Knowledge Base @ Tax Management

Directorate of Income Tax (Exemption)

This directorate, which is also headed by a Director General of Income Tax, deals with cases of charitable institutions and trusts enjoying exemption from taxation under various provisions of the Income Tax Act.

-------------------------------------------------------------

Directorate of International Taxation “ Directors (International Taxation) “Under a Director General of Income Tax

With the advent of globalization, a large number of multinationals setting up base in our country and Indian enterprises acquiring businesses overseas, international taxation has emerged as a very important and specialized new area of taxation.

-------------------------------------------------------------------------------------------------

Investigation Wing of Income Tax Department

One of the important wings of the Income Tax Department is the Investigation Wing. It may also be called the enforcement machinery or the deterrence machinery of the department. The machinery works towards the broad objective of combating tax evasion.

-----------------------------------------------------------------------------------------------

Assessment Charges by Income Tax Department

A large part of the Income Tax Department is comprised of the charges of Commissioners of Income Tax, which function under the over-all supervision and control of a Chief Commissioner of Income Tax. Each Commissioner’s charge is sub-divided into ranges and each range is headed by either an Additional Commissioner or a Joint Commissioner ..

-------------------------------------------------------------------------------------------------

Combating Tax Evasion

The task of combating tax evasion and checking the proliferation of black money is a daunting one. The government has, however, been continuously striving to eradicate the menace. Towards this objective, various steps have been taken by the Income Tax Department from time to time.

-----------------------------------------------------------------------------------------------

“Money Laundering”  for Income Purposes

As the name itself suggests, laundering here refers to converting the dirty /tainted /crime money into clean /untainted / legally earned legitimate money. Money laundering involves certain processes undertaken to conceal the identity or source of illegally gained money.
-------------------------------------------------------------------------------------------------

Harmful Effects of Black Money

One may wonder how black money could harm the system when it is already a part and parcel of it. First of all, it distorts the national statistics as transactions carried out with black money do not get recorded.
-------------------------------------------------------------------------------------------------

“Tax Evasion” for Income Tax Purpose

It is also important to understand the meaning of tax evasion in the correct perspective. Whenever a person either under-reports or does not report any income with the intention of reducing his tax liability, it can be said to be a case of tax evasion.

-------------------------------------------------------------------------------------------------

“Black Economy” and Its Causes

The presence of black money in the economy constitutes black economy, which is also referred to as the parallel economy. A number of definitions have been attempted to describe the nature of black economy.

-------------------------------------------------------------------------------------------------

“Black Money” for Income Tax Purpose

All payments made out of unaccounted funds, which have not borne the due tax liability, are black money transactions. Similarly, if the retailer decides to record only a part of his cash sales, he would also be generating income on which he would not pay any tax, ...

-------------------------------------------------------------------------------------------------
 
 
 
GST (India)
F.A.Q. on GST
GST Forms Download
GST Compensation Law
GST Enrollment Process
GST Law & Act.
GST Rules
GST Schedule ( I to V )
IGST Law & Act.
GST A Practical Knowledgebase
Filing GST Return
Enroll & Registration with GST
GST Office Tool to File GST Return
LIBRARY @ Tax Management
TAX & INVESTMENT GUIDE FOR "NRI"- Non-Resident Indians !
GUIDE & FAQ @ TAX
GRAPHICAL PRESENTATION @ TAX
TIPS & TRICKS @ TAX
MANAGERIAL & FINANCIAL DECISIONS @ TAX
5 GOLDEN RULES OF TAX PLANNING
FAMILY TAX PLANNING
DEDUCTIONS FROM YOUR INCOME
EXEMPTED INCOMES
HUF - FORMATION, MANAGEMENT & TAX PLANNING
COMPUTATION OF GROSS TOAL INCOME
INCOME TAX @ GLANCE
MULTIPLE KNOWLEDGEBASE ON TAX
51 TIPS ON TAX PLANNING
APPEALS UNDER INCOME TAX
ASSESSMENTS
PENALTIES UNDER IT DEPATMENTS
TAX SAVING SCHEMES
TAX READY RECKONER
TAX RATES
PROSECUTIONS UNDER INCOME TAX DEPARTMENT
TAXATION SYSTEM IN INDIA
CHARITABLE & RELIGIOUS TRUST - TAXATION
PRESCRIBED FORMS WITH with Section / Rules
 
TAX @ KNOWLEDGE BASE !

Most Popular Links :

Clubing of Income Deduction U/s 80C
Allowances Us-17(3) Exemption-Salary
Tax Amendment-2015 Taxable Income
Clubing of Income Tax Deductions
HUF Deduction HUF Investment
Gift by HUF HUF Tax Planning Tips
Tax Saving Schemes Tax Planning Tips
Refund of Tax Fringe Benefit Tax-FBT
Return Filing Assessment / Scrutiny
Notice from I.T. Dept. Incomes Types @ TDS
Exemptions-Tax Returns “Summon” U/s 131
'Black Money' @ I.Tax Big Gifts To Be Taxed
'Appeals' under I.Tax Assessment @ I.Tax
Exempted Incomes Capital Gain
Business & Professions House Property
Salaries @ I.Tax Partnership Firm
'Penalty' under I.Tax Act. Tax Ready Reckoner
Charitable Trust Useful Links @ I.Tax
 
Guide & FAQ on Tax Knowledgebase @ Taxation Income Tax @ Glance HUF - Formation, Planning & Taxation
Charitable & Religious TRUST NRI (Tax Planning,Saving,Investemnt) Tax Tutorials GST (FAQ, Law, Act. Rules, Schedule, Enrollment)
FAQs - Income Tax India    

Disclaimer:
All efforts are made to keep the content of this site correct and up-to-date. But, this site does not make any claim regarding the information provided on its pages as correct and up-to-date. The contents of this site cannot be treated or interpreted as a statement of law. In case, any loss or damage is caused to any person due to his/her treating or interpreting the contents of this site or any part thereof as correct, complete and up-to-date statement of law out of ignorance or otherwise, this site will not be liable in any manner whatsoever for such loss or damage.

The visitors may click here to visit the web site of Income Tax Department for resolving their doubts or for clarifications

Tally.ERP9 Book Online Order Tally.ERP9 Book Content