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VVIP chopper scam: ED seeks assets details from MoD, income tax department

In an attempt to crack the suspect name codes and the alleged kickbacks paid in the VVIP choppers deal, the Enforcement Directorate has sought information from the defence ministry, Income Tax......

IT to prosecute 300 account holders in black money list

The Income Tax department is likely to initiate prosecution against close to 300 people whose names have been submitted to the Supreme Court on Wednesday in connection with the probe into alleged......

We are not hawala operators, say Mumbai's Angadias

A day after the income tax department and the National Investigation Agency seized 102 bagful of cash and jewellery, it was business as usual at the offices of Angadias at Bhuleshwar, Opera House,......

No amnesty scheme to check black money: Govt

The Income Tax Department has not recommended 'amnesty scheme' to deal with the issue of black money, the government said on Wednesday. In a written reply to the question if the Central Board of......

Kripa assets case: Police may seek help of I-T dept, ED

Mumbai police is likely to take assistance of the Income Tax department and the Enforcement Directorate for probe into the disproportionate assets case involving senior Congress leader Kripashankar......

Maharashtra, Delhi pay 53% of India's income-tax

The government earned Rs 7.42 lakh crore as direct taxes in 2015-16, a 66 per cent increase from Rs 4.45 lakh crore in 2010-11 On 29 April 2016, Prime Minister Narendra Modi announced - for the......

I-T Dept slaps Rs 29k cr tax demand notice on Cairn Energy

  The Income Tax Department has slapped on UK's Cairn Energy plc a tax demand notice of over Rs 29,000 crore (Rs 290 billion), including Rs 18,800 crore (Rs 188 billion) in back dated......

I-T dept slaps fresh tax notice on Nokia India

The IT department had in 2013 slapped a tax notice of Rs 2,000 crore on Nokia's Indian subsidiary for violating the withholding tax norms since 2006 while making royalty payments to the parent......

Blackmoney: I-T dept files 121 cases against HSBC account holders

The Income Tax department has slapped 121 cases for prosecution of those entities whose names have appeared in the HSBC Geneva bank list even as undisclosed income to the tune of Rs 4,800 crore (Rs......

Cairn India gets Rs 20,495 crore tax notice

Income Tax Department has slapped a Rs 20,495 crore (Rs 204.95 billion) tax demand on Cairn India for failing to deduct withholding tax on alleged capital gains made by its erstwhile promoter,......

I-T dept conducts surveys in offices of IPL franchises

Income Tax authorities conducted surveys at the offices of Indian Premier League team franchises Pune Warriors in Pune and Mumbai and Royal Challengers Bangalore offices in the southern city as......

Special unit to handle BCCI-IPL tax cases

The Income Tax department has created a special audit team to bring together the scattered assessment and investigation proceedings of the BCCI and the IPL spread across the country. Tax......

IPL stars may lose one-fifth of earnings as tax

The Income Tax department which is probing all financial transactions of the Indian Premier League (IPL) has advised all foreign players to obtain PAN cards, failing which they will have to pay......

Lalit Modi on underworld hit list: Police

Former Indian Premier Leaguecommissioner Lalit Modi, who is under the scanner of the Income Tax department for suspected financial irregularities in the bidding process of the Twenty20......

IT summons: BCCI officials submit IPL documents

Responding to the Income Tax department's summons, the BCCI on Friday furnished before it complete details, including share holding pattern, player auction and bidding process of all eight original......
  Web results for Indian Income Tax Department
Core sector output hits 5-month low in May and other economy news

The core sector index, which measures output of eight infrastructure industries, rose 2.8% in May, down from 8.5% in the previous month. (BS)... ...

http://www.indiainfoline.com/article/news-top-story/core-sector-output-hits-5-month-low-in-may-and-other-economy-news-116070100472_1.html
No passing off black money as current income, warns Income Tax department

"Immunity from Benami Transactions (Prohibition) Act is subject to the condition that the property will be transferred to the declarant (being the... ...

http://indiatoday.intoday.in/story/income-tax-department-warning-black-money-current-income/1/705134.html
Indian money in Swiss bank accounts falls to record low

With the Indian government's window to disclose unaccounted wealth opening this month, Swiss National Bank data on Thursday showed money held by... ...

http://smetimes.tradeindia.com/smetimes/news/indian-economy-news/2016/Jul/01/indian-money-in-swiss-bank-accounts-falls-to-record-low1633290.html
CBDT notifies rules for calc assets' fair mkt value

New Delhi, Jun 30 (PTI) The tax department today notified rules for calculating 'fair market value' of assets located in India in case of indirect... ...

http://www.ptinews.com/news/7609495_CBDT-notifies-rules-for-calc-assets--fair-mkt-value-.html
Relief on foreign tax as CBDT notifies new credit rules

In some relief for Indian companies having overseas income from double taxation, the government on Thursday notified rules allowing companies to... ...

http://smartinvestor.business-standard.com/market/Compnews-394380-Compnewsdet-Relief_on_foreign_tax_as_CBDT_notifies_new_credit_rules.htm

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