Tag Archives: Black Money

Anonymous donations tax treatement

By | July 28, 2015

Offerings received in donation boxes of temple can’t be taxed as black money under Sec. 115BBC IN THE ITAT MUMBAI BENCH ‘G’ Gurudev Siddha Peeth v. Income-tax Officer, Ward- 1 (1), Kalyan R.C. SHARMA, ACCOUNTANT MEMBER AND SANJAY GARG, JUDICIAL MEMBER IT APPEAL NOS. 3466 AND 3467 (MUM.) OF 2012 [ASSESSMENT YEARS 2007-08 & 2008-09… Read More »

SIT on Black money

By | July 26, 2015

Recommendations of SIT on Black Money as Contained in the Third SIT Report Misuse of exemption on Long Term Capital gains tax for money laundering Misuse of Participatory notes for money laundering Shell Companies and beneficial ownership (Reference p. 73-76 of the Third SIT Report) Action under PMLA for Trade Based Money laundering Use of… Read More »

E filing Form No 6

By | July 22, 2015

CBDT releases Java Utility for e-filing Form No 6 to declare black money July 22, 2015 CBDT releases Java Utility for E filing Form No 6 to declare black money  The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (‘Black Money Act’) has been enforced from July 1, 2015. The… Read More »