The Income Tax department on Tuesday raided more than 60 places across the country in connection with the alleged illegal investments and hawala transactions case involving Jharkhand's former Chief Minister Madhu Koda.
Several restrictions on tax deductions for charity are no longer appropriate today.
Verification process to be made robust after detection of frauds
The Income Tax department has begun sealing properties and issued prohibitory orders around the premises of former Jharkhand chief minister Madhu Koda and his associates in the alleged hawala transactions and illegal investments case.
Income tax office to remain open on Saturday and Sunday for those who have not yet filed their returns.
Congress president Sonia Gandhi on Wednesday accused the government of vindictiveness in the wake of an income tax notice in the National Herald case, asserting that such "political witch hunting will only help us come back".
The tax authorities challenged a Gujarat high court judgement that had dismissed their appeal holding that Karnik could not be held guilty of even deemed concealment. A Bench headed by Justice D K Jain, while posting the matter for final hearing, rejected Karnik's counsel P K Manohar's plea to allow him to file a counter affidavit.
Non-gazetted employees and promotee gazetted officers of the Income Tax department all over the country would hold a series of agitations commencing from July 25 in support of their 22-point charter of demands.
Team Anna member Arvind Kejriwal has been slapped with a fresh notice by the Income Tax Department, asking the former IRS officer to pay over Rs nine lakh in dues by this month-end.
Big evaders might be the target but the small guys end up getting punished.
The taxmen provisionally sent orders to attach their properties in Mumbai, New Delhi, Pune, Goa and also over two dozen land parcels across the state with a combined market value of around Rs 1,400 crore
Department has collected information about these defaulters from various sources and will soon initiate action against them.
It is sending letters to 35,170 PAN holders in the first phase.
Also being considered is Rs 50 lakh-1 cr taxable income bracket.
Empowered CIB to play lead role in recovering tax evaded.
Empowered CIB to play lead role in recovering tax evaded.
You need to file returns if your income is not taxable.
Aam Aadmi Party has filed a complaint against former Bharatiya Janata Party president Nitin Gadkari for his remarks on income t officials, police said on Wednesday.
Bharatiya Janata Party President Nitin Gadkari, who was asked by the Income Tax department to appear before it on Monday in connection with the probe into alleged dubious investments in Purti group of companies, has sought more time to present his case.
A questionnaire sent to Price Waterhouse was not answered.
The department had sent a notice to the company seeking details and clarifications on a host of issues besides the original agreement between Hutch and Vodafone to establish the jurisdiction of the tax authorities to determine the tax liability. This follow an SC order in January 2009 to the effect that Vodafone should present its case to the tax authorities first and submit a copy of the share purchase agreement, the deadline for which expires by the end of this month.
Bhushan's claim is based on the grounds that the heart is a plant and the expenditure has been incurred on current repairs.
The department plans to give taxpayers the facility of applying for tax refunds and tax credits through ATMs.
Proof of disgraced Satyam founder Ramalinga Raju's political influence--an issue that is being widely discussed following his January 7 confessions of fraud--was strongly in evidence as far back as 2002, when his company was at the height of its success.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The Income Tax department is likely to include eight other related firms for its investigation into the possible tax evasion by Satyam.
The searches, they said, are related to the department's probe in the biggest haul of cash and gold in Chennai post demonetisation.
I-T, FinMin approach Switzerland and France for access to full transaction activity of these entities from the period accounts were opened.
If an assessee misses the December 31 deadline, s/he can file a belated tax return by paying a late filing fee. 'This must be done within three months from the original filing date.'
Queing before Income Tax Department officials will soon become a practice of the past. The department is making an elaborate plan to equip its offices throughout the country with Aaykar Seva Kendras (ASKs) which will work as a single-window facility for taxpayers for filing applications for services and redressal of grievances including paper returns.
Besides real estate, other sectors which are under the scanner of include mining, civil construction, education, jewellery and manufacturing.
This facility, initially, will be available at select ATMs in the major centres.
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