By: TaxAway | September 10, 2015

The Central Board of Direct Taxes (CBDT) has considered the queries received from the public about the tax compliance provisions under Chapter-VI of The Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (‘Black Money Act’) and issued a Circular (Circular No.- 15 of 2015) clarifying another set of 27 queries. Earlier the Board had issued a Circular on 6th July, 2015 clarifying 32 queries regarding tax compliance provision under the said Act.

By: TaxAway | September 10, 2015

No extension of date for filing of returns due by 30th September for assessment year 2015-16 for assessees (including Companies, Firms and Individuals engaged in proprietary business/profession etc whose accounts are required to be audited; All such taxpayers are advised to file their returns well in time to avoid last minute rush.

Category: Income Tax 

Tags: ITR, Tax Audit 

By: TaxAway | July 22, 2015

#‎Blackmoney‬: Electronic filing link to declare undisclosed foreign income and assets launched
The Income Tax department has enabled the e-filing of 'Form-6' on its official e-filing portal for declaring illegal foreign assets and black money using the one-time compliance window notified recently by government.
‘Form 6′ can be used to declare undisclosed assets under the compliance window of the new anti-black money law.