8 February 2017 - Wealth18.com

Feb82017 by wealth18.comNo Comments

[How to ] check and respond Income Tax Notice for large Cash deposit

Income Tax department has launched "Operation Clean Money / Swachh Dhan Abhiyan initiative., to investigate the large cash deposits made after demonitization. They are sending notices to more than 18 lakh people. If you have deposited large cash after demonitoization, the chances are that you will or may already have got a notice from Income Tax. You need to respond within 10 days of getting the message. If you have made large deposit, but have not received any message yet, please check your e-filing account to see if there is any notice for you. You can get notice: if your high-value transactions are not in line with your income profile. or may be because of technical error when a cash deposit was wrongly connected to your PAN. So it is important that you login to your efi...

Income Tax Rates / Tax Slab for FY 2017-2018 (Budget) AY 2018-2019

Taxation

Cheers!!! In Budget 2017, the government has made some positive changes to tax slabs. - Read the Budget announcement for Personal Taxation Income Tax Slab / Rates applicable in India for Individuals, Hindu Undivided Family (HUF), Association of Persons (AOP) and Body of Individuals (BOI) Applicable for FY 2017-2018 (AY 2018-2019) For Individuals below 60 years age (including Woman Assessees) (born on or after 01-Apr-1957) upto Rs 2.50 Lakh NIL Rs 2.50 lakh - Rs 5 Lakh 5% on amount exceeding Rs 2.50 lakh Rs 5 lakh - 10 Lakh Rs 12500 + 20% of amount exceeding Rs 5 Lakh above Rs 10 akh Rs 112500 + 30% of amount exceeding Rs 10 lakh Income tax rebate u/s 87A is applicable for those who earns upto Rs 3.5 lacs. There is also a cess of 3% on total tax (not on tota...

Genesis Colors IPO Details & Review – Opening date, Price Band, Opening Price

Stocks

Update:8-Feb - SEBI has approved Genesis Colors IPO Genesis Colors Limited is a leading platform for luxury & premium fashion brands in India. (Satya Paul, Armani, Hugo Boss , Jimmy Choo etc) Issue Details (not yet announced) IPO Open : Issue Price band: Issue Size: Market lot : Max Shares for Retail - IPO Issue Allocation Qualified institutional buyers (QIBs) - 50% per cent of the total issue size. Non-institutional investors (NIIs) - 15% per cent of the issue size. The retail quota limit in the issue = 35% Objective of the issue: The objects of the net proceeds from the issue are: 1. Purchase of shares of Genesis Luxury Fashion Private Limited (a subsidiary) from Splendor distribution limited(Rs 280 crores)and Sanjay Kapoor (Rs 37 crores) and...