INCOME TAX UPDATES

Sabka Vishwas Scheme 2019 – Legacy Dispute Resolution Scheme notified ; to be operationalized from 1st September 2019

n theUnion Budget 2019-20, the Hon’ble Finance Minister announced the Sabka Vishwas-Legacy Dispute Resolution Scheme, 2019. The Scheme has now been notified and will be operationalized from 1st September 2019. The Scheme would continue till 31st December 2019. Government expects the Scheme to be availed by large number of taxpayers for closing their pending disputes relating to legacy Service

Sabka Vishwas Scheme 2019 – Legacy Dispute Resolution Scheme notified ; to be operationalized from 1st September 2019 Read More »

SPECIFIED FINANCIAL TRANSACTIONS (SFT) U/S 285BA OF INCOME TAX ACT 1961 (14 TRANSACTIONS जिन पे रहती है आयकर विभाग की नजर)

Cash payment to purchase of bank drafts or pay orders or banker’s cheque Aggregate to Rs.10 Lakhs or more in a FY (REPORTED BY: A banking company or Co-operative bank to which Banking Regulation applies) Cash payment for purchasing any prepaid RBI instruments like RBI bonds etc. aggregate to Rs.10 Lakhs or more in a

SPECIFIED FINANCIAL TRANSACTIONS (SFT) U/S 285BA OF INCOME TAX ACT 1961 (14 TRANSACTIONS जिन पे रहती है आयकर विभाग की नजर) Read More »

Translate »