Ramesh alleged that through the "electoral bonds scam", the Bharatiya Janata Party has collected Rs 8,200 crore and used the route of "pre-paid, post-paid, post-raid bribes and shell companies".
The income tax department on Saturday said it has launched a campaign to send messages to taxpayers who have not disclosed high-value foreign income or assets in their ITRs for AY 2024-25. The Central Board of Direct Taxes (CBDT) has launched a Compliance-Cum-Awareness Campaign for Assessment Year (AY) 2024-25 to assist taxpayers in accurately completing Schedule Foreign Assets (Schedule FA) and reporting income from foreign sources (Schedule FSI) in their income tax returns (ITR).
With this latest notice, the Income Tax department has raised a total demand of Rs 3,567 crore from the Congress.
Income tax sleuths who reached Khan's residence on Jail Road in Rampur in Uttar Pradesh at 7 am on Wednesday completed their search Friday evening.
Noting that recent uncertainties created by global tariffs have not impacted the Indian economy severely, Anuradha Thakur, secretary, Department of Economic Affairs, said the central government is hopeful that the recent goods and services tax (GST) rationalisation will ignite the much needed animal spirits in the financial sector.
Indian-origin steel magnate Lakshmi N Mittal, until now based in Britain and a regular on the country's richest billionaires tally, has decided to quit the UK as the Labour Party-led government's feared tax shake-up for the super-rich nears, according to a UK media report on Sunday.
The Income Tax notice was recovered from the house of Baljeet Kaur at Shahabad in Kurukshetra in Haryana where Papalpreet and Amritpal had taken shelter on March 19 and 20 before fleeing from there.
Last week, the ITAT had dismissed the Congress' appeal against the imposition of penalties for discrepancies in tax returns for previous years.
In September last year, India received financial information from over 108 countries regarding foreign accounts and income in the form of interest and dividend earned outside India.
Transactions were allegedly not reported correctly in the tax returns for FY20.
The Supreme Court has sought responses from the Centre and the Ladakh administration regarding the detention of climate activist Sonam Wangchuk under the National Security Act (NSA). Wangchuk's wife has filed a plea challenging the detention, claiming it violates his fundamental rights. The court has given the Centre and Ladakh administration 10 days to respond and has scheduled the next hearing for November 24.
The passing of bills without Parliament, including the treasury benches, having any real understanding of what they contained through any rigorous process has accelerated through the Modi era, points out Aakar Patel.
Income Tax department have released different tools to help you file your ITR-3 form easily.
'Most young taxpayers prefer income tax filing to be flexible yet straightforward.'
RSS chief Mohan Bhagwat defended the organization's recognition and addressed concerns about respecting the Indian tricolour, responding to criticism from Congress leaders.
Disclosing an individual's income-tax returns is tantamount to violating the person's fundamental right to privacy as recognised by the Constitution.
By acting now, you can step into 2025 with your finances in order and without unnecessary penalties.
In October 2024, Jindal Stainless challenged a Goods and Services Tax (GST) notice in the Delhi high court. It was about corporate guarantees issued to related parties by its former group company, Jindal Stainless (Hisar), before their merger in March 2023.
Viresh Joshi, a former chief trader and fund manager of Axis Mutual Fund, has been arrested under the anti-money laundering law in a case linked to alleged cheating of investors to the tune of Rs 200 crore by 'front-running' in trade activities, the Enforcement Directorate (ED) said on Sunday.
A bench of Justices BV Nagarathna and N Kotiswar Singh, which issued notice on the plea of the Congress against the March 13 high court order, however, said the ITAT can proceed on the political party's appeal.
rediffGURU T S Khurana answers readers' personal income tax queries.
Amid the Budget preparation, the revenue department is assessing the feasibility of further adjustments to maximise benefits for salaried individuals.
The net direct tax collection so far this fiscal rose 19.41 per cent to Rs 14.70 lakh crore, reaching about 81 per cent of the full-year target, the income tax department said on Thursday. "The provisional figures of Direct Tax collections up to January 10, 2024, continue to register steady growth," the Central Board of Direct Taxes (CBDT) said in a statement. Direct Tax collection, net of refunds, stood at Rs 14.70 lakh crore which is 19.41 per cent higher than the net collection for the corresponding period of last year.
With the Income Tax department recovering over Rs 225 crore cash during a series of raids on an Odisha-based distillery group on charges of tax evasion, Prime Minister Narendra Modi on Friday assured the people that the money looted from the public will be returned.
A look at what constitutes Income on Indian soil and what is not from the perspective of the income tax department. The income tax department defines certain incomes as Accruing or Arising in India. This is the basis of calculating your income and income tax. Let's get to know a bit more. . .
A series of decisions were taken under the Public Health Department, including an approval to increase honoraria for field-level workers engaged under the Ayushman BharatPradhan Mantri Jan Arogya Yojana and Mahatma Jyotirao Phule Jan Arogya Yojana.
The tax department had launched the action on Tuesday at the BBC's Delhi and Mumbai offices along with at least two linked premises as part of an investigation into alleged tax evasion against the British broadcaster in India.
Assam Chief Minister Himanta Biswa Sarma says most of those present with singer Zubeen Garg in Singapore during his death have yet to respond to CID summons, and addresses related political accusations.
One of the most exploited provisions is Section 10(13A), which permits exemption on HRA.
A team of tax department officials is undertaking the raids against Jadhav, also the chairman of the BMC standing committee, since early morning, they said.
Talking to reporters, Pawar said the Income Tax department has sought his "clarification and explanation" on some poll affidavits furnished by him.
Scammers sometimes misuse personal information collected during tax preparation, leading to identity theft or unauthorised financial transactions.
Party treasurer Ajay Maken has claimed that "democracy will be over if the action of probe agencies goes unchecked" and said the Congress has full faith in the judiciary.
There are a number of steps taken that will leave more money in the hands of the taxpayers.
These include the reduction in tax rates under the new tax regime, increase in standard deduction, allowing tax collected at source to be adjusted against tax deducted at source from salaries, notes Harsh Roongta.
Robert Vadra, husband of Priyanka Gandhi Vadra, appeared before the Enforcement Directorate for questioning in connection with the Sanjay Bhandari money laundering case.
Arms dealer Sanjay Bhandari has opposed the Enforcement Directorate's (ED) plea in a Delhi court seeking to declare him a "fugitive " in connection with a black money case. Bhandari claims his stay in the UK is legal as the London High Court denied his extradition to India. The court's decision was also cited by an English court in April to deny the Indian government's request to extradite another accused in a rice-buying scam. Bhandari's lawyer argued that the ED's application was "vague, misplaced and without jurisdiction " and that the value involved in the case was less than the required Rs 100 crore to declare someone a "fugitive. " The Delhi court has sought the ED's rebuttal to Bhandari's argument by May 3.
The reduction in the goods and services tax (GST) rates has increased the momentum in India's economic activity both on the supply and demand sides, while robust agricultural activity - reflected in the strong onset of rabi sowing and adequate reservoir levels - has reinforced the outlook for food supply and rural incomes, the finance ministry said on Thursday.
The Trump administration has launched a premium immigration programme targeting wealthy individuals worldwide, offering permanent residency in the United States through expensive 'Gold Cards' that could generate billions in revenue for the American Treasury.
Amit Gupta, MD, Sag Infotech, answers your personal income tax queries.
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