The big-ticket transactions that can bring you under the radar of the Income Tax Department
Securities and Exchange Board of India (SEBI) signed a Memorandum of Understanding (MoU) with the Central Board of Direct Taxes (CBDT), Government of India, today, for data exchange between the two organizations. The MoU will facilitate the sharing of data and information between CBDT and SEBI on an automatic and regular basis. The MoU will ensure that both CBDT and SEBI have a seamless linkage for data exchange. In addition to regular exchange of data, CBDT and SEBI will also exchange with each other, on request and suo moto basis, any information available in their respective databases, to carry out the scrutiny, inspection, investigation, and prosecution
The enforcement of social distancing, lockdowns and other measures in response to the COVID‑19 pandemic has led consumers to ramp up online shopping, social media use, internet telephony and teleconferencing, and streaming of videos and films. The global nature of COVID‑19 and its impact on e‑commerce may encourage strengthened international cooperation and the further development of policies for online purchases and supply. The pandemic has made it clear that e‑commerce can be an important tool/solution for consumers. E‑commerce can also support small businesses and, by making economies more competitive, be an economic driver for both domestic growth and international trade. Read More
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