Failure to disclose assets held abroad or income earned on foreign shores in the ITR can attract a penalty of Rs 10 lakh under the anti-black money law, the Income-Tax (I-T) Department cautioned taxpayers on Sunday.
Some policy changes may be required to rejuvenate the economy, the first being to remove the focus from big business and promote small enterprises, primarily, by reducing their burden of taxation. As of now, the tax structure favours the rich; the rate of taxation on firms and individuals is almost double the corporate tax rate.
Indians never had it so good. Prosperity is at its peak. After decades of rationing and shortages, stores are chocka-block…
The Central Bureau of Investigation (CBI) on Wednesday arrested an income-tax officer here for demanding and taking a bribe of…
Technically, Rahul Gandhi played no part in the unsuccessful legal action seeking a Supreme Court authorised probe into the contents…
Technically, Rahul Gandhi played no part in the unsuccessful legal action seeking a Supreme Court authorised probe into the contents…
The Income-Tax department has issued more than 3000 notices for undisclosed income suspicion and has seized Rs.86 crore new currency…
