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Third Protocol Amending India-Singapore DTAA notified today; Comes into force with effect from 27th February 2017

Taxation Laws (Second Amendment) Act, 2016 came into force on 15th December, 2016

Taxation Laws (Second Amendment) Act, 2016 came into force yesterday i.e. 15th December, 2016 and rules notified today and placed in public domain; The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 introduced...
Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016

Demonetisation: Withdrawal Cap No Violation of Fundamental Rights: Karnataka HC

Demonetisation: Withdrawal Cap No Violation of Fundamental Rights: Karnataka HC THESE WRIT PETITIONS ARE FILED UNDER ARTICLE 226 AND 227 OF THE CONSTITUTION OF INDIA PRAYING TO QUASH THE CLAUSE MO.2 (vM OF THE NOTIFICATION...
Making Digital Payments a Mass Movement in India.

Committee on Digital Payments headed by Shri. Ratan P Watal, Principal Advisor, NITI Aayog...

Committee on Digital Payments headed by Shri. Ratan P Watal, Principal Advisor, NITI Aayog and former Finance Secretary submits its Final Report to the Union Finance Minister Shri Arun Jaitley todayThe Committee on Digital Payments...
Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016

Income Tax Sleuths Unearth Innovative Methods of Laundering and Transportation of Cash at Mumbai,...

Income Tax Sleuths Unearth Innovative Methods of Laundering and Transportation of Cash at Mumbai, Nagpur and AhmedabadIncome tax investigations at Mumbai led to the revelation of a syndicate of ground level operators active in...
Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016

Income Tax (IT) Department carries-out swift investigations in more than 400 cases since the...

Income Tax (IT) Department carries-out swift investigations in more than 400 cases since the de-monetization of old High Denomination (OHD) currency on 8th November, 2016; More than Rs. 130 crore in cash and jewellery seized and...
Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016

Government of India takes policy decisions to encourage cashless/electronic transactions

Government of India takes policy decisions to encourage cashless/electronic transactions; Asks the Government employees to take the lead and maximize the usage of Debit Cards for personal related transactions instead of cash In the recent...
Benami Transactions (Prohibition) Amended Act, 2016

Verification of High Value Suspicious Declarations made under the IDS 2016

Verification of High Value Suspicious Declarations made under the IDS 2016 An Income Declaration Scheme (IDS) was announced in the Union Budget 2016-17 under which declaration of undisclosed income or assetcould be made by agreeing...
Clarifications on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016

Tax Investigations unearth mis-use of Jan-Dhan Accounts

Tax Investigations unearth mis-use of Jan-Dhan Accounts; Account holders once again urged by CBDT not to consent to any kind of mis-use of their accounts which would expose them to the dangers of being...
Various points clarified with respect to gold jewellery and ornaments

Various points clarified with respect to gold jewellery and ornaments

Various points clarified with respect to gold jewellery and ornaments; No limit on holding of gold jewellery or ornaments by anybody provided it is acquired from explained sources of income including inheritance. In order to remove...
Various points clarified with respect to gold jewellery and ornaments

Government clarifies on Jewellery holding under Taxation Laws (Second Amendment) Bill, 2016

Government clarifies that the apprehension sought to be created that the jewellery with the household which is acquired-out of disclosed sources or exempted income shall become taxable under the proposed Taxation Laws (Second Amendment) Bill, 2016,...

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