Income Tax - Evasion

Businessman jailed for Income Tax Evasion

A Karnataka-based businessman has been jailed for six months for allegedly not filing his income tax arrears and interest of around Rs 7.35 crore despite reminders, an official said on Saturday. “The defaulter was arrested...

Rent Budget TDS CBDT

Remit 5% TDS on Rent above Rs. 50,000: CBDT

The Central Board of Direct Taxes ( CBDT ) asked the taxpayers to remit Tax Deducted at Source (TDS) at five percent while paying House Rent above Rs. 50,000. It is mandatory for an individual...

PRAMOD CHANDRA MODI - TAXSCAN

Pramod Chandra Mody appointed as New CBDT Chairman

After Mr. Sushil Chandra appointed as Election Commissioner by the Central Government, IRS officer Pramod Chandra Mody on Friday took over as the new chairman of the Central Board of Direct Taxes (CBDT), the policy...

CBDT Benami Property - Taxscan

CBDT Warns Benami Transactions

In a recent advisory, the Central Board of Direct Taxes ( CBDT ) has warned the benami transactions which are illegal and punishable under the law. According to the advisory issued by the Board today,...

Income Tax Notice - Taxscan

Income Tax Dept sends Notices to Multinational Companies

In order to compensate the revenue leakage in the direct taxes, the income tax department has issued prosecution notices to the directors of several multinationals, ET reported. According to the report, the tax officials have...

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