Prime Minister Narendra Modi attending the joint annual conference of the CBDT and CBEC will help only if the tax officials are allowed to work independently and there is no fear of CAG scrutiny hampering their career.
Switzerland today said it will relax norms for providing information to foreign nations seeking banking details about their citizens on the basis of 'stolen data', a move that would benefit India in its fight against the blac
The Income Tax department is planning to carry out nationwide all communication related to the scrutiny of returns through e-mails from the next fiscal to reduce harassment of tax payers by eliminating interface between asses
In taxation parlance, pursuant to the recent Finance Act 2015 which has been legislated, 2 per cent additional surcharge has been proposed on individuals having a taxable income of Rs 1 crore (Rs 10 million) and above.
Tax authorities in India have the power of initiating scrutiny assessment under section 143 (3) of the Income Tax Act 1961, if they have a reason to believe that the individual has filed incorrect particulars or suppressed hi