Income Tax

Income Tax Department unearths 1000 crore hawala transaction in Delhi

Income Tax Department conducted search operation on a group based in Delhi in connection with tax evasion and money laundering. The group is engaged in various e-governance projects and financial services. It has presence across several cities in India and also in Dubai. The search and seizure action have led to unearthing of several incriminating …

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Central GST Delhi North Commissionerate unearth a racket

Central GST Delhi North Commissionerate has unearthed a racket involving supply of goods-less invoices and invoice-less goods. One person has been arrested and remanded to judicial custody for 14 days by the Chief Metropolitan Magistrate (CMM), New Delhi at Patiala House Courts. The accused was found to be operating 10 fake firms which were created …

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Businesses with +50Cr Turnover shall provide facility for accepting payment through UPI, UPI QR Code and Debit Card(RuPay)

In the Income-tax Rules, 1962, after rule 119A, the following rule shall be inserted, namely:—“119AA. Modes of payment for the purpose of section 269SU.- Every person, carrying onbusiness, if his total sales, turnover or gross receipts, as the case may be, in business exceeds fifty crore rupees during the immediately preceding previous year shall provide facility for accepting payment through …

Businesses with +50Cr Turnover shall provide facility for accepting payment through UPI, UPI QR Code and Debit Card(RuPay) Read More »