India Tax

Not one person filed an online tax return in Lucknow

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By Vipin Agnihotri

In an age of Internet, it’s quite surprising that not even a single individual return has been filed online in Lucknow. When The India Street contacted the Income Tax (I-T) department of Lucknow, this fact came into light. It is worth mentioning in this regard that there is a separate assessing officer in the department to look after the individual returns that have been filed online. The 'systems' division of the Lucknow Income Tax department that has a responsibility of handling the data on the same said it has not received any online return so far.

Noida and Greater Noida to Increase Circle Rates

By Dr Suvrokamal Dutta

It has come into the notice of The India Street that after Delhi, Gurgaon and Ghaziabad the district administration of Noida and Greater Noida would soon increase their circle rates.

New Value Added Tax is Going to Hurt Investors and Homebuyers

By Vipin Agnihotri

Indians Should Carefully Examine the Benefits Paying Off Their Home Loans

By Vipin Agnihotri

New Capital Value Based System in Mumbai to iron out the big disparity in property taxes

By Vipin Agnihotri

In an attempt to iron out the big disparity in property taxes in Mumbai, state government is all set to finalize the levy of property tax on the basis of Capital Value Based System (CVS). Initial signs are that few Island city residents may be exempted from the new system, or may get discounts in property tax.

New Service Tax Amendment to Target Wealthy in India

Amendments in service tax protocols: Advantageous to smaller housing societies

By Dr Suvrokamal Dutta

Filing of returns difficult with new ITR forms

By Dr Suvrokamal Dutta

Replacing a single page ‘Saral’ form with ITR forms is set to make filing of returns difficult. The new series of ITR forms, from 1 to 8 is not at all assesses-friendly and voicing the same is Income Tax Bar Association.

Nishith Desai on Strategy, Law and Tax in India Part 1

Nishith Desai's international law firm is a key player in India, specializing in tax law and strategy. His 30-year old company's focus is on globalization of Indian corporations, international listings, M&A transactions, joint ventures and strategic alliances, complex information technology and business-process outsourcing transactions.

RBI working overtime to minimize liquidity in the face of relentless forex inflows

It has come into the notice that the Reserve Bank of India (RBI) and the government are working on new methods to minimize liquidity in the face of relentless forex inflows without only relying on instruments such as the cash reserve ratio (CRR).

PAN to check tax evasion in India

By Vipin Agnihotri

Permanent Account Number (PAN) is fast emerging as a tool for Income Tax department in India to check tax evasions. There are many transactions where quoting of PAN has been made mandatory. And number of economic activities requiring mention of the same is expected to go up.

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