The Income Tax Department and various investment platforms like bank, mutual fund houses, broker platforms, etc. have been discouraging cash transaction by tightening their rules for public in general in last few years. The Income Tax Department may send notice to Read more…
Category: Income Tax
The central government has eased income tax norms for the Covid hospitals, dispensaries, nursing home and Covid care centres of similar facilities for receiving cash of ₹2 lakh or above from the patients. The Ministry of Finance issued notification in this regard on Read more…
Chartered accountant firms and hospitals are under scrutiny after the revenue department found mismatches between their income tax and indirect tax filings. Tax authorities have also decided to slot consultant doctors as ‘intermediaries’ for taxation purposes even as medical services Read more…
The cryptocurrency bill aims to create a framework for the creation of an official digital currency to be issued by the Reserve Bank of India. The government is to introduce a bill to ban, with exceptions, the trading in cryptocurrencies Read more…
The Central Board of Direct Taxes (CBDT) has launched an automated dedicated e-portal on the e-filing website of the Department to receive and process complaints of tax evasion, foreign undisclosed assets as well as complaints regarding benami properties, said CBDT. Read more…