How to declare Unaccounted Cash in Demonetized Notes Options and Tax
How the cash deposits of undisclosed income will be dealt with , how much tax one would have to pay. People should ideally opt for the voluntary compliance, declare the cash deposits from their undisclosed income in their tax returns, pay the tax and escape protracted...Tax on Undisclosed Income and Pradhan Mantri Garib Kalyan Yojana 2016
The Pradhan Mantri Garib Kalyan Yojana (PMGKY) notified along with other provisions of Taxation Laws (Second Amendment) Act, 2016 came into effect from 17 December 2016. It will remain open until March 31, 2017. The terms and conditions of the scheme are as under: 2....Income Tax Notice and Bank accounts with large value cash transactions
As part of its data matching exercise, Income Tax Department has identified bank accounts which have large value cash transactions. The details of bank account are visible under “Compliance” section of the e-filing portal of the related persons. The PAN holders are...Tax and penalty on Cash Deposit due to Demonetization
If you have Rs 500 and Rs 1,000 notes lying with you, there is no reason to panic if you can explain the source of the cash. Many are grappling on how to declare cash without incurring a tax liability. This article looks at Cash Deposit of Rs 500 and Rs 1000, Tax and...e-Nivaran: To raise and track Income Tax related Grievances Online
Aiming for prompt and proficient management or resolution of complaints, Income Tax Department has launched e-Nivaran, a unified grievance handling mechanism. This article discusses what is e-Nivaran, how you can raise Grievance with e-Nivaran and track any problem...Subscribe to All Our Posts
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