Tax department reopening old tax assessments based on algorithm

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bohemian

Tax department reopening old tax assessments based on algorithm

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Read more https://economictimes.indiatimes.com/news/econo...

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Deal Cadet Deal Cadet
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paisa chahiye fakir ko by hook or by crook …. 🤘

Deal Subedar Deal Subedar
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yes TIS is collating all the info. Matter of time and 2 consultants to unravel things.

But my strong feeling the income bars have to be changed from 2.5l to 5l before they do all this. Imagine plight of senior citizens orhers who live only on interest income.

but our bua (nsr) is just another sheep in the herd.

Deal Lieutenant Deal Lieutenant
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playdime wrote:

yes TIS is collating all the info. Matter of time and 2 consultants to unravel things.

But my strong feeling the income bars have to be changed from 2.5l to 5l before they do all this. Imagine plight of senior citizens orhers who live only on interest income.

but our bua (nss) is just another sheep inbthe herd.

But my strong feeling the income bars have to be changed from 2.5l to
5l before they do all this. Imagine plight of senior citizens orhers
who live only on interest income.

fully agree paji par kabhi nahi karenge dost.inko lagta ha 2-2.5l se pura ghar chal sakta ha including heathcare. aur khud yeh log 15-20 per month telephone expenses lete ha


Deal Subedar Deal Subedar
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kukdookoo wrote:

But my strong feeling the income bars have to be changed from 2.5l to
5l before they do all this. Imagine plight of senior citizens orhers
who live only on interest income.

fully agree paji par kabhi nahi karenge dost.inko lagta ha 2-2.5l se pura ghar chal sakta ha including heathcare. aur khud yeh log 15-20 per month telephone expenses lete ha


Then make creamy layer income to 2.5L, if they feel so. How come two different barometric measure for income.

Analyst Analyst
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kukdookoo wrote:

But my strong feeling the income bars have to be changed from 2.5l to
5l before they do all this. Imagine plight of senior citizens orhers
who live only on interest income.

fully agree paji par kabhi nahi karenge dost.inko lagta ha 2-2.5l se pura ghar chal sakta ha including heathcare. aur khud yeh log 15-20 per month telephone expenses lete ha


… and why they charge GST on Mediclaim Policies.

Govt. is not able to provide good healthcare services… we are paying out of our pockets and still need to pay GST on the same. That’s not good!

ps. – Thanks for the rebate on Mediclaim Premiums smile

Deal Lieutenant Deal Lieutenant
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xuseronline wrote:

… and why they charge GST on Mediclaim Policies.

Govt. is not able to provide good healthcare services… we are paying out of our pockets and still need to pay GST on the same. That’s not good!

paji gst is there on some important health related medicines and procedures also sad

Deal Lieutenant Deal Lieutenant
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@bohemian paji in short article means that they can open 11 years old cases also?

Deal Subedar Deal Subedar
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since GST topic is on, now they want to  consolidate GST slabs by removing 1 and 5. So we will be left with 12, 18 & 28. 

reason:- compensate the loss by state govts. 

we should have strong opponents otherwise it will be like this.

Deal Subedar Deal Subedar
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kukdookoo wrote:

@bohemian paji in short article means that they can open 11 years old cases also?

no retrospective 7 years only.

Deal Lieutenant Deal Lieutenant
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kukdookoo wrote:

@bohemian paji in short article means that they can open 11 years old cases also?

yes

Deal Subedar Deal Subedar
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bohemian wrote:

yes

i read retrospective 7years. They cannot ask for more than 5years. Recent changes to this? I dont remember reading any

Deal Lieutenant Deal Lieutenant
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playdime wrote:

i read retrospective 7years. They cannot ask for more than 5years. Recent changes to this? I dont remember reading any

22g as per link it is 11 years

Deal Lieutenant Deal Lieutenant
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bohemian wrote:

yes

they should open just 1 year old cases of politicians and check them honestly

Deal Lieutenant Deal Lieutenant
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playdime wrote:

i read retrospective 7years. They cannot ask for more than 5years. Recent changes to this? I dont remember reading any

They can  till 31st march 2022. From April 2022 new amendment will be in force…it will be 3 years from 6 years. During demonetisation it was made 10 years 

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Deal Subedar Deal Subedar
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kukdookoo wrote:

22g as per link it is 11 years

i reread its 4 years below 50L and 11years above 50L. not retrospective means start from AY 22-23

Chennai Super Kings Chennai Super Kings
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kukdookoo wrote:

they should open just 1 year old cases of politicians and check them honestly

They’ll be added as exceptions to the algorithm 😛

Deal Subedar Deal Subedar
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kukdookoo wrote:

they should open just 1 year old cases of politicians and check them honestly

Still they cannot. All the money in lands and business. Not like aam aadmi where he puts in stocks, bank fds, small saving schemes.

woh to computer se mahaan hain. 

Ps:-  not boasting.. 

by the way there was a time i used to sit next to developers of indian income tax site. 😀.

