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Income Tax Prosecution for not disclosing foreign bank accounts. Petition for Joint Trial rejected in complaints u/s 276C and 277

Income Tax Prosecution for not disclosing foreign bank accounts. Special Judge rejects petition for Joint Trial in all complaints u/s 276C and 277 ABCAUS Case Law Citation: ABCAUS 2292 (2018) (04) AC In the instant case, the petitioner husband and wife (collectively called “accused”) had filed revision petitions …

PMLA-Property held outside country, amended provisions effective from 19th April, 2018

PMLA-Property held outside country, amended provisions effective from 19th April, 2018 The Finance Act has made an important amendment in the definition of “proceeds of crime” as appearing in Prevention of Money Laundering Act, 2002. Previously, the definition was amended in 2015 to include “property equivalent held within …

CBDT warns salaried taxpayers for under-reporting of income or claim inflated deductions

CBDT warns salaried taxpayers for under-reporting of income or inflate deductions Centralized Processing Center, Bengaluru Income Tax Department Advisory Bengaluru, 16th April, 2018 Sub: Cautionary Advisory on Reports of tax evasion by under-reporting income or inflating deductions/Exemptions by salaried taxpayers. The Income Tax Department has from time to time …

Central Goods and Services Tax 4th Amendment Rules 2018-Notification

Central Goods and Services Tax (Fourth Amendment) Rules 2018-Notification Government of India Ministry of Finance Department of Revenue Central Board of Indirect Taxes and Customs Notification No. 21/2018 – Central Tax New Delhi, the 18th April, 2018 G.S.R……(E).- In exercise of the powers conferred by section 164 of …