STI NEWS;"Buying /selling House? Taxman is watching & may call You!!!"plus 2 more

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STI NEWS;"Buying /selling House? Taxman is watching & may call You!!!"plus 2 more

Buying /selling House? Taxman is watching & may call You!!!

Posted: 18 Apr 2011 07:21 PM PDT


If you're buying a house, expect a call from the taxman. The income tax (I-T) department has decided to toothcomb property deals that could throw light on irregularities or tax evasion all over the country. Both individual and corporate deals are set to come under the taxman's lens. "We'll review all property deals to find out whether any black money has changed hands and detect tax evasion, and...

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New Sahaj Tax Form Probes Agriculture Income

Posted: 18 Apr 2011 10:59 AM PDT


The Income Tax Department has asked taxpayers to furnish details earned from agriculture in its newly modified I-T return form -Sahaj -for assessment year 2011-12. Known as Saral-II and originally meant for the service class, the Sahaj form has a column devoted to income from agriculture. "This information on agricultural income is for record only and not to be taxed," a senior I-T official...

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5 % VAT ON WHEAT AND PADDY IN PUNJAB

Posted: 18 Apr 2011 10:50 AM PDT


GOVERNMENT OF PUNJABDEPARTMENT OF EXCISE & TAXATION(EXCISE AND TAXATION II BRANCH) Notification The April, 2011 No. S.O. /P.A.8/2005/S.8/2010- Whereas the State Government is satisfied that circumstances exist, which render it necessary to take immediate action in Public interest; Now, therefore, in exercise of the powers conferred by sub-section (3) of section 8 of the Punjab Value...

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