Page-8 of Tax

India, Monaco ink TIEA

August 6, 2012

India and Monaco inked Tax Information Exchange Agreement (TIEA). The move will facilitate the both the countries to check tax evasion and money laundering. It is 9th TIEA inked by India. Core features of the agreement: · It follows global ..

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India detected undisclosed income equivalent to Rs 565 cr in France

July 31, 2012

Undisclosed income of Indians amounting Rs 565 crore has been detected in France. This revealing information was shared by France which it shared under the exchange of information clause of the Double Taxation Avoidance Agreement (DTAA) which India had signed ..

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Prime Minister constitutes committee to review taxation of development centres & IT sector

July 31, 2012

To review taxation of development centres and IT sector a committee has been established by the Prime Minister Dr Manmohan Singh. The Committee will function in consultations with stakeholders and related government departments to finalize the Safe Harbour provisions announced ..

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India, Indonesia ink DTAA

July 29, 2012

In order to prevent double taxation and fiscal evasion, India and Indonesia signed double taxation avoidance agreement (DTAA). The relationship b/w both countries is excellent and has strong historical and cultural ties. Both countries hope to achieve the trade target ..

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Salaried employees to get more tax benefits

July 22, 2012

Now, salaried employees who are earning up to Rs 5 lakh a year, are not required to file income tax returns for assessment year 2012-13. The immunity from filing I-T returns is valid in those conditions, when total income of ..

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E-file returns compulsory if income exceeds Rs 10 Lakhs

July 3, 2012

People with income of Rs 10 Lakhs per annum will have to file their tax returns electronically beginning 2011-12 Financial year. The CBDT (Central Board of Direct Taxes) has issued a notification making e-filing compulsory for assessment year 2012-13 onwards ..

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