Press Release Archive

Reporting of U S Tax Identification Numbers (TINs) for pre-existing accounts by Financial Institutions

Author: | Categories: Finance Ministry No comments
Reporting of U S Tax Identification Numbers (TINs) for pre-existing accounts by Financial Institutions  In USA, a Taxpayer Identification Number (TIN) is an identification number used by the Internal Revenue Service (IRS) in the administration of tax laws. It is issued either by the Social Security Administration (SSA) or

 

Sharp increase in cases of prosecutions by Income Tax Department.

Author: | Categories: Income Tax No comments
Sharp increase in cases of prosecutions by Income Tax Department The Income Tax Department has accorded the highest priority to tackle the menace of black money. With this objective in mind, the Department has initiated criminal prosecution proceedings in a large number of cases of tax offenders and evaders.

 

Income Tax steps-up actions against Benami Property Transactions

Author: | Categories: Income Tax No comments
Income Tax Department steps-up actions under Prohibition of Benami Property Transactions Act. Benami properties of more than Rs. 3,500 crore in more than 900 cases attached  Due to intensive efforts undertaken by the Income Tax Department, provisional attachment has been made in more than 900 cases of properties under the Prohibition

 

Incentives on digital purchase of Railway tickets

Author: | Categories: Government No comments
Incentives on digital purchase of Railway tickets through IRCTC website, on counters by credit/debit cards, through mobile phones etc. Discounts and waiver of service charge  Train tickets can be booked at the ticket counters through cash or through credit/debit cards, Unified Payments Interface (UPI)/ Bharat Interface for Money (BHIM)

 

ROCs has removed names of 226166 dormant companies which were not filing returns

Author: | Categories: Finance Ministry No comments
ROCs has removed/struck off  names of 226166 companies which were not filing returns for a continuous period of two or more financial years and prima facie were not conducting any business or in operation  The Government has initiated campaign against black money, wilful defaulters and erring directors. There are

 

Govt. cautions public against Bitcoins and Virtual Currencies. Warns on risk of money like Ponzi Schemes

Author: | Categories: Finance Ministry No comments
Government Cautions Public against Bitcoins and Virtual Currencies. Warns on risk of permanent loss of hard earned money like Ponzi Schemes  In an advisory on “Virtual Currencies” issued today, the Finance Ministry  has raised concern over increase in the price of Virtual ‘Currencies’ (VCs) including Bitcoin, in India and

 

GST collections for Dec 2017 is Rs 80,808 crores till 25-12-2017 out of which Rs. 18,650 crores collected as SGST

Author: | Categories: GST No comments
Total collection under GST for the month of December 2017 has been Rs. 80,808 crores till 25th December 2017  Total Revenue Collection under GST:  The total collection under GST for the month of December 2017 has been Rs. 80,808 crores till 25th December 2017.   99.01 lakh taxpayers have been registered