Income Tax

I-T unearthes Rs 1,000 crore undisclosed income of two Chennai-based groups

According to a statement from Central Board of Direct Taxes, the searches were carried out at 27 premises in Chennai, Mumbai, Coimbatore, Madurai, Trichy, Thrissur, Nellore, Jaipur and Indore.

published on : 8th March 2021

'Not so sasti anymore': Taapsee Pannu denies allegations days after income tax raid

She stated that there is no property in her name in Paris or payment receipts made to her, to the tune of Rs 5 crore.

published on : 6th March 2021

CBDT extends relief from double taxation worries to NRIs stranded by pandemic

CBDT had recently received various representations from across the country requesting a relaxation in the guidelines determining residential status for the fiscal year 2020-21.

published on : 5th March 2021

NCP says Income Tax raids on Anurag Kashyap, Taapsee Pannu 'a bid to curb voices of dissent'

The searches were being carried out in over 30 locations in Mumbai and Pune, officials said.

published on : 3rd March 2021

IT raid unearths undisclosed income of Rs 220 cr

The inspection was carried on a leading Chennai-based tiles and sanitary ware unit

published on : 1st March 2021

Premises of Haryana MLA who withdrew support to Khattar-led BJP government and backed farmers raided

Sleuths of the I-T department conducted raids at the residences and offices of Independent MLA Balraj Kundu at Rohtak and Gurugram in Haryana.

published on : 26th February 2021

I-T officials raid premises, offices of MSN Pharma in Telangana

It was found that the management of MSN Pharma failed to submit proper IT returns and concealed details of sources of income.

published on : 25th February 2021

I-T dept detects Rs 450 crore undisclosed income by firm owned by MP Congress MLA's kin

Nine bank lockers have also been found during the search, the Central Board of Direct Taxes, which frames policy for the tax department, said.

published on : 22nd February 2021

Colleges took Rs 402 crore in illegal fees, says I-T dept

The colleges had also diverted the cash collected for non-charitable purposes by the trustees.

published on : 19th February 2021

IT Dept raids at 18 locations owned by Congress MLA Nilay Daga’s family across three states

The searches began at around 18 locations in Betul and Satna in BJP-ruled MP, Mumbai and Solapur in Maharashtra and TMC-ruled West Bengal’s capital Kolkata.

published on : 19th February 2021

I-T Department's operation finds shocking evidence of admission malpractices at medical colleges

A release by the department through PIB says that so far, the evidence gathered indicates that the money has been accepted as illegal capitation fees by manipulating the online admission process.

published on : 19th February 2021

Faceless Income Tax Appellate Tribunal not in keeping with Indian legal system?

Thee Union Budget has now taken this ambitious measure that would consequentially eliminate the most decisive part in promoting justice – the 'Oral Hearing'.

published on : 13th February 2021

Income Tax Department detects Rs 300-crore black income after raids on Kolkata groups

The I-T Department seized Rs 87 lakh cash and jewellery worth Rs 61 lakh during the searches that were launched on February 5 at 17 locations in Kolkata, Haidwar and Bhubaneswar.

published on : 11th February 2021

Budgets and the impact of expectations

Suffice to say, nothing of that sort happened and owing to stretched valuations and the advent of Covid-19, the equity markets received a slam dunk after an initial uptick.

published on : 8th February 2021

Working to change people's perception about I-T dept to being 'tax facilitators' : CBDT chief

'I would say what has been hitherto the perception outside that we are tax enforcers, I would like to change it to as being perceived as tax facilitators,' Mody said at a PHDCCI event.

published on : 4th February 2021
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