N
NotMyRealName
Seriously man ? You need a source to believe that Indian politicians are corrupt with loads of black money???
How Income Tax Department Is Tracking Your Transactions
- Thread starter swatkats
- Start date
Seriously man ? You need a source to believe that Indian politicians are corrupt with loads of black money???
swatkats
Skilled
Seriously man. I wouldn't be surprised if NaMo took bribes and has a little account in sweden. But there has to be some proper source to actual teach people that BJP fellows are no saints.
99% of Indian politicians are corrupt, Everyone knows that.
Here's one Gem from Con-gress... http://www.deccanchronicle.com/nati...arnataka-minister-cong-womens-cell-chief.html
99% of Indian politicians are corrupt, Everyone knows that.
Here's one Gem from Con-gress... http://www.deccanchronicle.com/nati...arnataka-minister-cong-womens-cell-chief.html
Last edited:
N
NotMyRealName
You will never find proof/source for the really smart ones...
These moves amount to sheer harassment of individuals who are part of the banking system and does nothing to catch those who keep their money out of it.
Also, if folks believe that India is going to even incrementally benefit from these moves (or even the uncivilized and highly questionable demonetization exercise) just because one govt. dept. (in this case, the IT dept.) increases it's annual revenue targets, I don't think it is possible.
There are just so many things wrong with our taxation system(eg: archaic octroi & arbitrary VAT/sales tax laws) and government spending of tax revenues collected (eg: kickbacks, no/bypassed implementation checks, wasteful PDS schemes) for these rules or exercises to have any meaning in this country.
Also, if folks believe that India is going to even incrementally benefit from these moves (or even the uncivilized and highly questionable demonetization exercise) just because one govt. dept. (in this case, the IT dept.) increases it's annual revenue targets, I don't think it is possible.
There are just so many things wrong with our taxation system(eg: archaic octroi & arbitrary VAT/sales tax laws) and government spending of tax revenues collected (eg: kickbacks, no/bypassed implementation checks, wasteful PDS schemes) for these rules or exercises to have any meaning in this country.
swatkats
Skilled
60 Lakh Bank Accounts Got Deposits Of Over Rs 2 Lakh. What Taxmen Are Doing Now
With an estimated Rs 15 lakh crore in junked notes back in the banking system post demonetisation, the Income Tax department has started the process of engaging private entities to match the data with I-T return or other information of assessees. The I-T department has already found that post demonetisation more than Rs 2 lakh was deposited in over 60 lakh bank accounts and the total amount deposited in these accounts is over Rs 7.34 lakh crore.
With an estimated Rs 15 lakh crore in junked notes back in the banking system post demonetisation, the Income Tax department has started the process of engaging private entities to match the data with I-T return or other information of assessees. The I-T department has already found that post demonetisation more than Rs 2 lakh was deposited in over 60 lakh bank accounts and the total amount deposited in these accounts is over Rs 7.34 lakh crore.
swatkats
Skilled
Income Tax collection in the country stood at a record Rs 10.03 lakh crore during 2017-18, the Central Board of Direct Taxes (CBDT) today said.
Member of CBDT said that during 2017-18, a record number of 6.92 crore I-T returns were filed, which was 1.31 crore more than 5.61 crore returns filed in 2016-17. The I-T Department added 1.06 crore new return filers during 2017-18 and aims to add 1.25 crore new filers for the current year.
https://www.financialexpress.com/mo...n-rs-10-03-lakh-crore-during-2017-18/1284104/
Member of CBDT said that during 2017-18, a record number of 6.92 crore I-T returns were filed, which was 1.31 crore more than 5.61 crore returns filed in 2016-17. The I-T Department added 1.06 crore new return filers during 2017-18 and aims to add 1.25 crore new filers for the current year.
https://www.financialexpress.com/mo...n-rs-10-03-lakh-crore-during-2017-18/1284104/
^^ Why is that even surprising given that direct tax collections have been increasing every year for many years
swatkats
Skilled
Not to mention, these direct taxes have majority contributions from corporates, So anyone assuming Individuals wealth have grown exponentially is WRONG!