August 28, 2023: To enhance taxpayer experience and keep pace with new technology, the income tax department has revamped its website, www.incometaxindia.gov.in . The website now has a user-friendly interface, value-added features, and new modules, the department … READ FULL STORY
Among the many impacts that the Coronavirus pandemic is likely to have on India’s real estate sector, is an increased interest from non-resident Indians (NRIs). Experts are of the opinion that the unprecedented crisis … READ FULL STORY
A holding period of 24 months is crucial for a person to be able to claim tax benefits associated with long-term capital gains on property sale. Long-term capital gains give a property seller the … READ FULL STORY
The CBDT, on November 11, 2019, said that raids by the Income Tax Department have unearthed large tax evasion, involving ‘leading corporate houses’ in the infrastructure sector. The raids were conducted in the first … READ FULL STORY
Over 780 benami asset attachments worth crores of rupees, run the risk of being invalidated in the near future, as the government has failed to create a designated adjudicating authority for over a year-and-a-half … READ FULL STORY
The Income Tax (I-T) Department is matching the tax profiles of all property registrations of above Rs 30 lakhs, under the provisions of the anti-Benami Act, as action against illicit asset holders is set … READ FULL STORY
A new law to prohibit benami transactions, which provides for up to seven years’ imprisonment and fine, for those indulging in such activities, will come into effect from November 1. With a view to … READ FULL STORY
