I T Dept
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PAN 2.0: What's there in the Cabinet decision for existing holders?
Explainers | November 30, 2024 14:32 ISTTo modernise India’s tax administration, the Union Cabinet has approved PAN 2.0, the upgrade of PAN services. The new upgrade will feature streamlining of registration and verification processes using cutting-edge technology.
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ITR filing: 'Over 5 crore returns filed so far this fiscal year', says Income Tax Department
July 27, 2024 20:42 ISTThe last date to file the Income Tax Returns for the assessment year 2024-25 and financial year 2023-24 is July 31. Once filed the ITRs will be processed and verified by the department.
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IT Department conducts searches in UP, Karnataka; seizes incriminating material
India | December 21, 2021 21:39 ISTIn respect of a Bengaluru-based Trust and its related entities covered in the search action, it is revealed that substantial amounts of trust funds amounting to Rs. 80 lakh have been transferred.
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IT dept detects Rs 700 cr tax evasion after raids on Hyderabad-based realty developers
India | April 01, 2021 10:51 ISTCash amounting to ₹ 11.88 crore and jewellery worth ₹ 1.93 crore were also seized during the action against the groups based in and around Yadagirigutta, a suburb of Telangana's capital city, the Central Board of Direct Taxes (CBDT) said.
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IT dept detects Rs 220 crore black income after raids on TN-based tiles manufacturer
India | February 28, 2021 9:52 ISTThe CBDT said in a statement that Rs 8.30 crore cash was seized during the raids on the group engaged in the business of manufacture and sale of tiles and sanitaryware. The group is the "leader" in tiles business in south India.
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I-T Dept unearths cash-for-seat scam in Karnataka medical colleges, detects over Rs 400cr blackmoney
Business | February 18, 2021 22:36 ISTThe Income Tax Department has detected an alleged cash-for-seat scam running in some Karnataka-based medical colleges, as the CBDT said over Rs 400 crore blackmoney has been generated in the name of capitation fee by these institutions.
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I-T dept moots doing away with mandatory quoting of father's name in PAN application
India | August 31, 2018 22:26 ISTAccording 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.
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Karnataka minister D K Shivakumar paid unaccounted money to AICC, I-T dept tells Special Court
India | June 21, 2018 22:54 ISTIn a complaint filed before the Special Court, the I-T Department alleged that the cash payments were made personally by V Mulgund to the AICC.
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Rotomac case: I-T dept files 6 charge sheets against Vikram Kothari
Business | February 26, 2018 23:25 ISTThis is the second major financial scam to break out after the sensational Rs 11,400-crore fraud allegedly committed by billionaire jewellery designer Nirav Modi and his uncle Mehul Choksi.
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PNB fraud: Can't depose before ED, says Nirav Modi; Rs 100 crore deposits, luxury cars seized
Business | February 22, 2018 23:16 ISTNirav Modi, the billionaire diamond king under the scanner of various investigating agencies, failed to depose before the ED after summons were issued to him.
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Do not donate over Rs 2,000 in cash to political parties: I-T dept
Politics | January 23, 2018 14:17 ISTThe Income Tax Department today cautioned people against indulging in illegal cash transactions including donating more than Rs 2000 to political parties.
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Delhi: I-T dept again raids U&I Vaults office, seizes cash, jewellery worth Rs 21 crore
Business | January 13, 2018 14:17 ISTThe investigation wing of the Delhi Directorate of Income Tax on Friday raided the premises of U&I Vaults Limited, and seized items worth Rs 21.2 crore.
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Pictures of Rs 17,000 crore seized from Sasikala's home go viral
News | December 07, 2017 21:08 IST -
No questions to those depositing up to Rs 2.5 lakh, clarifies I-T
February 07, 2017 8:05 ISTProviding clarity on scrutiny of deposits made in banks post demonetisation, the Central Board of Direct Taxes (CBDT) on Monday said that no questions will be asked about deposits of up to Rs 2.5 lakh
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I-T dept issues 87 notices under Benami Property Act
India | January 31, 2017 6:53 ISTthe Income Tax department on Monday said it has issued 87 notices and attached bank deposits worth crores in 42 cases nationwide under the newly enforced Benami Transactions Act which attracts a heavy penalty and rigorous jail term of a maximum 7 yea
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Report deposits above Rs 10 lakh a year: Govt tells banks
January 20, 2017 7:09 ISTthe government has asked banks to report deposits in any account aggregating Rs 10 lakh in a year, as well as cash payments of Rs 1 lakh or more on credit card bills.
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Could Delhi Health Minister Satyendra Jain be first casualty of new Benami Property law?
Politics | January 10, 2017 13:47 ISTTroubles seem to be mounting for Delhi Health Minister Satyendra Jain who could soon find himself in the net of the amended ‘Benami property’ law recently introduced by the Centre.
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I-T dept detected Rs 4,807 cr undisclosed income, seized Rs 112 cr of new notes
January 09, 2017 6:33 ISTFollowing the demonetisation drive, India's Income Tax Department has detected undisclosed income of over Rs 4,807 crore and seized new notes worth Rs 112 crore, an official source here said on Sunday.
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Alarmed over ten-fold rise in ‘suspect transactions’, banks alert tax authorities
January 04, 2017 9:35 ISTbanks are not taking any chances in reporting “suspicious” transactions with some of the private banks reporting an increase of up to 10 times.
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IT sleuths tighten noose around cash mafia, take CBI, ED, police on-board
India | December 14, 2016 7:29 ISTthe Income Tax department has expanded its scope of investigation beyond tax invasion by roping in the police, the CBI and the Enforcement Directorate (ED) to look for possible criminality and money laundering.
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