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.
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.
The group's digital news site had put out reports, along with pictures, on dead bodies of suspected coronavirus patients floating down the river Ganga in Uttar Pradesh and Bihar which had led to nationwide consternation.
A national data centre of the income tax department will come up in the National Capital Region this year.
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.
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.
The Centre has recovered around Rs 95.86 crore from at least 11 crypto exchanges for evading goods and services tax (GST), according to data released by Parliament on Monday. The amount includes interest and penalty. The GST investigation department has detected a total tax evasion of Rs 81.54 crore by crypto exchanges that include WazirX, Coin DCX, CoinSwitch Kuber, Buy Ucoin, UnoCoin and Flitpay, among other exchanges. In a written reply to Lok Sabha, minister of state (MoS) for finance Pankaj Chaudhary said 11 cases of GST evasion by cryptocurrency exchanges have been detected by central GST formations.
The amendments to the treaty will now be placed before the Swiss Parliament for final approval.
Vivek Johri, the Chairman of Central Board of Indirect Taxes and Customs (CBIC) on Friday said that the cash recovery of approximately Rs 150 crore from searches in Kanpur at several locations related to Trimurti Fragrance is the 'biggest haul ever'.
The Cabinet on Tuesday approved signing of an agreement with Slovak Republic for the avoidance of double taxation and prevention of tax evasion.
The Director General of Goods and Services Tax Intelligence (DGGI) has slapped its heftiest tax notice of Rs 21,000 crore on Bengaluru-based Gameskraft Technology (GTPL) for allegedly evading GST on the betting amount. Gameskraft has dubbed the notice a "departure from the well-established law of the land". The company is accused of promoting online betting through card, casual and fantasy games like Rummy Culture, Gamezy and Rummy Time.
Did you know that an individual can, in addition to the tax benefits she/he is entitled to, also leverage the benefits available to family members to reduce this liability?
GST collections rose 28 per cent to Rs 1.49 lakh crore on an annual basis in July on the back of economic recovery and measures taken to curb tax evasion, the government said on Monday. In July, 2021, Goods and Services Tax (GST) collections stood at Rs 116,393 crore. The collections in July this year is the second highest since the introduction of GST in July 2017, the ministry said in a statement.
At least 120 insurance intermediaries and aggregators from across the country are under scrutiny, mainly from Mumbai, Gurugram and Bengaluru.
The G20 in 2013 had unanimously agreed to a 15 point action plan to check BEPS
CBDT has directed officials to start scrutinising information from tax evasion petitions, and take them up on a priority basis.
'It is ensured that no adversaries or people who oppose Tahawwur Rana's philosophy are housed in the same ward or jail.' 'Additionally, it is ensured that he does not have any prior contacts within that jail.' 'So, the lodgment of such a high-profile prisoner is done very carefully.'
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.
'This year's detection of frauds and probable recovery will be mainly driven by several compliance measures put in place, and amendments made to the GST regime to plug revenue leakages particularly in new-edge sectors.'
Maran challenged reports that he and another company official have been summoned as accused by a Delhi court in two tax evasion cases
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 Delhi high court on Monday refused to quash an Enforcement Directorate money laundering case against media baron Raghav Bahl, saying the plea was "premature".
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.
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.
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.
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.
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.
According to government, the chocolate manufacturer wrongfully claimed exemption.
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.
Searches are being conducted in connection with a case of alleged tax evasion.
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.
If you think that revenue officials are going berserk, acting on their own, while the government chants the mantra of 'ease of doing business', you would be wrong. These moves appear to have full official backing, points out Debashis Basu.
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.
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.
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.
Probe has allegedly found calculation errors by Amazon. The company paid higher GST but instead of claiming refund took wrong input tax credit.
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.
In the US, it is obligatory for any citizen to provide details regarding any financial transaction he or she may have carried out overseas.
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