NewsTaxIndia, Author at NewsTaxIndia

Government withdraws exemptions given for the use of Rs.500/- old notes

December 10, 2016 NewsTaxIndia0 comments797 views

Government withdraws exemptions given for the use of Rs.500/- old notes, from the mid night of December 9, 2016, for making payments at railway ticketing counters, ticket counters of Government or Public Sector Undertakings buses for purchase of tickets; For making payments to catering services … Continue Reading →

Public News

CBI Caught Senior Officer of Post Office in case of Fraudulently Exchanged Old Currency of Rs.2.95 crores

December 9, 2016 NewsTaxIndia0 comments977 views

CBI Caught Senior Officer of Post Office in case of Fraudulently Exchanged Old Currency of Rs.2.95 crores CBI REGISTERS THREE SEPARATE CASES RELATING TO ALLEGED EXCHANGE OF NEW CURRENCY AND ARRESTS FOUR ACCUSED Press Release New Delhi, 08.12.2016 The Central Bureau of … Continue Reading →

Service Tax

No Service Tax on Payment of Transaction made through Debit or Credit Cards

December 8, 2016 NewsTaxIndia0 comments1215 views

No Service Tax if Payment of Transaction is made through Debit/Credit Cards up to Rs. 2,000 in a single transaction. CBEC Notification No. 52/2016-Service Tax dated 08-12-2016 Government waives service tax charged while making payments through credit card, debit card, charge card or any other payment card; … Continue Reading →

Income Tax

Income Tax Department Unearth Exchange Banned Currency Notes into New Notes @35% Commission

December 8, 2016 NewsTaxIndia0 comments1328 views

Income tax investigations at Mumbai led to the revelation of a syndicate of ground level operators active in converting banned currency notes into legal tenders for a commission. As part of the operation to nab the culprits, Income Tax Investigation Directorate sent out a … Continue Reading →

Public News

Relief and Exemption to Promote Cashless Transaction

December 8, 2016 NewsTaxIndia0 comments1136 views

Government Introduced Various Relief and Exemption to Promote Cashless Transaction; Package for Promotion of Digital and Cashless Economy In the aftermath of the cancellation of the legal tender character of old Rs.500 and Rs.1,000 notes, there has been a surge in the digital transactions through … Continue Reading →

Public News

CBI Arrests Managers of Karnataka Bank & Dhanalaxmi Bank for Diverting New Currency Notes

December 7, 2016 NewsTaxIndia0 comments1355 views

CBI ARRESTS Managers of Karnataka Bank and Dhanalaxmi Bank for unauthorisedly Diverting New Currency Notes to some individuals in violation of Reserve Bank of India Circulars. CBI Press Release New Delhi, 05.12.2016 The Central Bureau of Investigation has arrested two private persons, residents of Bangalore in … Continue Reading →

Income Tax

Income Tax Department carries-out swift investigations in more than 400 cases since on 08-11-2016

December 7, 2016 NewsTaxIndia0 comments876 views

Income Tax (IT) Department carries-out swift investigations in more than 400 cases since the de-monetization of old High Denomination (OHD) currency on 8th November, 2016; More than Rs. 130 crore in cash and jewellery seized and approximately Rs. 2,000 crore of Undisclosed Income admitted by … Continue Reading →

Public News

Government Directed Banks to install an additional one million new PoS Terminals

December 7, 2016 NewsTaxIndia0 comments739 views

In order to facilitate the move towards cashless transactions, the Government has directed the banks to install an additional one million new PoS terminals by 31st March 2017;. 2,73,919 camps organized to open banks accounts for unorganized labour in which 24.54 lakh accounts opened. As … Continue Reading →

Public News

Government Directed Banks to install an additional one million new PoS Terminals

December 7, 2016 NewsTaxIndia0 comments770 views

Income Tax

Misuse of IDS 2016: Declarants were Persons of Suspicious Nature and Very Small Means

December 6, 2016 NewsTaxIndia0 comments865 views

Misuse of IDS 2016: Declarants were Persons of Suspicious Nature and Very Small Means :-Verification of High Value Suspicious Declarations made under the IDS 2016 An Income Declaration Scheme (IDS) was announced in the Union Budget 2016-17 under which declaration of undisclosed income or asset … Continue Reading →