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Capital Gains Tax

News and Press Release - Dated:- 6-5-2016 - Appropriate action against tax evasion, including evasion of tax on capital gains, is an on-going process. Whenever such cases are noticed by the Income Tax Department, appropriate action is taken under direct taxes law. Such action is not dependent upon a demand to be made to the Government. The actions under the Income-tax Act, 1961 include searches, surveys, enquiries, assessment of income, levy of tax, interest & penalty and filing of prosecuti .....

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m for taking corrective steps is an on-going process. In recent times, the Government has taken several effective measures, both by way of policy-level initiatives as well as through more effective enforcement action on the ground, to tackle tax evasion. These steps include putting in place robust legislative and administrative frameworks, systems and processes with due focus on capacity building and integration of information and its mining through increasing use of information technology. Majo .....

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