Amendment for “Trusts” and “NGO” from FY 2020-21; Re-registration u/s 12AB mandatory for all Trusts & NGOs

Newsroom24x7 Network New Delhi: All the charitable trusts, section 8 companies, NGO’s etc need to register again with the Income Tax Authority within 3 months from 1st June 2020. All such existing charitable trusts/institutions to apply for re-registration of 12A (w.e.f. 1st June 2020). It has been proposed in the Budget that it will be… Read More Amendment for “Trusts” and “NGO” from FY 2020-21; Re-registration u/s 12AB mandatory for all Trusts & NGOs

India to go for separate taxation to root out black money

Newsroom24x7 Desk Under the proposed law: Willful attempt to evade tax in relation to a foreign income or an asset located outside India will be rigorous imprisonment from three years to ten years. New Delhi: India will have stringent provisions and there will be separate taxation of any undisclosed income in relation to foreign income and assets… Read More India to go for separate taxation to root out black money

Black money stashed abroad, first list of 627 and now more names

Lalit Shastri The Indian Express today has published a list of names and amount deposited in their accounts in HSBC bank in Switzerland with the heading “The List: Who’s Who & How Much.” In October 2013, the central government had disclosed to Supreme Court names of three people, including a prominent industrialist, who were holding bank… Read More Black money stashed abroad, first list of 627 and now more names