'Harassment' is the objective, not detention.
The seizure occurred during raids at eight premises of a group engaged in sand mining in Tamil Nadu.
The I-T dept has issued 87 notices under section 24 of the said Act
Aiming to intensify government's drive on black money, the PMO has asked the revenue department to look for ways other than bilateral tax treaties to bring back funds stashed abroad.
The ED had summoned Patel, 70, twice for questioning in the case but the Congress Rajya Sabha MP from Gujarat later cited prevailing COVID-19 guidelines that advises senior citizens to stay indoors in order to remain safe from the pandemic.
Prime Minister Narendra Modi on Tuesday slammed Chief Minister Mamata Banerjee for seeking en bloc voting by Muslims for the Trinamool Congress and said had his party made a similar appeal to Hindus, it would have been criticised and censured.
They will have to reply within 10 days to avoid any notice from the tax department or further enforcement action.
Small and medium enterprises had complained of tedious compliance burden under the Goods and Services Tax
Given its features as a retirement product (long lock-in and compulsory annuitisation), investors should have other investments they can fall back on in case they need funds
After the case was registered, the CBI carried out searches at four places in the national capital and Bengaluru.
In 2016, almost two-thirds of Indian imports that appear to be most at risk for some degree of potential revenues losses are imports from just one country, China, which was by far India's largest source of imports in that year
The taxman carried out a total of 677 search, survey and enquiry operations
ITC has introduced differentiated cigarettes like Gold Flake Indie Mint, Gold Flake Neo and Classic Rich & Smooth in the premium end. Godfrey, too, introduced flavoured variants like Four Square Clove Crush in the mid-tier segment and has seven variants of the Marlboro brand for India.
As many as 68 artworks went under the hammer on Tuesday evening and included works by the greats like Raja Ravi Varma, V S Gaitonde, F N Souza, Jogen Chowdhury, and Akbar Padamsee among others.
Among the seizures were Indian masters such as FN Souza, VS Gaitonde, SH Raza, Amrita Sher-Gil and Akbar Padamsee, sculptures from Italy and the US, Chinese artwork and masterpieces by Xu Lei and Zeng Xiaojun.
Financial secrecy takes place when there is a refusal to share this information with the legitimate authorities, in order to tax wealthy taxpayers appropriately or to enforce its criminal laws.
This is the new addition to the tax data, which had identified over 600,000 people for scrutiny over huge inconsistencies in the cash deposits
The I-T Department has provided a list of 67 big tax defaulters on its official web portal
The Income Tax Department had last month auctioned several art works that were owned by absconding diamond merchant Nirav Modi for Rs 59.37 crore.
While the leadership of the biggest Opposition party, the Congress, has not reacted, even non-Congress and (now) anti-BJP parties like the Telangana Rashtra Samithi (TRS) have voiced no view on Banerjee's appeal, reports Aditi Phadnis.
The government is looking to plug loopholes in the Indian customs law provision that allows tax exemptions for gifts up to Rs 5,000 and trade samples up to Rs 10,000 sent to India from abroad.
The Enforcement Directorate on Wednesday continued raids for the seventh day as it visited 17 locations across the country, including four shell companies in Mumbai, even as the Income Tax department attached assets worth Rs 145 crore in the alleged Rs 11,400-crore Punjab National Bank fraud.
The Enforcement Directorate on Monday detected cash deposits totalling over Rs.104 crore in an account belonging to the Bahujan Samaj Party and Rs 1.43 crore in an account belonging to party Supremo Mayawati's brother Anand in a branch of United Bank of India in New Delhi, sources in the Enforcement Directorate said.
The I-T department also attached 34 bank accounts and fixed deposits, valued at Rs 1.45 crore, of the Gitanjali group.
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.
The searches are linked to suspected movement of hawala money during the ongoing polls season and tax evasion, they said.
Launching a scathing attack on Narcotics Control Bureau (NCB) Zonal Director Sameer Wankhede, Maharashtra minister and Nationalist Congress Party leader Nawab Malik on Thursday dubbed the officer as 'bogus' and asserted that once 'proof' against him is out, he can not remain in government service for even one day.
The top boss of the I-T department said that till now, the taxman has attached 621 properties, including some bank accounts, and the total amount involved in these cases, being probed under the Benami Transactions Act, is about Rs 1,800 crore.
Participating in the debate on the budget, leaders of parties like the Congress, Bahujan Samaj Party, Aam Aadmi Party and Left launched an all-out attack on the BJP government for allegedly selling off the country's assets and PSUs to big industrialists.
Banerjee, also the TMC supremo, said in a sarcastic way that personnel of security forces such as the CRPF, BSF, CISF and the Army are present at convoys of every BJP leader visiting West Bengal.
Sitharaman also directed public sector bank heads to clear long pending vigilance cases against their officials for alleged malpractices.
Delhi Police ask for 45 documents for opening a restaurant, only 19 for a gun: Survey
Close to 9 lakh registered companies are not filing annual returns with the ministry of corporate affairs and are a potential source of money laundering, Revenue Secretary Hasmukh Adhia said on Saturday.
While the exact figures of the total number of taxpayers who will be honoured is not known, officials said these numbers would be few lakhs.
Notification, FAQs likely after FM Jaitley returns from the US
"The fourth quarter results of GDP data showed a phenomenal 7.7 percent growth rate and has established India firmly as the fastest growing global economy. This trend, according to experts, is likely to continue for the next few years," Jaitley said in a Facebook post.
If the states do not chip in with better governance procedures in the setting up of new businesses, providing electricity connections, enforcing contracts, issuing construction permits or registering property, there is little the Centre can do on its own to quickly move India up the index on ease of doing business, says A K Bhattacharya.
These individuals largely include businessmen associated with companies, including the dummy ones, in sectors ranging from real estate, financial services, technology and telecom to paints, home decoration, textiles, engineering goods, gems and jewellery. Several of these persons and their companies are said to be based in Kolkata, Gujarat, Bengaluru, Delhi and Mumbai.
'It is especially discouraging for young people in the development sector. I've noticed that many of them are actively considering other career options to escape this atmosphere.' Geetanjali Krishna reports.
"Post demonetisation, during November 9, 2016, to January 10, 2017, more than 1,100 searches and surveys were conducted and more than 5,100 notices were issued by the income tax department for verification of suspicious high-value cash deposits," Finance Minister Arun Jaitley said in a written reply in the Lok Sabha on Friday.
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