The Income-tax department has conducted searches at multiple premises of Chinese telecom company Huawei in the country as part of a tax evasion investigation, official sources said on Wednesday. The raids were launched at the company's premises in Delhi, Gurugram (Haryana) and Bengaluru in Karnataka on Tuesday. Sources said the officials looked at financial documents, account books and company records as part of a tax evasion investigation against the company, its Indian businesses and overseas transactions.
If you receive an email claiming to be from the income tax department that there's an outstanding tax demand that you need to pay immediately, don't get alarmed. Get cautious.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The income tax department on Monday launched a new portal e-filing 2.0, which will make online filing of returns and tax payment easier. The new portal -- www.incometax.gov.in -- replaces the 'http://incometaxindiaefiling.gov.in' site, and can be accessed by taxpayers in various regional languages. The income tax department also asked taxpayers to re-register their DSC (Digital Signature Certificate), update personal mobile number and email ID under 'primary contact', act on 'pending action', if any, and respond to 'outstanding demand'.
According to the latest Budget papers, the staff strength of central ministries and departments is estimated to rise by 276,796 to 3.44 million at the end of FY23, it would be up by 109,266 to 3.55 million in March 2024.
'It would be reasonable to assume that Modi 3.0 would be more focused on projects and schemes which do not require any legislative change or which have the support of its coalition partners,' asserts A K Bhattacharya.
A Delhi court on Tuesday summoned Congress leader D K Shivakumar and others in a money laundering case lodged against him in 2018 after taking cognisance of the charge sheet.
The company contented before the tribunal that the amount was paid outside India.
The Dabangg star, who has been providing assistance to those in need amid the ongoing pandemic through his charitable trust, on Monday posted a statement on his social media handles.
Unique Identification Authority of India (UIDAI) on Monday appealed people to register or update their mobile numbers in Aadhaar for easy access of various government services online.
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The Finance Ministry has asked tax evaders to pay their dues or face necessary action.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
After producing Darshan and three others before the court, the police stated that they were not making the names of the eyewitnesses public citing their safety.
This meeting has led to the deferment of the Goods and Services Tax (GST) Council meeting by a day.
If you are being over-charged, bring it to the notice of the staff and, if required, the tax authorities.
Prime Minister Narendra Modi's desire to showcase India as a destination for manufacturing is well understood.
The income tax department was committed to treat every taxpayer as honest, unless proven otherwise, and provide fair, courteous and reasonable treatment, according to the taxpayers' charter adopted on Thursday. The charter also expects taxpayers to pay taxes on time and be honest and compliant.
In a major crackdown on Chinese mobile companies, the Income Tax department is conducting searches on leading Chinese mobile companies across the country. Mobile companies including Oppo, Xiaomi and One Plus are being covered in this search, sources told ANI on Wednesday. More than two dozen premises are covered in the search which started on Tuesday. "Raids are ongoing in Delhi, Mumbai, Bengaluru, Greater Noida, Kolkata, Guwahati, Indore and some other places," sources told ANI.
Amid the heavy downpour in Bengaluru, residents of many flood-affected areas have taken to social media to pour out their woes ranging from waterlogging to complaining about "crumbling" infrastructure.
The government has slapped a notice of Rs 5 crore demand on trusts run by Ramdev in connection with alleged service tax evasion while organising their yoga camps.
FinMin does not expect tax or non-tax revenue to reach anywhere close to the targets set in the interim Budget. Sources say that the challenge before the new government will be either to accept the reduced projection and tailor the Budget accordingly or set a more ambitious target.
Pawar had told the media on the day of the raids that the tax searches were also carried out at the premises of his three sisters, one living in Kolhapur district and two in Pune district of Maharashtra.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The Commissioner of Customs had confiscated the goods claiming that the body massagers could be used as adult sex toys and such items are prohibited for import.
'We crossed Rs 1.7 trillion in three months this financial year.'
The CBDT has now laid down parameters specifying the manner in which any communication issued by any income-tax authority relating to assessment, appeals, orders, statutory or otherwise, exemptions, enquiry, investigation, verification of information, penalty, prosecution, rectification and approval to the assessee will be dealt with.
The finance minister continues to be backed by the same policy team in charting out the broad strategy as in the few earlier Budgets.
The US unit of PwC will lay off about 1,800 workers, marking its first formal job cuts since 2009 as the company seeks to restructure its technology group. This comes amid a slowdown in demand for some of its advisory business, according to a Wall Street Journal report. Half of the anticipated layoffs will target offshore positions, impacting a wide range of employees from associates to managing directors.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
The Himachal Pradesh government's Excise and Taxation Department inspected an Adani Group company, scrutinising records and checking the stock at the Adani Wilmar warehouse in Parwanoo, officials said on Thursday. The officials were apparently investigating possible GST violations by the company, a 50:50 joint venture between the Adani conglomerate and Singapore-based Wilmar. The inspection on Wednesday evening in the Congress-run state comes at a time when the group finds itself in the middle of a political row at the Centre, triggered by a scathing report by US-based Hindenburg Research.
We the people are left in the wind, waiting on the whims of an unengaged president and an oligarch with a nearly bottomless wallet, observes Sree Sreenivasan.
The operations revealed evidence of price and volume manipulation of stocks through the use of platforms like YouTube and WhatsApp.
A day after Finance Minister Nirmala Sitharaman flagged technical glitches on the income tax department's new e-filing website, IT major Infosys said it expects the system to stabilise in the course of this week. On Tuesday, Sitharaman had asked Infosys and its chairman Nandan Nilekani to fix technical glitches being encountered on the income tax department's new e-filing website, after users flooded her Twitter timeline with complaints.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
Tharoor argued that the proposed bill represents a "grave chapter in the history of the Indian republic, seeking to ratify an ordinance that in many ways is an assault on our democratic heritage and the spirit of federalism."
Tax shortfall: Finmin asks banks to deposit March TDS by month end.
Bihar became the first non-NDA state and overall second after the BJP-ruled Assam to pass GST bill.
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 common.
The government's initiative to migrate SEZ data from NSDL software to ICEGATE system for streamlined reporting of import data caused double counting of gold imports, resulting in inflated figures and the issue has now been largely rectified, government sources said. The downward revision has provided the actual picture of trade deficit (difference between imports and exports), which was earlier looking very high. The deficit for November will now be revised downwards from $37.84 billion to about $32.8 billion. Similarly, there will be a revision in overall import numbers as well.
