concealed income

undisclosed income found during search/survey to be distributed to members of the family running the business 2 min read

• Income Tax

undisclosed income found during search/survey to be distributed to members of the family running the business

Sourav 8 years ago

Section 132 of the Income Tax: It is but natural that the undisclosed income found during search/survey has to be distributed to all the members... Read More

Tax Rates on undisclosed income sky rocketing at 82.5%- Tax Planning and not Tax evasion need of the hour 3 min read

• Income Tax

Tax Rates on undisclosed income sky rocketing at 82.5%- Tax Planning and not Tax evasion need of the hour

Sourav 8 years ago

If you have got any credit in Bank account, that may not necessarily be an explained income. In some cases even if the assessee has... Read More

Income tax department to use analytics to look for discrepancies in bank accounts and select Income Tax Returns for Scrutiny 3 min read

• Income Tax

Income tax department to use analytics to look for discrepancies in bank accounts and select Income Tax Returns for Scrutiny

Sourav 8 years ago

It’s the first time in the Indian history that the income tax department, India will be using big data analytical tools to seek through the personal... Read More

How can you benefit from The Direct Tax Dispute Resolution Scheme Rules, 2016 2 min read

• Income Tax

How can you benefit from The Direct Tax Dispute Resolution Scheme Rules, 2016

Sourav 8 years ago

The Indian Finance Minister Mr.Arun Jaitley during the Union Budget 2016 stated that for bringing the number of taxation cases and litigation down across the... Read More

Assessment of Undisclosed Income in Income Tax Act u/s 133A 2 min read

• Income Tax

Assessment of Undisclosed Income in Income Tax Act u/s 133A

Sourav 8 years ago

This arrangement is similar to VDS (Voluntary Disclosure Scheme). This scheme is effective from 1st June 2016. Declaration of undisclosed income or assets could be... Read More