indian income tax news

KTA Demands Roll Back to Old Income Tax Portal

Karnataka Taxpayers Association has released a Press note and stated that New Income Tax Filing Portal  has  crashed within an Hour of Launching & till date not repaired. It further states that New Portal is neither user friendly and not properly developed. KTA demanded for Roll back of Old Income Tax Portal, so as to […]...

Posted Under: Income Tax |

Report Misuse of your Income Tax e-Filing account

If you think your e-Filing account may have been compromised or accessed in an unauthorized manner, then you may be a victim of cybercrime. Please report the incident to the concerned police or cyber-cell authorities as a first step....

Posted Under: Income Tax |

Vodafone – Overseas transactions between two foreign companies cannot be taxed in India under present Income Tax Act

Resuming its arguments against Rs 11,000-crore tax demand by the Income Tax (I-T) department, the British telecom giant Vodafone today contended before the Supreme Court that the present Indian income tax laws do not cover gains from overseas transactions. Senior advocate Harish Salve appearing for Vodadfone submitted before the apex cour...

Posted Under: Income Tax |

Bonus stripping under the Income tax lens

After taxing investors for dividend stripping, the Income Tax (I-T) Department is gearing up to tax bonus stripping. Official sources say scrutiny of returns filed by companies, brokers and individuals active in the stock markets and in possession of shares revealed wide use of this mechanism to evade tax....

Posted Under: Income Tax |

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