The Income Tax Department (IT) is set to issue notices to one lakh entities and individuals, who deposited huge cash in banks Post Demonetisation and whose tax returns have been picked for detailed probe into

The Revenue department has initiated proceedings against more than 10,000 people under the Benami Law for the suspicious transactions after demonetisation. The notice sends to 10,000 people sought for the details related to the source

With a view to tackle black money holders, who tried to misuse the provisions for revising return or belated return after demonetisation, the Central Board of Direct Taxes (CBDT) has issued stringent conditions to be

It has been almost a little more than six years since the Government demonetized the classic and much beloved 1000 and 500 rupee notes, in an attempt to curb circulation and accumulation of black money

The Central board of Direct Taxes (CBDT) recently directed its officials to avid re-opening of past assessment merely invoking the increase in turnover due to use of digital mode of payment post demonetization. This is

On the second anniversary of the historic decision of the Government to demonetize Rs. 1000 and rs. 500 currencies, the Union Finance Minister, Arun Jaitley has written an article on the impact of demonetization in

Demonetisation of high value currency notes would leave quite a negative impact on small and medium enterprises, rural consumption and job creation in the immediate run while the large and well organised sectors of the

The number of income tax payers has increased after demonetization. During the period of 09.11.2016 to 31.03.2017, 1.96 crore returns were filed as compared to 1.63 crore returns filed during corresponding period of FY 2015-16

In the aftermath of the cancellation of the legal tender character of the old Rs. 500 and Rs. 1000 notes, the Government of India has been receiving several suggestions including those from the State Governments.

The Government has initiated campaign against Black Money, wilful defaulters and erring directors. There are a number of registered companies that are facing action from authorities after the demonetization. Prior to Demonetisation, 16,08,637 number of

The Time limit to deposit old Rs 500 and Rs 1,000 notes in banks ends on today i.e. December 30th 2016. From next week onward, those still holding the scrapped currency can deposit it only

“FICCI would urge the Government and RBI to consider bringing down the interest rates that could help stabilise the demand in the economy. A 50 basis points cut in repo rate should be considered by

In what is undoubtedly a major breakthrough in its fight against black money and shell companies, vital information has been received by the Government of India from 13 banks regarding the bank account operations and

The Income Tax Department started raising queries on suspicious bank account deposits, including the deposits made in co-operative banks,post demonetization. Reportedly, the department could start summoning bank account holders in the coming month or two.

To further support farmers for the current Rabi crop, the Government has decided to allow farmers to purchase seeds with the old high denomination banknotes of Rs.500 from the Centres, Units or Outlets belonging to