• Registered Users :
  • 163425
  • Current Active Users :
  • 103716

News INCOME TAX

  • Aug 18, 2017
  • I-T plans to pursue property-holders who have never filed income tax returns

    Income tax authorities plan to pursue those who have properties in their name but haven’t ever filed income tax returns on the suspicion that these may be benami holdings on behalf of people looking to conceal their wealth. The exercise is part of the government’s crackdown on black money. The findings have emerged from the analysis of vast amounts of data that the government has collected. “We have a lot of data from various sources including on investments in property by people who have never filed returns,” said an income tax official. This information will be verified to ascertain the source of income used for the purchase of the properties and to see if these are being held by benami owners.

    Source - http://economictimes.indiatimes.com