The Income Tax (I-T) department has said Tharoor did not benefit from the Kochi IPL deal. Meanwhile, the finance ministry has said that the I-T department is probing IPL Commissioner Lalit Modi's offshore money and trying to find out if stakeholders are fronts for Modi.
As many as 500,000 people out of these 18 lakh people who have been sent SMS and e-mail are not registered in the e-filing portal
Income Tax (I-T) Department has issued a fresh notice to realty major DLF even as it's appeal against an additional tax liability imposed on it by the I-T Department is being heard.
For some assessees, the range may not have changed.
An assessing officer can initiate proceedings for prosecution from three months to two years, along with a fine.
While the entry of 62-year-old Noel Tata, half brother of Ratan Tata, into Tata Trusts is being seen as a significant departure from the past within the salt-to-software conglomerate, Jehangir, a long-standing philanthropist is expected to add heft to Tata Trusts.
Captain Pradeep Shoury Arya is an Income-Tax officer whose mission against terrorists in J&K won him the Shaurya Chakra.
Last week, Gandhi claimed that he had evidence of "personal corruption" of the prime minister but he was being prevented from speaking in the Lok Sabha because it would cause an earthquake.
Cairn faces a potential tax demand on an alleged Rs 24,500 crore of capital gains it made when in 2006-07 it transfered all its India assets to a new company, Cairn India.
Are we creeping back to controls on corporate decision making? Three moves over the past eight months reinforce this notion, says Kanika Datta.
The searches are linked to suspected movement of hawala money during the ongoing polls season and tax evasion, they said.
The Central Board of Direct Taxes, the apex policy making body of the I-T department, has been undertaking a host of steps to bolster the litigation management wing of the department which has come under criticism not only from courts but also successive Finance Ministers and in the audit reports of the Comptroller and Auditor General.
The one-page form will mandatorily seek the taxpayers name.
As part of the scrutiny, I-T department will initially issue 700,000 letters to those who have indulged in such transactions
The raids were carried out across 23 locations in the state and involved around 200 sleuths, they said.
Under 'Operation Clean Money', the I-T department had sent SMS and e-mails to 18 lakh people
The gold, weighing over 30 kg, was seized from the "diplomatic baggage" that had landed by air cargo at the Thiruvananthapuram international airport recently from the Gulf.
This is because no prosecution complaint has been filed in any of these cases under the Black Money Act.
The forms might soon come "pre-filled" and taxpayers won't have to fill details such as income, income sources, and personal details
Tax authorities want to reduce harassment of tax payers by eliminating interface between assessees and taxmen
While the exact figures of the total number of taxpayers who will be honoured is not known, officials said these numbers would be few lakhs.
I-T department is investigating 20 listed companies suspected to have falsely claimed long-term capital gains tax exemption
This is the first big move in the investigation of the British Virgin Islands list where the I-T department has found a significant amount of tax evasion.
Apart from Modi, Jaggi Vasudev to address 2-day tax officers' conference
The sleuths of the department seized over Rs 4 crore in new currency, mostly in denomination of Rs 2000, some notes of Rs 100, demonetized notes of Rs 500 and a few gold biscuits
The CBDT asks ministry of corporate affairs not to oppose its application to restore the companies struck off by the Registrar of Companies, as it would prevent the board from launching tax recovery proceedings against them.
This, said Sitharaman, would remove the possibility of unauthorised communication "and consequent harassment", which was a cause of concern for bankers.
The idea is to cut litigation, lower the cost of collection and prioritise bigger defaulters.
Violations of the act, made operational from November 1 last year, attract a heavy penalty and rigorous jail term up to seven years.
During the searches at about 66 places, I-T officials said they've seized cash and jewellery worth over Rs 15cr.
About Rs 8.33 crore cash has been seized from Delhi, Rs 2.5 from Bengaluru and Rs 60 lakh from Mysuru till now, a senior official said.
Condemning the raids, the TDP said it was "pure political vendetta" as Ramesh had been vociferously fighting for the state's causes in Parliament.
CBDT has sought explanation from B R Balakrishnan, former director-general of I-T (investigation wing) and former principal chief commissioner of I-T for Karnataka and Goa, who had ordered attachment of CCD's shares when he was in charge of the Bengaluru region. He retired last month.
The outstanding tax demand by the income tax department on the Board of Control for Cricket in India may go up to over Rs 860 crore, according to an RTI reply from the department.
Section 276CC provides for prosecution and makes tax evasion punishable with rigorous imprisonment of three months to seven years along with a monetary penalty depending on the amount dodged.
The I-T department also attached 34 bank accounts and fixed deposits, valued at Rs 1.45 crore, of the Gitanjali group.
If not, an assessee might be charged interest for not paying TDS on time.
Details of identity and residence will not be required for exchange of notes between April 1 and June 30.
Mayawati recently appointed her brother Kumar as national vice president of the Bahujan Samaj Party.
The former Karnataka minister said the ED has asked him to appear before it in Delhi on Friday by 1 pm and he was considering all legal options.
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