjoyed by another person (beneficial owner). For exceptions – refer to The Prohibition of Benami Property […]
IT’S TIME TO SAY NO TO CASH ! Go, Cashless. Go, Clean DON’T… Accept cash of Rs. 2,00,000/- or more in aggregate from a single person in a day or for one or more transactions relating to one event or occasion Receive or repay Rs. 20,000/- or more in cash for transfer of Immovable Property Pay more than […]
