The Delhi high court on Monday refused to quash an Enforcement Directorate money laundering case against media baron Raghav Bahl, saying the plea was "premature".
GST authorities have expanded the probe into alleged tax evasion by fintech firm BharatPe to include reported issuance of fake invoices by those close to the firm's ousted co-founder Ashneer Grover, an official said. GST authorities are now scrutinising BharatPe books of the last four years to see if bogus invoices were issued for services as well. BharatPe had stripped Grover and his wife Madhuri Jain of all positions after a preliminary report of an external audit commissioned by the fintech firm's board showed that the duo indulged in alleged misdeeds and financial irregularities.
Barcelona and Argentina forward Lionel Messi had nothing to do with his own tax affairs and should not be included in an investigation into an alleged fraud, his father Jorge has insisted.
While retaining the basic exemption limits at Rs 1.6 lakh (for individuals), Rs 1.9 lakh (for women) and Rs 2.4 lakh (for the retired), the slabs have been hiked substantially.
A day before the announcement of the Union Budget for 2004-05, the Economic Survey called for "overhauling" the tax exemption regime saying low Tax:GDP ratio was a prime concern and it was coming in the way of improving government finances.
A national data centre of the income tax department will come up in the National Capital Region this year.
The amendments to the treaty will now be placed before the Swiss Parliament for final approval.
CBDT has directed officials to start scrutinising information from tax evasion petitions, and take them up on a priority basis.
The Cabinet on Tuesday approved signing of an agreement with Slovak Republic for the avoidance of double taxation and prevention of tax evasion.
The searches over suspected tax evasion began in the morning and it covered multiple premises connected to a prominent leader of the main opposition DMK, based in Tamil Nadu's Tiruvannamalai district.
The income and profits shown by various BBC group entities are "not commensurate" with the scale of their operations in India and tax has not been paid on certain remittances by its foreign entities, the income tax authorities said Friday, a day after they ended a three-day-long survey operation against the British media organisation.
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.
The G20 in 2013 had unanimously agreed to a 15 point action plan to check BEPS
Maran challenged reports that he and another company official have been summoned as accused by a Delhi court in two tax evasion cases
Income tax officials on Monday conducted surveys at offices of engineering major Larsen & Toubro and media firm Zee Group for alleged GST evasion, an official of the tax department said. When contacted, L&T neither confirmed nor denied the development, while the media group has confirmed the tax survey. The tax official said surveys have been carried out at many L&T premises in the city, and in case of Zee, the surveys are underway at all its offices across the country since morning.
India's gross tax collections soared to a record high of Rs 27.07 lakh crore in the fiscal year ended March 31, led by impressive growth in corporate tax and customs, taking the tax-to-GDP ratio to an over two-decade high of 11.7 per cent, Revenue Secretary Tarun Bajaj said on Friday.
He also took potshots at opposition parties' decision to observing November 8 as a 'Black Day', saying the move displays their faith in cash economy.
The marathon raids against Boudh Distillery Private Limited, its promoters and others entered the fifth day on Sunday.
ED officials said that Subhash was produced before a special PMLA court on Sunday morning and was sent to judicial custody.
The surprise action comes weeks after the broadcaster aired a two-part documentary on the 2002 Gujarat riots and India.
Finance Minister Pranab Mukherjee on Monday said that revenue authorities have detected tax evasion of about Rs 1 lakh crore (Rs 1 trillion) during the past 18 months as a result of international cooperation as well as domestic surveillance.
Searches are being conducted in connection with a case of alleged tax evasion.
India may have provided the fodder to the US tax evasion probe on some clients of HSBC Holdings, with respect to their accounts in the sub-continent nation, according to a finance ministry source.
Probe has allegedly found calculation errors by Amazon. The company paid higher GST but instead of claiming refund took wrong input tax credit.
According to government, the chocolate manufacturer wrongfully claimed exemption.
Jose Mourinho's agent says the Manchester United manager paid more than 26 million euros (USD 27 million) in taxes when he lived in Spain from 2010-13.
Union minister Anurag Thakur said that "one should take complete information and sometimes many issues come up that are far from truth..."
The amended Indo-Swiss taxation treaty has came into effect, a development that will allow India to seek specific information on black money and tax evasion cases dating back to January 1, 2011.
A Spanish court will push ahead with the process of prosecuting Argentina and Barcelona forward Lionel Messi for alleged tax evasion despite a recommendation from the public prosecutor the charges be dismissed.
The government has set a target of adding 1.3 crore income tax filers in the current financial year against 1.1 crore new filers added last year.
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 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.
In the US, it is obligatory for any citizen to provide details regarding any financial transaction he or she may have carried out overseas.
Former MotoGP world champion Valentino Rossi has agreed to pay 35 million euros (26 million pounds) to Italy's tax agency after coming to an agreement following a lengthy probe.
Gross GST collections in August grew 10 per cent to about Rs 1.75 lakh crore, reflecting higher domestic consumption. As per the government data released on Sunday, gross GST revenues from domestic transactions grew 9.2 per cent to about Rs 1.25 lakh crore. Revenues from import of goods were up 12.1 per cent to Rs 49,976 crore.
Failure to do so leads to incorrect filing and under-reporting of income, with adverse consequences, advises Bindisha Sarang.
According to the NIPFP, there is the possibility that even if the banking system matures over time, some transactions could bypass the system so as not to pay the BTT.
The probe into alleged tax evasion and holding of directorship in multiple firms against the former banker pertains to a time period between 2015-17, they said.
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