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PM received I-T refunds 5 times, Rahul 6 in last 18 yrs

Prime Minister Narendra Modi has got income tax refunds at least five times in the last 18 years, while Congress chief Rahul Gandhi has received six refunds during the same period. IMAGE: A worker......

Rs 1.48 cr cash seized from Dinakaran's partyman in TN

The income tax department on Wednesday said it has seized Rs 1.48 crore cash allegedly stashed to bribe voters in Tamil Nadu's Theni district, where an assembly bypoll is scheduled on Thursday.......

BJP can't prevent my success: Kanimozhi after I-T raid

Unfazed by the income tax department raids at her residence, Dravida Munnetra Kazhagam leader Kanimozhi on Wednesday said that the Bharatiya Janata Party cannot prevent her from winning in the Lok......

Jaitley: No vendetta, I-T raids on basis of evidence

IMAGE: CRPF jawans guard as Income Tax officials recover cash after raids at the premises of lobbyist Ashwini Sharma, in Bhopal, on Monday. Photograph: PTI Photo Dismissing the allegations of......

MP CM's aide dubs I-T raids as "political action"

Madhya Pradesh Chief Minister Kamal Nath's former Officer on Special Duty Praveen Kakkar has alleged that the Income Tax raids at his premises were politically motivated, and claimed nothing......

Tax dept may pitch for lower I-T target when next govt presents Budget

CBDT feels 30% growth in income-tax not feasible.Dilasha Seth reports.Illustration: Dominic Xavier/Rediff.com The income-tax department will likely pitch for a reduction in the I-T target for the......

I-T dept has huge land bank, yet spends Rs 1,000 cr on rent

The tax department was given the land at Mumbai’s posh location, measuring 2,786 square metre, with a minimum capacity of 100,000 sq ft, in 1992. Instead of constructing an office building,......

Soon taxman will have full insight into your finances

The income-tax department has created various functionalities under its Project Insight, which will provide the 360-degree profile of taxpayers, including new and non-filers to gauge their......

A rare case, when I-T withdrew money from start-up accounts

It’s not unusual for the tax departments to freeze bank accounts and there have been instances of the authorities recovering the outstanding from the bank, though such course of action is not......

How Goyal's tax breaks will apply to you

The point to note is that since the new rebate is up to a taxable income of Rs  5 lakh, if anyone earns even little more (say, even Rs 100 more) than this amount, he would have to pay all the......
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FinMin prepares 100-day agenda for new govt

Among other things, the agenda is likely to focus on increasing private investment, employment generation and giving relief to the farm sector... ...

http://www.rediff.com/money/report/finmin-prepares-100-day-agenda-for-new-govt/20190522.htm
5 new IT courts would be set up in Ghaziabad, Meerut, Mathura, 2 western UP cities

[India], May 21 (ANI): Five new Income Tax Courts would be set up in Ghaziabad, Meerut, Mathura and two other cities of western Uttar Pradesh for... ...

http://www.sify.com/news/5-new-it-courts-would-be-set-up-in-ghaziabad-meerut-mathura-2-western-up-cities-news-national-tfwcWEecagdaa.html
I-T Dept proposes to seek more details on foreign donations from trusts

The Income Tax Department Tuesday proposed seeking more details including foreign donations received by trusts and institutions claiming deductions. ...

https://www.moneycontrol.com/news/wire-news/i-t-dept-proposes-to-seek-more-detailsforeign-donationstrusts_12536321.html
Rented property income can't be business income

If you are merely letting out the property and enjoying the rent as an individual or as a company, in most cases, you will need to mention rental... ...

http://www.rediff.com/money/report/rented-property-income-cant-be-business-income/20190521.htm
Chanda Kochhar contests bonus clawback, ESOP termination

Until June 2018, the ICICI Bank board had given a clean chit to Kochhar with full backing and had said there was no question of favouritism,... ...

http://www.rediff.com/money/report/kochhar-contests-bonus-clawback-esop-termination/20190520.htm

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