Posted On:  10 months ago


How to submit online response to Income Tax for Cash Deposit in Bank Account

Income Tax Department (ITD) intends to leverage technology and data analytics for effective utilization of demonetisation data i.e. transactions related to cash deposits during 9th Nov to 30th Dec 2016.

article author CA Chirag Chauhan

Posted On:  10 months ago


Income Tax Department (ITD) launches Operation Clean Money [स्वच्छ धन अभियान]

Income Tax Department (ITD) has initiated Operation Clean Money, today. Initial phase of the operation involves e-verification of large cash deposits made during 9th November to 30th December 2016. Data analytics has been used for comparing the demonetisation data with information in ITD databases. In the first batch, around 18 lakh persons have been identified in whose

article author One Roof Consultant

Posted On:  10 months ago


CBDT issues a set of 12 FAQs on the Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016

The Taxation and Investment Regime for Pradhan Mantri Garib Kalyan Yojana, 2016 (hereinafter ‘the Scheme’) provides an opportunity to persons having undisclosed income in the form of cash or deposit in an account maintained with a specified entity to declare such income and pay tax, surcharge and penalty totalling in all to 49.9 percent of such declared income and make a mandatory deposit of not less than 25% of such income in the Pradhan Mantri Garib Kalyan Deposit Scheme, 2016

article author One Roof Consultant

Posted On:  11 months ago


How much Gold you can Hold? Limit on domestic possession of gold in India

In current scenario the government is not giving any chance to the black money holders to escape from the black money radar, which can be generated through cash or gold. On 1st December 2016 CBDT clarified the common man regarding the limit of gold every person must own under his custody. The clarification was also earlier provided by the circular No dated 11-05-1994

article author CA Chirag Chauhan