Following are the answers to the various frequently asked questions relating to GST:Question 1.What is GST? How does it work? Answer: GST is one indirect tax for the whole nation, which will make India one unified common market. GST is a single tax o ..
The Rule 114H of the Income-tax Rules, 1962 (the Rules) has been amended vide Notification No.48/2016 [S.O.2151(E)] dated 20th June 2016. In order to provide sufficient time to the reporting Financial Institutions for completing the due diligence pro ..
The Government of India has constituted a Committee with a view to simplify the provisions of the Income Tax Act, 1961, with the following composition: (i) Justice R.V.Easwar, (Retd.), former Judge, Delhi High Court and former President, ITAT- Chairm ..
In Chapter III of Second SIT report, the SIT has recommended as under: “Financial Action Task Force (FATF) on money laundering recommends ‘tax crimes’ to be made a predicate offence so that action can be taken under Prevention of Mo ..
Finance Bill to be taken up on Thursday Further to the suggestions from the Members of Lok Sabha, the Government has agreed to extend the ongoing discussion on Demands for Grants of various ministries by one day till tomorrow. As per the earlier ..
Surcharge @12% Levied on Individuals, HUFs, AOPs, BOIs, Artificial Juridical Persons, Firms, Cooperative Societies and Local Authorities Having Income Exceeding Rs 1 Crore The Union Finance Minister Shri Arun Jaitley in his Budget Speech in Lok S ..
The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, has given its approval to the following:- i. Creation of two additional benches of the Authority for Advance Rulings (Income Tax), one in New Delhi and one new bench in Mumbai; ..
Income Tax Department, Ministry of Finance, Government of India had initiated investigation into issuance of cheques by companies which are acting as entry operators to convert illegal cash into legitimate money. Recently in Kolkata, this investigat ..
remaining cases, Assessment Proceedings are at advance stage; Information About Hsbc Foreign Bank Accounts was Received from the French Authorities in Respect Of 628 Indian Persons/Entities; Necessary Investigation as Per The Provisions of Law Wil ..
The Union Cabinet, chaired by the Prime Minister Shri Narendra Modi, in a major decision, has decided to accept the order of the High Court of Bombay in the case of Vodafone India Services Private Limited (VISPL) dated 10.10.2014. This is a major co ..
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