Income Tax News

Questionnaire released for new Direct Tax law

22 March 2018 at 11:12

Stakeholder engagement by the Task Force drafting the new Direct Tax LawA Task Force has been constituted to review the Income-tax Act, 1961 and to draft a new Direct Tax Law in consonance with the economic needs of the country.In this endeavour of d

Posted in Income Tax | 10518 Views

Action taken by ICAI on PNB matter

10 March 2018 at 12:42

Immediately after the report of major fraud in Punjab National Bank coming out in the various Newspapers, the ICAI has taken suo moto cognizance of media reports and as a proactive step has sought assistance by writing to various investigating arms o

Posted in Income Tax | 3 comments | 5442 Views

87.79 crore banks accounts have been linked with Aadhaar

10 March 2018 at 12:38

As per the latest available information as on 05.03.2018, number of Aadhaar cards linked with PAN is 16,65,82,421 . Further, as on 02.03.2018, 8779.65 Lakhs Current Accounts and Savings Accounts have been linked with Aadhaar.There are number of secur

Posted in Income Tax | 2 comments | 2910 Views

Direct Tax collection show a growth of 19.5% till Feb 2018

09 March 2018 at 16:49

Direct Tax collections for F.Y. 2017-2018 show growth of 19.5% up to February, 2018The provisional figures of Direct Tax collections up to February, 2018 show that net collections are at Rs.7.44 lakh crore which is 19.5% higher than the net collectio

Posted in Income Tax | 2577 Views

GDP growth revised to 6.6% in 2017-18

01 March 2018 at 10:38

Finance Ministry: Robust growth in manufacturing and significant acceleration in construction mark a turnaround in the country’s economic growth momentum; Heralding an improvement in the investment climate, real gross fixed capital formation is

Posted in Income Tax | 2337 Views

New facilities for UAN Aadhar linking introduced By EPFO

28 February 2018 at 10:45

Employees' Provident Fund Organisation (EPFO) has introduced UAN-Aadhaar linking facility for the convenience of members using EPFO Link in UMANG Mobile App. This is in addition to the existing web facility already available at EPFO's we

Posted in Income Tax | 5490 Views

Revised Form 10A for Registration of Charitable Trust

27 February 2018 at 13:58

Central Board of Direct Taxes (CBDT) on 19th February 2018 vide Notification No. 10/2018 has revised the format of Form 10A - Application Form for Registration of Charitable and Religious Trust under section 12A of the Income Tax Act, 1961.In the Inc

Posted in Income Tax | 20262 Views

Cabinet approves new bill to ban Unregulated Deposit and Chit Funds Schemes

21 February 2018 at 11:16

Cabinet approves New Bill to ban Unregulated Deposit Schemes and Chit Funds (Amendment) Bill, 2018In a major policy initiative to protect the savings of the investors, the Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its a

Posted in Income Tax | 3708 Views

PNB scam a strong trigger to cut Govt stakes in banks : Assocham

20 February 2018 at 10:58

The Punjab National Bank's fraudulent transactions worth Rs 11,300 crore should act as a strong trigger for the government for reducing its stake to less than 50 percent in the banks which should then be allowed to work on the lines of private se

Posted in Income Tax | 11 comments | 3510 Views

CBI registers case for causing alleged loss of Rs 4886 crore to PNB

19 February 2018 at 11:06

CBI REGISTERS A CASE AGAINST MANAGING DIRECTOR OF A MUMBAI BASED PRIVATE COMPANIES AND OTHERS INCLUDING THEN BANK OFFICIALS FOR CAUSING AN ALLEGED LOSS OF RS.4886.72 CRORE(APPROX) TO PNB; CONDUCTS SEARCHES AT 26 LOCATIONSThe Central Bureau of Investi

Posted in Income Tax | 2 comments | 2406 Views