The I-T dept has issued 87 notices under section 24 of the said Act
Capital markets regulator Sebi has sent a notice to Deccan Chronicle Holding's promoters and asked them to pay Rs 4.29 crore in a matter related to misrepresentation of financial statements of the company from FY 2008-09 to 2011-12. The regulator directed T Venkattram Reddy, T Vinayak Ravi Reddy and P K Iyer to pay Rs 4.29 crore, which includes interest and recovery costs, within 15 days, Sebi said in a demand notice issued on Friday. In the event of non-payment, it will recover the amount by attaching and selling the movable and immovable properties of the Deccan Chronicle Holdings Ltd (DCHL) promoters.
Several income tax proposals, including 30 per cent tax on income from trade in cryptocurrencies will come into effect from Friday. Also, the revised norms for levy of 1 per cent TDS (tax deducted at source) on sale of immovable property exceeding Rs 50 lakh will come into effect from April 1, the beginning of the new financial year. As per the revised norms, TDS of 1 per cent shall be deducted on consideration or stamp duty value, which ever is higher, as against the earlier provision of consideration.
ED team managed to get several bank statements from Barbados, Dubai, Hong Kong etc. which prove vital overseas link and money trail relating to Nirav Modi and his aides.
The Enforcement Directorate (ED) has attached 8.86 acres of land in Ranchi allegedly owned by former Jharkhand chief minister Hemant Soren as part of a money laundering investigation against him and his associates, the federal agency said on Thursday.
The federal probe agency obtained these receipts from two Ranchi-based dealers and attached those to its charge sheet filed against the 48-year-old Jharkhand Mukti Morcha (JMM) leader and four others last month.
The Central Board of Direct Taxes is set to rationalise I-T rules.
West Bengal CM Mamata Banerjee on Tuesday expressed support to her Delhi counterpart Arvind Kejriwal, saying she was shocked to hear of the CBI raid on his office.
Dinakaran said the value of his movable and immovable assets stood at Rs 74,17,807 -- immovable assets worth Rs 57.44 lakh and movable assets worth were Rs 16.73 lakh.
In their election affidavits, Sonia Gandhi declared a 45 per cent drop in her income in 2017-18 compared to 2013-14, while Irani's income increased roughly an 80 per cent increase in her income in the same time span.
Aam Aadmi Party MLA Amanatullah Khan was questioned by the Enforcement Directorate on Thursday for more than 13 hours in connection with a money laundering case linked to alleged irregularities in the Delhi Waqf Board under his chairmanship, officials said.
Self-governed social and religious trusts cannot be subjected to 'overarching state control' as it would undermine the principle of autonomy and democratic decision-making and would reduce the fundamental right of freedom of association 'an empty husk,' the Supreme Court said on Friday.
Sebi on Tuesday sent a notice to 7 entities, including Malvinder and Shivinder Mohan Singh, asking them to pay Rs 48.15 crore within 15 days in a fund diversion case of Religare Finvest. Sebi also warned of attachment of assets and bank accounts, if they fail to make the payment. The notice came after the entities failed to pay the fine imposed on them by the Securities and Exchange Board of India (Sebi).
Bollywood starlet Rakhi Sawant who is contesting from Mumbai North West seat has declared herself an "illiterate" with total assets of Rs 14.69 crore.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
This taxation applies to all types of transfer of property.
The affidavit goes on to inform that the BJP chief does not own a car.
The Enforcement Directorate (ED) on Wednesday produced WhatsApp chat records between former Jharkhand chief minister Hemant Soren and a close associate where information related to transfer and posting of state government officials involving 'huge amount of money' is alleged to have been discussed.
The attached assets include 15 commercial and residential properties belonging to the 'family members' of Mirchi. They include a hotel called Midwest Hotel Apartment, the ED said. They are valued at Rs 203.27 crore and have been provisionally attached under the Prevention of Money Laundering Act (PMLA), the central probe agency said in a statement.
There are 5,004 IAS officers working across the country.
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On Wednesday, RBI reduced the cap on individual remittances abroad from $200,000 (about Rs 1.2 crore) to $75,000 (Rs 45 lakh) and also barred individuals from using funds under the scheme to buy immovable properties abroad.
Now, more pieces of information about your transactions and income, such as remittances received from overseas, will be uploaded in Form 26AS by the income-tax (I-T) department. This will help the taxpayer file I-T return (ITR) correctly and assist the department in detecting discrepancies, if any, in the ITR. Besides foreign remittances, these new items are interest on I-T refund, dividend from mutual funds (MFs), and purchase of MFs, among others.
Dimple Yadav, Samajwadi Party leader and its candidate in the Mainpuri Lok Sabha bypoll, has declared movable and immovable assets worth over Rs 14 crore.
The search and survey operation was started at 44 locations in Mumbai and Surat on November 6, on entry providers and beneficiaries who have been engaged in execution of civil contracts mainly in Brihanmumbai Municipal Corporation.
Those evading taxes could soon find tax officials at their doorstep, with a rather insightful account of their big purchases.
In his Budget speech, the finance minister said: "We propose to facilitate higher investment in affordable housing. Affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits."
The complaint alleges that Thakur misused his position as IG and both, he and his wife, possessed properties disproportionate to their income.
The fiscal gains from implementing the GST and demonetisation, while almost certain to occur, will probably take time to be fully realised
The total value of Naveen Patnaik's assets has swelled by Rs 4 crore from Rs 7.98 crore to Rs 12.06 crore between 2009 and 2014. This increase is because of appreciation of property value instead of acquisition of any new property.
The Enforcement Directorate on Monday conducted raids against arrested Delhi minister Satyendar Jain as part of a money-laundering probe linked to an alleged hawala dealings case being conducted against him, officials said.
The central government, in its typical sledgehammer style, has unleashed the might of its investigative agencies like the Enforcement Directorate against NCP and Shiv Sena leaders.
A quick computation puts the following value to the seizures.
Real estate major DLF has come under the scanner of central revenue officials for allegedly evading service tax to the tune of about Rs 30 crore.
The CBI on Wednesday lodged a fresh case against A Raja for allegedly amassing disproportionate assets worth Rs 27.92 crore during the period of 11 years between 1999 and 2010.
The government will soon launch a facility under which a Permanent Account Number card will be issued within 48 hours of applying.
"We will go to any extent to protect Article 35A," said Mufti.
The government can seek details from sellers such as sources of funds while buying.
Khalistani separatist Lakhbir Singh alias 'Rode', a designated terrorist under the Indian law, has died recently in Pakistan, where he had taken refuge after his uncle Jarnail Singh Bhindranwale was killed in 1984 during an army action, officials said on Tuesday.
The income-tax department has detected "unaccounted" transactions and investments worth more than Rs 100 crore after it raided two Jharkhand Congress MLAs, their alleged associates and linked coal and iron ore businesses across the state last week.
Senior Aam Aadmi Party leader and Gurgaon candidate Yogendra Yadav on Thursday declared his assets to the tune of about Rs 3 crore, which includes farm land, commercial booth and sizable amount of bank deposits and Provident Funds.
