Dept to focus on real estate, infra, mining and manufacturing to detect evasion.
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The minister was speaking at a review meeting of Principal Chief Commissioners, Principal Directors General, Chief Commissioners of I-T in New Delhi on Thursday in order to assess the revenue collection target for 2014-15 fiscal.
An interim report on the action has also been sent by the field investigation wing of the income tax department to the Central Board of Direct Taxes in Delhi, the administrative body for the department.
The I-T department has been probing 240 HSBC cases where it is suspected that Indians have stashed their illicit funds abroad.
The Income Tax department on Sunday published names of 31 tax evaders who owe over Rs 1,500 crore (Rs 15 billion) tax to the government.
Undisclosed foreign assets and funds worth Rs 350 crore detected; these are separate entities from those featured in Panama Leaks and Paradise Papers
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.
I-T dept launches Tatkal system for those who desire to help the victims of the earthquake in Nepal.
Incomes such as dividend, interest on tax-free bonds, eligible gifts, etc should also be reported even though they are tax exempt, suggests Sanjay Kumar Singh.
Amid protests from vegetable merchants over tax raids, the I-T department has unearthed unaccounted money worth over Rs 7 crore (Rs 70 million) from Punjab-based wholesale vegetable merchants, an official said.
The tax department has deployed about 40 large and small machines to count currency notes and brought in more department and bank staffers to finish the counting process, which began on December 6 following raids against Boudh Distillery Pvt Ltd and others, they said.
Since high technology fails to live up to the promise of speedy refunds, you must resort to the good, old letter-writing art.
The government has already sanctioned Rs 4,200 crore for upgradation of information technology infrastructure of Central Board of Direct Taxes (CBDT) for processing returns, refunds, faceless scrutiny and verification.
The former minister said he was under watch and his every step was closely monitored.
I-T officials say many lawyers, CAs, consultants, designers have not filed their TDS
The court had on July 21 issued summons to the firm, Maran and Natrajhen and directed them to appear today after taking cognizance of two I-T complaints filed against them.
Most of the individuals hail from Mumbai, Kolkata, Ahmedabad, Surat, and Delhi
Kejriwal's supporters have bombarded Income Tax offices with cheques and demand drafts, offering to pay his tax dues.
The department notified the new set of ITR forms early this week
The allegation against Khan is that he had applied to purchase the agricultural land for farming but constructed a farmhouse for personal use instead.
Tightening its noose on those who do not pay taxes, the Income Tax Department has started sending letters to around 12 lakh assessees who are high spenders but do not file returns, a top finance ministry official said.
After sending notices to 1.21 million Permanent Account Number (PAN) cardholders who had not filed their income tax (I-T) returns, the I-T department has now identified another 2.17 million potential non-filers. It had already sent letters to 50,000 potential non-filers in the first batch.
The apex court has upheld the treatment of its business process outsourcing hub, Morgan Stanley Advantage Services, as a service permanent establishment.
With this batch, the department has now issued letters in 210,000 high priority cases.
The government can seek details from sellers such as sources of funds while buying.
CBDT stated the searches were on a group based at Chennai and Tiruchirappalli, strictly in line with the Income Tax Act
The searches are linked to suspected movement of hawala money during the ongoing polls season and tax evasion.
While addressing a rally at Alipurduar, Banerjee accused the Election Commission of removing the deputy inspector general of police of Murshidabad at the behest of the BJP.
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.
Directors that are shareholders will also face more problems.
Taxpayers will have to disclose all bank accounts held by them in India.
The tax department has released the software for preparing the Income Tax Return forms -- ITR 1-Sahaj, ITR 2, 2A and 4S-Sugam
The Income Tax department has trained its scanner on the burgeoning 'e-commerce' business in the country.
The move follows poor results in detecting undisclosed foreign assets and delay in concluding pending matters under the Black Money Act, which came into effect in 2015. According to the official data, only 52 cases have been identified so far. Of these, nine are from Mumbai alone.
The I-T Department has served notices of attachment of assets to Lalu's daughter Misa Bharti and her husband Shailesh Kumar, his wife and former Bihar Chief Minister Rabri Devi, son and Bihar Deputy Chief Minister Tejashwi Yadav and daughters Chanda and Ragini Yadav.
As part of efforts to boost revenue collection, CBDT has asked the Income Tax Department to monitor cases of over five lakh taxpayers who have not filed their latest tax returns.
Go cashless. Go clean, say I=T to people.
"Defaulters are advised to pay tax arrears immediately," said the notice.
I-T department's direct taxes target for the current financial year is Rs 6.36 lakh crore (Rs 6.36 trillion.
It said the sleuths have recovered Rs 14.6 crore of "unaccounted" cash and seized diaries and computer files of suspect payments made between Madhya Pradesh and Delhi.
