- Tag results for Income Tax Department
The I-T sleuths were reportedly acting on suspicious transactions found in Reddy’s business operations.
BJP spokesman Sambit Patra said in fact, time has come for Rahul Gandhi to "surrender" before the country and explain why after so much of defalcation "you can give a call for Bharat Bandh".
DMK president MK Stalin on Saturday demanded that Health Minister C Vijaya Basker immediately step down following his father’s reported submission before the IT department.
According to a draft notification, where the mother of a PAN applicant is a single parent, the individual would have to mention only the name of the mother.
The Karnataka High Court on Thursday upheld the contention of the Income Tax Department that the land in custody of Mysuru royal family at Palace Grounds in the city were chargeable with wealth tax.
The I-T unit is investigating suspected tax evasion, with raids held in June at the offices and residences of the people involved in the church land deal.
Post verification of around 9000 cases, the Directorate General of Intelligence and Criminal Investigation and Department of Income Tax detected this undisclosed income.
In several cases of such companies, petitions for restoration of registration are required to be filed before the NCLT so as to be able to pursue recovery of demands raised in their cases.
The bench held that the I-T department cannot claim any priority because of the fact that the order of attachment issued by it was prior to the initiation of liquidation proceedings under the code.
The Benami Transaction (Prohibition) Amendment Act, 2016, seeks to prohibit the benami transaction irrespective of the method by which such property, both movable and immovable, is acquired.
The undisclosed income admitted by taxpayers on account of searches in 2017-2018 was Rs 1,166.97 crore and in the present year, it is Rs 285.7 crore.
Income Tax Department employees have threatened to stop taking part in surveys or checks from August 1.
In May, the I-T department had written to Bentonville-Arkansas-based Walmart, saying that the US company can seek guidance about the tax liability under Section 195 (2) of the I-T Act.
Curb high-pitched assessments; take action against erring assessing officers: CBDT to I-T department
CBDT Chairperson Sushil Chandra, in a recent three-page directive to all regional ITD chiefs, expressed disappointment that a special drive launched in this regard in 2015 had failed.
I-T department sources said the probe was related to evasion of tax by floating a large number of shell companies.