The government has cancelled the FCRA registration of nearly 1,900 NGOs for violating various provisions of the law in the last five years. There were 22,762 FCRA-registered organisations till December-end 2021.
After securing the resignation of Union Minister Shashi Tharoor, Government on Monday said the entire Indian Premier League (IPL) will be under scrutiny including its funding and vowed not to spare any 'wrong-doer', as its top boss Lalit Modi came under the scanner of Income Tax authorities.
The airline has paid the TDS but mostly after the scheduled date.
NDTV promoter group firm RRPR Holding has told VCPL, which along with two other Adani group firms has launched a hostile takeover bid for the media firm, that its stakeholding in NDTV has been provisionally attached by the I-T authorities and require their approval for the transfer. The contention has been rejected by the Adani group, which termed it as "misconceived and misleading" statements while asking RRPR Holding to convert the warrants into equity shares. In a regulatory filing, NDTV said that its founders Radhika and Prannoy Roy have informed that RRPR Holding has intimated Adani group firm Vishvapradhan Commercial Pvt Ltd (VCPL) that the attachment of the shareholding, notified in 2018, shall remain in place until the completion of reassessment proceedings.
The commission has, over a period of time, identified various parties which have not contested polls since 2005 and has 'delisted' over 200 of them.
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your personal income tax queries.
So that salaries can be paid and grounded planes reinstated.
Sebi's action on Sahara is showing results, but problems remain.
Former Bharatiya Janata Party president Nitin Gadkari was on Thursday questioned for over four hours by income tax authorities in connection with the probe into alleged dubious investments in Purti Group of companies. Gadkari, who was earlier slated to appear on Friday, was quizzed by Geetha Ravichandran, director of I-T (Investigations) at the I-T office in central Nagpur's Sadar area, sources said.
Find out if you are an 'assessee in default' and how it affects you.
Income Tax authorities conducted surveys at the offices of Indian Premier League team franchises Pune Warriors in Pune and Mumbai and Royal Challengers Bangalore offices in the southern city as part of their probe into alleged tax evasion.
This follows a series of tax notices to broadcasters to pay TDS on the 15% agency commission reflected in their invoices
The income tax authorities on Thursday conducted raids at seven places in Mumbai, a senior official said.
The company, which is one of the strategic partners for WEF annual meeting at Davos, hosted one of the first company receptions for this year's meeting on January 22.
Beleaguered Kingfisher Airlines on Monday virtually blamed the Income Tax authorities for the large-scale flight disruptions, saying freezing of its bank accounts by them had "severely affected" payment schedules that had led to the curtailment in its services.
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.
Tamil Nadu Chief Minister M Karunanidhi's daughter Kanimozhi was on Thursday questioned by Income Tax authorities for nearly 90 minutes about the Rs 200 crore transaction from Shahid Balwa-owned DB Realty to Kalaignar TV, in which she holds a minority stake. The 43-year-old Member of Parliament appeared after summons were issued by the department, as a Delhi court probing the 2G spectrum allocation exempted her from personal experience.
In nation-wide raids on Wednesday, Income Tax sleuths swooped down on offices of Indian Premier League franchisees Kolkata Knight Riders, Chennai Super Kings, Deccan Chargers and Kings XI, and companies handling broadcast rights of the cash-rich cricket League.
A sum of Rs two crore was on Wednesday seized from the residence and other premises of a Dravida Munnetra Kazhagam candidate and his son at Karur, a senior electoral officer said.
Realty major DLF has said the Income Tax Authorities have slapped additional tax notices for over Rs 1,700 crore (Rs 17 billion) pertaining to 2008-09 assessment year after being disallowed its profits in SEZ projects.
77 bank accounts of suspended Madhya Pradesh IAS couple Arvind and Tinu Joshi have been frozen and their properties attached by the Income Tax authorities which claimed that cash and investments of over Rs 360 crore have been detected.
Under scanner from multiple government agencies, the Cricket Board has been served with fresh summons by the Income Tax authorities seeking details about the conduct of Indian Premier League, including bids for franchisees and payments made by the cash rich T20 League.
The Explanatory Memorandum to the Budget said the identification number would be mentioned in each correspondence sent or received by the department to enable tracking of documents and minimise taxpayers grievances.
The Income Tax authorities on Saturday took into possession some files relating to allotment of mining leases since 2004 when Madhu Koda, who is accused of hawala transactions, was the Jharkhand mines minister.
Hassan Ali Khan, the Pune-based real estate consultant and stud farm owner, who is alleged to have stashed away over $8 billion in foreign banks, on Friday appeared before Income Tax authorities, apparently in connection with notices issued to him over huge tax evasions.
A Mumbai court has issued a letter of request to a Swiss court to allow income tax authorities to probe accounts of stud-farm owner Hasan Ali, who is alleged to have deposited billions of dollars there.
The Bombay high court has admitted an appeal filed by the Income Tax authorities, challenging relief granted to Bollywood star Aishwarya Rai Bachchan by the Income Tax Appellate Tribunal.
Even as IPL franchise owners continue to face the heat from income tax authorities amid allegations of financial irregularities, netizens are making quick bucks after buying their favourite teams in the virtual world.
All categories of taxpayers can now file their income returns on October 29 and 30.
It's that time of the year when the taxman is remembered the most. With just two days left to file tax returns, taxpayers have now awoken to the reality that the due date is at hand.
While saying money was due from Suzuki, the HC told the tax department to determine an appropriate arm's-length pricing mechanism in this case.
A tax assessment panel found violations such as failure to get their accounts signed by auditors, providing loans to partners without guarantee and interest and hiding income from coaching business, following which it decided to impose a penalty on ICAI, a government official said.
The Supreme Court has said that Cyrus Mistry's removal as executive chairman of Tata group was justified as a "a person who tries to set his own house on fire for not getting what he perceives as legitimately due to him, does not deserve to continue as part of any decision-making body".
Booming demand for chartered accountants services fuelled by a rapidly growing economy has meant that Shetty's experience is not an isolated one.
On Wednesday, in a significant ruling that may result in $2 billion (Rs 10,000 crore) flowing into government coffers, the Bombay high court had dismissed a writ petition filed by telecom major Vodafone International Holdings BV challenging the Income Tax (I-T) Department's jurisdiction to assess whether the over $11 billion Hutchison-Vodafone transaction was liable for capital gains tax.
The country's largest realty player, DLF, on Thursday said it might have to pay additional tax of up to Rs 400 crore (Rs 4 billion) following a special audit of its income for the fiscal 2005-06, by the income-tax authorities.
The income tax authorities have put banks and companies disclosing losses in their foreign exchange derivative structures under the scanner. Banks and companies have been called to explain the extent of losses and structures initiated in both Indian and overseas markets through their branches and subsidiaries. The income tax department will then ascertain whether banks and companies entered into transactions to hedge their portfolio or for purely speculative purposes.
With tax payers no longer required to append Form 16 with their returns, the Income Tax department has allowed employers to provide digitally signed statements of tax deducted at source to their employees.
Around Rs 16 crore (Rs 160 million) of concealed income has been found from searches on the seven premises of diamond merchant and film producer Bharat Shah in Mumbai, Income Tax authorities said on Thursday. The searches started on March 13 by a team of about 50 officers. Offices owned by Shah in Mehta Bhavan at Opera house and his apartment in Swapna Lok building in Napean sea road were among the premises that were searched.
The Income Tax department has suggested an amendment for taxation of bad debt to the Central Board of Direct Taxes
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