Six foreign tours companies under tax scanner

The Income tax department is looking into tax evasion by about six companies providing foreign tour packages for under-reporting of income, non-deduction of the prescribed tax and their involvement in remitting money abroad through the hawala racket or unofficial fund transfer. The department sent show cause notices to these companies between June and July, ET […]

FAQ’s for Form 27C

Question 1: Who is required to file Form 27C on E-filing portal, buyer or seller? Resolution: The Seller is required to file Form 27C on E-filing portal. Question 2: How can buyer furnish the declaration to seller under section 206C(1A) for obtaining goods without collection of tax? The Buyer is required to manually fill Part-I […]

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