Deal Lieutenant Deal Lieutenant
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playdime wrote:

Still they cannot. All the money in lands and business. Not like aam aadmi where he puts in stocks, bank fds, small saving schemes.

woh to computer se mahaan hain. 

Ps:-  not boasting.. 

by the way there was a time i used to sit next to developers of indian income tax site. 😀.

All the money in lands and business
this is not traceable?

by the way there was a time i used to sit next to developers of indian income tax site. 😀

koi tips do paji








Critic Critic
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playdime wrote:

Still they cannot. All the money in lands and business. Not like aam aadmi where he puts in stocks, bank fds, small saving schemes.

woh to computer se mahaan hain. 

Ps:-  not boasting.. 

by the way there was a time i used to sit next to developers of indian income tax site. 😀.

As long as money is being spent electronically it will leave a trail. If someone is getting black money in cash & converting it to land/business & never selling/converting it back to cash even then it is not guaranteed that the black money that came to the person in cash also originated at source in cash form & not converted to cash from electronic form anywhere in the process. A good algorithm can detect it but whether such algorithm is made depends on officials/developers.

Deal Cadet Deal Cadet
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Suppose, i am about to purchase a product.

Total cost to manufacture it = 100 (say)

Margin added by company = 25 (25%)

Average GST rate is 18%, so total MRP of the product is Rs. 147.5


Assuming that i am in a 30% slab, i need to earn Around Rs. 215 to purchase that product.

I am not against the government. I am against the tax policy and the people behind tax evasions. They avoid taxes and burden will be transferred to the tax payer with higher rates.


Even though i am paying higher taxes, i am not receiving any social benefit when in need.

Ambulance didn’t reach in time and i lost my loved ones due to pathetic roads laid by corrupted officials and contractors.

Tax is like a subscription paid to the government. There are corrupted people everywhere on the planet but at least outside india, people receive social benefits for the taxes they have paid.

Sometimes, i admire THANOS and EREN YEAGER or i dream to get nominated for the MARS MISSION and get the **** out of this planet.

Deal Subedar Deal Subedar
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kukdookoo wrote:

koi tips do paji

have you not heard of news of employees of that company when they tried to act smart 3years back with income tax filings? 😄

“khud ko nahin pata, aap ko kaise de saktha hu..”

Deal Subedar Deal Subedar
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ConfirmPassword wrote:

Suppose, i am about to purchase a product.

Total cost to manufacture it = 100 (say)

Margin added by company = 25 (25%)

Average GST rate is 18%, so total MRP of the product is Rs. 147.5


Assuming that i am in a 30% slab, i need to earn Around Rs. 215 to purchase that product.

I am not against the government. I am against the tax policy and the people behind tax evasions. They avoid taxes and burden will be transferred to the tax payer with higher rates.


Even though i am paying higher taxes, i am not receiving any social benefit when in need.

Ambulance didn’t reach in time and i lost my loved ones due to pathetic roads laid by corrupted officials and contractors.

Tax is like a subscription paid to the government. There are corrupted people everywhere on the planet but at least outside india, people receive social benefits for the taxes they have paid.

Sometimes, i admire THANOS and EREN YEAGER or i dream to get nominated for the MARS MISSION and get the **** out of this planet.

you have an option. Leave every gadget and knowledge behind buy form land in remote villages and do forming. There might be some exploitation but will be happy if you can.

Mars to door ki baat hain..

Deal Subedar Deal Subedar
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guest_999 wrote:

As long as money is being spent electronically it will leave a trail. If someone is getting black money in cash & converting it to land/business & never selling/converting it back to cash even then it is not guaranteed that the black money that came to the person in cash also originated at source in cash form & not converted to cash from electronic form anywhere in the process. A good algorithm can detect it but whether such algorithm is made depends on officials/developers.

its time for you to visit villages and understand how cash comes out from banks, bisiness and rojgar yojanas and contractors.

its a new world.

then you will stop talking about computers and electronics etc.

aap ne suno hi hoga,  > Human brain is powerful than machines<

Deal Cadet Deal Cadet
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playdime wrote:

you have an option. Leave every gadget and knowledge behind buy form land in remote villages and do forming. There might be some exploitation but will be happy if you can.

Mars to door ki baat hain..

I want to be away from humans and human nature. I’m ok to be with aliens.

Deal Subedar Deal Subedar
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ConfirmPassword wrote:

I want to be away from humans and human nature. I’m ok to be with aliens.

you have right to chose your option  need not listen to advises always 😀👍

Cool Cool
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kukdookoo wrote:

they should open just 1 year old cases of politicians and check them honestly

22g wo bas elections ke time pe hota hai. Opposition ko dhamkane ke liye

Cool Cool
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ConfirmPassword wrote:

I want to be away from humans and human nature. I’m ok to be with aliens.

Humko bhi le chalo us gola me
pliz

Deal Subedar Deal Subedar
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IT Department always sends notices for 3-4 years old assessments. 

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