The contentious issue that Tata Trusts is challenging is the date of the order, which makes it liable to pay a much higher amount of tax under the new tax provision introduced in June 2016 concerning charitable trusts.
"Is there a rule of law or (a rule of) raids in Maharashtra? This is the question which comes to one's mind considering the record-break raids being conducted through Central investigating agencies," Raut wrote in the weekly column 'Rokhthok' in the Sena mouthpiece 'Saamana' of which he is the executive editor.
'We have not hijacked the party, the NCP and the Congress have hijacked it'
The income tax department will share PAN and bank account details of any entity with 10 investigative and intelligence agencies, including the CBI and NIA, under the integrated counter-terrorism platform NATGRID, according to an official order.
The Congress alleged that the money-laundering law has been weaponised to target and humiliate people, and urged the Supreme Court to decide soon on the matter concerning the National Herald-Associated Journals Limited case.
"Do you remember that 'kar sevaks' were shot in Ayodhya and bodies were thrown into the Saryu," he said referring to a 1990 incident during the SP regime while addressing a rally at Government Inter College in Faizabad.
The inaugural Formula E race in Hyderabad is scheduled for February 11 next year, joining the likes of New York, London and Rome on the calendar.
The Income Tax department on Friday conducted separate 'survey operations' at the premises of online news portals Newsclick and Newslaundry in New Delhi, officials said.
NCP president Sharad Pawar on Friday reiterated that the Income Tax Department's raids on Maharashtra deputy chief minister Ajit Pawar's relatives and aides came after his comparison of the Lakhimpur Kheri violence in Uttar Pradesh to the Jallianwala Bagh massacre during the British rule.
Geelani, who was a member of banned Jamaat-e-Islami and chairman of hardline Hurriyat Conference, had been suffering from various ailments for nearly last two decades.
While agency sources informed that Gandhi recorded his statement and checked its transcript minutely, Congress leaders said the investigators took multiple breaks during his questioning
There is no proposal to modify income tax returns forms, finance ministry sources clarified when asked to comment on news reports that the purported statement of financial transactions expansion would result in the filing of high-value financial transactions in ITR by the taxpayers themselves.
In an editorial in its mouthpiece 'Saamana', the erstwhile ally of the Bharatiya Janata Party questioned if financial transactions of film personalities who openly support the government at the Centre were clean and transparent.
You can avail of tax deduction on expenses incurred on preventive health check-ups. This provision is beneficial to younger people who don't exhaust their Section 80D limit with their health insurance premium.
Days after the government went public with its intent to examine a Sebi order in the NSE matter, its outgoing chairman Ajay Tyagi on Wednesday made it clear that the markets regulator did not "dilute" any of the quasi-judicial verdicts. The comments assume significance as they come after Finance Minister Nirmala Sitharaman, as per reports, recently said the government is examining if Sebi has taken "necessary punitive" action in the case. In a media interview, the FM had said the government was analysing if there had been "enough application of mind in dealing with this" and if after applying its mind, Sebi took adequate corrective steps.
Undisclosed foreign assets and funds worth Rs 350 crore detected; these are separate entities from those featured in Panama Leaks and Paradise Papers
Taxmen also claimed that the signature of Siddhartha on the letter being circulated on the social media under his name "does not match" with the record available with the department.
The raids in as many as 38 premises in different parts of the state led to concealment of income which is likely to exceed Rs. 300 crore, the Income Tax department said in a release.
The income tax department on Friday warned against indulging in cash transaction of Rs 2 lakh or more, saying that the receiver of the amount will have to cough up an equal amount as penalty.
As per the latest data, the number of taxpayers getting refunds is up by 62 per cent from 1.22 crore refunds in the corresponding period of the last fiscal.
"Had corona (COVID-19) not been there, the prime minister would have dedicated NATGRID to the country. I am hopeful that the prime minister will dedicate NATGRID to the country in some time," Union home minister Amit Shah said during the 51st Foundation Day event of the Bureau of Police Research and Development (BPRD) here on September 4.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
The income tax department estimates total collection to be between Rs 10.5 trillion and Rs 10.7 trillion against the revised target of Rs 11.7 trillion.
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.
Tax concealment in case of Walmart-owned Flipkart's unit is about Rs 650 crore while the remaining estimation is related to Swiggy.
Under fire for technical glitches plaguing the new income tax return filing portal, Infosys CEO Salil Parekh on Wednesday said the new portal developed by his company is seeing "steady progress" and already 1.9 crore returns have been filed. He further said that taxpayers' concerns are being "progressively addressed". "We are seeing a steady progress on the income tax system. As of yesterday we had over 1.9 crore returns that have been filed using the new system.
Following the money and freezing anything unaccounted is the only way to set an example for others, suggests Debashis Basu.
The actor had earlier taken to Twitter on Sunday to share his "platinum certificate" from the ministry for filing his tax returns for the year 2019-2020 to refute rumours.
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.
Raut said during their meeting, Rahul told him the system of creating and building leaders has stopped in the Congress.
At present, the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, covers only resident Indians. The Finance Bill has expanded the definition of assessees to include NRIs.
Banks, cooperative banks and post offices will have to report to the tax department all cash deposits between April 1 to November 9, 2016.
Telecom operator Bharti Airtel's CEO has warned customers about rising cases of cyber-frauds, citing a recent instance of a fraudster who posed as company executive and under the guise of updating KYC form, tricked a user into revealing bank details to transfer large amount from the bank account. In an email outreach to subscribers, Gopal Vittal, CEO of Airtel urged users to be vigilant against such cases of cyber fraud that are becoming "alarmingly frequent". Vittal spoke of a recent case where a cyber-fraudster posing as company executive called up an Airtel customer on the pretext of updating his Know Your Customer (KYC) form, tricked him into revealing his bank details and transferred a large sum of money from his bank account.
Filing your tax returns may seem like a lot of paperwork, but it is swift and smooth once you start with a clear plan, says Anil Rego.
The Enforcement Directorate on Thursday questioned Congress chief Sonia Gandhi in a money laundering case related to the National Herald newspaper and summoned her for a second round of questioning in the case on July 25.
The income tax department has a steep collection target of Rs 9.8 lakh crore during 2017-18, rising 15.7 per cent from a year ago.
The tax department will analyse mismatches in income declarations and spending patterns to trace tax evasions and black money.
The two media groups have been critical of the Covid-19 management in the country and have done numerous news stories on the subject during the second wave of the pandemic that hit the country between April and May.
I-T officials are also looking into the finances of candidates who contested state elections in Uttar Pradesh, Punjab, Gujarat, and Karnataka, reports Shrimi Choudhary.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
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