The Valuation Standards Board of ICAI and ICAI Registered Valuers Organisation (ICAI RVO) are bringing out this Third Series of publication on ‘Valuation: Professionals’ Insight’ to give a thoughtful insight of the practices followed by other valuers and professionals. With globalisation and dismantling of trade barriers, corporates are increasingly making international forays- be it… Read More »
CBDT simplifies the process of assessment in respect of Startups Posted On: 10 AUG 2019 The Finance Ministry has simplified the process of assessment in the case of Startup entities. In cases where scrutiny assessments of Startup entities are pending, the CBDT has decided that: i) In case of Startup Companies recognized by DPIIT which… Read More »
Income Tax Department detects Benami business of running of petrol outlets in Meghalaya 10 AUG 2019 7:27PM In a swift and coordinated action on Friday, 2nd August 2019, the Investigation Wing of Income Tax Department, NER carried out searches on certain businessmen in Meghalaya found to be involved in running a web of petrol pumps… Read More »
Income-tax department has conducted a search action in Tamil Nadu and detected more than Rs. 700 crores of undisclosed income. The modus operandi involved over invoicing of purchase of raw materials & inflated value of payment received from suppliers. Further, 4.5 crore cash was also recovered from the car in which the employees were moving… Read More »
Income Tax Return Filing Clarifications by CBDT AY 2019-20