Taxmen also claimed that the signature of Siddhartha on the letter being circulated on the social media under his name "does not match" with the record available with the department.
Finance Minister P Chidambaram has directed Income-Tax officials to monitor advance tax mop-up, tax deducted at source, and hasten the recovery of tax arrears to attain direct tax target of Rs 1,39,510 crore (Rs 1395.1 billion) in 2004-05.
I-T officials are also looking into the finances of candidates who contested state elections in Uttar Pradesh, Punjab, Gujarat, and Karnataka, reports Shrimi Choudhary.
In a major cash haul, Income Tax officials today seized Rs 13.5 crore during searches at the premises of a gutka manufacturer.
Tax authorities want to reduce harassment of tax payers by eliminating interface between assessees and taxmen
The next time Amitabh Bachchan hosts Kaun Bangea Crorepati or Sachin Tendulkar hits a ton in an Indian Premier League match, the taxmen may come knocking on their doors.
The Hindutva social media continues to present the DMK especially as anti-god, anti-Hindu and anti-Brahmin. The strategy did not work in the past, it has not worked in the present, and would not work in the future, as a massive vote-getter, asserts N Sathiya Moorthy.
The Indian Premier League scandal gets murkier and murkier by the day.
Tax sleuths unearthed central excise and service tax evasion amounting to over Rs 5,500 crore (Rs 55 billion) in the 2010-11 financial year, even as pressure mounted on the government to crack down on black money.
In spite of having various appellate tribunals and commissions within its establishment, the Income Tax Department has registered a more than two-fold rise in appeals in Supreme Court in cases involving crores of rupees of the exchequer.
These officers also have been divested of their current duties on charges of violating Rules 9 and 3(1)(xx) of the Central Civil Service Conduct Rules.
The government had on Wednesday faced major embarrassment in the Rajya Sabha as five amendments moved by the Congress and the CPI-M to the Finance Bill were adopted and approved by the House.
Search and seizure operations by the revenue authorities have forced tax evaders in the national capital to cave in and admit that they owe the government more than Rs 860 crore (Rs 8.6 billion) for the last fiscal.
The IT personnel had also seized currency and cash and jewellery worth Rs 6 crore (Rs 60 million) from Delhi-based Suncity Projects during searches, initiated on September 25, that lasted 30 hours, official sources said. According to the Income Tax department, the company had allegedly shown investments in other companies, which were later found to be of the same group.
To snatch a state government out of Congress hands is therefore a high-stakes game with national political implications, for it denies the party the essential fuel to run effective election campaigns, notes T N Ninan.
This time round, even 'petrol coupons' were reportedly distributed for those attending campaign rallies, especially those addressed by top leaders, cutting across party lines. If this owed to the rising cost of petrol and diesel -- which is a poll issue this time -- there were the customary coupons for 'quarter' (liquor bottle size) and non-vegetarian biryani. Some media reports claimed that some of these 'crowds' attended more than one political rally on the same day in the last week, and at times for rival political parties in adjoining constituencies or districts, says N Sathiya Moorthy.
Income tax collections recorded a whopping 54 per cent growth at Rs 12,498 crore (Rs 124.98 billion) in the first quarter of this fiscal
Majority of respondents feel that the government in the forthcoming Budget will increase the standard deduction and give more incentives for housing loans.
Mumbai collected Rs 17,174 crore of advance taxes against Rs 7,356 crore in the same period last year. The tax authorities believe that such a staggering growth rate is a positive sign for the economy.
Finance Minister Jaswant Singh on Wednesday launched a national Tax Information Network, which will be managed by the National Securities Depositories Ltd as part of efforts to streamline the system and check evasion.
Promising a carrot and stick policy, Finance Minister P Chidambaram on Wednesday said taxmen will use annual information report, tax information network and the new bank cash transaction tax to track tax evaders.\n\n
Includes those dealing in high-value property and petrol pump owners
Modi said officers must fix clear targets to improve the country's tax administration by 2022, the 75th anniversary of Independence.
With a strong plan in mind, Public Provident Fund can become an important and strong part of your investment, says Naval Goel.
Kim Clijsters is considering becoming an Australian citizen to spare her from the clutches of the Belgian taxman, according to Belgian media reports.\n\n
The tax department will analyse mismatches in income declarations and spending patterns to trace tax evasions and black money.
911 have been traced by the Securities and Exchange Board of India (Sebi), while the rest of the 402 are not traceable on the bourses
The crime branch officials raided the four call centres on Saturday and arrested one person, but his identity was not revealed as it may affect probe in the case.
The Chief Minister Palaniswami camp, however, blamed the Sasikala family for the raids.
Considering that all sides to the game feel being targeted by the BJP-ruled Centre through taxmen and their ED/CBI counterparts, both factions may not rule out the possibility of patching up after a time, says N Sathiya Moorthy.
The income-tax department has created various functionalities under its Project Insight, which will provide the 360-degree profile of taxpayers, including new and non-filers to gauge their accountability and tax liability. The tax department had on March 15 put out instructions for tax officials for accessing the insight.
There are so many questions surrounding the conduct of the revised bypoll to Chennai's RK Nagar seat that it stretches the credibility of the electoral process, says N Sathiya Moorthy.
The sleuths of the department seized over Rs 4 crore in new currency, mostly in denomination of Rs 2000, some notes of Rs 100, demonetized notes of Rs 500 and a few gold biscuits
Market regulator scours platforms to establish link between traders and those who share info.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances