Tag: tax evasion
Finance minister Nirmala Sitharaman asks I-T officials to ease burden on honest taxpayers
Finance Minister Nirmala Sitharaman on Friday urged Income Tax officials to ensure convenience for honest taxpayers while taking firm action against tax evasion, stressing that…
‘Redevelopment agreement not a property receipt, so not taxable’: ITAT
Mumbai: Mere execution and registration of a redevelopment agreement does not amount to receipt of an immovable property and, therefore, cannot trigger tax under an…
GST law panel clears proposal to shield buyers’ input tax credit from supplier defaults
New Delhi: The GST Council‘s law committee Friday cleared a proposal aimed at protecting buyers from losing input tax credit (ITC) if suppliers fail to…
Indians returning from US may face higher tax as treaty benefit wanes
A tax shadow looms over professionals returning to India from the US, retirees moving back after decades, or former US employees working remotely from here….
Belgium to share past financial data with India under revised tax treaty
Mumbai: Belgium, a hub of several Indian diamond merchants and the residence of the fugitive Mehul Choksi, will share all ‘old’ information with India on…
Offshore Binance wallets under scanner as I-T dept acts against undisclosed crypto profits
Mumbai: More than 400 well-heeled individuals across India will be pulled up by the tax authorities for hiding their crypto trades on Binance, the world’s…
Income-Tax Department detects ₹700 crore in fraudulent exemption claims
New Delhi: The Income-Tax Department has detected a large number of fraudulent exemption claims by taxpayers and has incorporated additional risk assessment in processing of…
Government planning to bring shell companies out of their shell
New Delhi: The government is planning to tighten regulations to bring shell companies under stricter supervision and address regulatory blind spots. The ministries of finance,…