Modus Operandi of Income Tax Scrutiny The main objective of the IT officer during scrutiny is to make sure that the income shown in the return is real and there is no tax evasion.
News, Analysis & Opinion about Indian Business
It seems that the government is all set to make Income Tax more complex and wipe away transparency from it.
If you are thinking that there is very little left in terms of appreciation in Reliance Industries especially the stupendous returns it has given post demerger and split with Anil Ambani, then there is some food for thought.
Microsoft organized a dance performance inside the Taj Mahal in Agra to celebrate the launch of Windows Vista and Office 2007 suite in India.
The CBDT has recently issued a circular specifying instructions and clarifications on furnishing of returns in the new ITR forms: It is mandatory for the proprietory and partnership firms, which are tax auditable u/s 44AB and companies (other than claiming exemption u/s 11) to electronically furnish the return of income/fringe benefits.
This is purely for the rich and elite, and Mumbai fits the bill perfectly as it hosts all the rich and famous of India whether its Bollywood stars, corporate tycoons, cricketers and politicians.
While SEBI is busy framing rules and laws for streamlining the investment in shares, the smart investors manage to find out some or the other way to outdo the norms.
Future Group is betting big on development of retail media spaces through Future Media. It has launched the first retailer-owned channel in India called Future TV currently being aired at Big Bazaar, Pantaloon, Central, Food Bazaar and Home Town stores in Mumbai, Delhi and Bangalore.
Despite the dramatic growth of internet video sharing sites like YouTube, TV viewing isn’t heading south.
Though our India Inc. website is still a young baby, we are extremely delighted to find that the site has been picked by the Times Online UK as one of the best business blogs in India.
For India’s Formula One racing fans, finally there may be some good news in the offing.
With the offloading of 5% stake in Reliance Tower Infrastructure Ltd by Reliance Communications to 7 financial investors valuing the tower business of the company at astonishing Rs.27000 crore, the analysis has now shifted as to how the tower business would contribute in the growth of telecom companies.
India’s leading real estate players, DLF and Unitech are considering building homes that could sell for Rs.10 lakh to fulfill the demand of mass housing created as a result of economic growth.
According to a Gartner report, after China, India would be fastest growing mobile telephony market in Asia Pacific with revenues slated to increase at a CAGR of 18.4% to reach $25 billion in 2011 from current $9 billion.
The Delhi Stock Exchange (DSE) lying defunct since 2004 may soon start trading once again. It is looking at diluting 51% stake to 11 investors.
While little is known about the launch of Yahoo! Panama in India, Yahoo! today joined hands with Tyroo Ads – an internet advertising company focused on Indian websites.
Jajah India allows you to make or received international phone call using the traditional landline or mobile phone without the computer or internet.
FM has clarified that July 31 will be the last date for filing returns thereby ruling out any postponement, and requested taxpayers not to delay the filing process.
The finance ministry in the coming months is completely going to reform the PAN card by issuing biometric smart card which contains cardholder’s fingerprints, retinal and iris scan making duplication almost impossible.
As the last date for filing returns for the Asstt.Year 2007-08 is drawing to close, a lot of issues confuse the assessees as they fill the new forms.