Central Board of Direct Taxes (CBDT) asked tax officers to give taxpayers two weeks' time to respond to such notices, which can be further extended at taxpayers' request in genuine cases.
All the talk about Ease of Doing Business has come to be seen as a farce as the government’s raid raj is rearing its head again.
Identity of many others forged by miscreants to commit GST fraud
Changes in tax laws, income/expenses and salary structure are reasons you must review your tax plans every year
The bench dealt with the concept of amalgamation in its judgement and said it was unlike the winding up of a corporate entity.
The taxpayers will have to make additional disclosures in the Income Tax Return (ITR) forms as the government on Friday notified the ITR form 1-6.
Expenditure aggregating to more than Rs 800 crore has been booked in the guise of purchase of services from a specific event management entity.
The raids were launched on March 23, and the country's largest two-wheeler maker had then said it was extending full cooperation to the tax authorities.
CBDT, which is the apex decision making body on direct taxes, has extended the deadline for linking PAN with Aadhaar many times and the last date now is March 31, 2022.
A large number of incriminating evidence is reported to have been seized by the I-T Dept during search operations.
Offices and residential premises of the promoters including chairman and CEO of the group Pawan Munjal in Gurugram, Haryana, Delhi and few other locations are being covered.
The search action covered more than 45 premises in Delhi NCR, Chandigarh, Ludhiana, Lucknow and Indore.
The income tax department has confirmed that raids were being conducted at the premises of Hiranandani, but refused to give more details about it.
In a written reply to the Lok Sabha, Chaudhary said the government will come out with a definition of virtual digital assets (VDA) with a view to levy 30 per cent tax on income from the transfer of su
The CBDT chief was asked about the steps being taken by the taxman to widen and deepen the tax base in the country given that the department recorded its highest-ever direct tax collections.