Income Tax Department
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'Money not mine', says Gujarati bizman who declared Rs 13,860 cr
Dec 04, 2016, 07:32 AM ISTMahesh Shah, who came under the microscope of the Income Declaration Scheme (IDS) post a surprising disclosure Rs 13,860 crore in unaccounted wealth, seems to have taken a U-turn as he today said he was
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Ahmedabad businessman who declared Rs 13,000 crore unaccounted income fails to pay tax
Dec 02, 2016, 04:22 PM ISTIn a one of its kind case regarding unaccounted income, the Income Tax (I-T) department has under its scanner a businessman based out of Ahmedabad, who had voluntarily declared Rs 13,000 crore worth income.
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Demonetisation: Govt tightens noose, Rs 21,000 cr deposits in Jan-Dhan accounts now under I-T scanner
Nov 24, 2016, 03:38 PM ISTIncome Tax department has flung into action after reports that Rs 21,000 crore was deposited into Jan-Dhan accounts.
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15 questions taxmen want mining baron Janardhan Reddy to answer after daughter's big fat wedding
National | Nov 22, 2016, 02:13 PM ISTofficials of the Income Tax department have now begun to scan mining baron Janardhan Reddy's accounts for irregularities
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The Big Fat Rs 500 cr wedding: Marriage ceremony of Janardhan Reddy’s daughter under I-T scanner
National | Nov 17, 2016, 01:08 PM ISTThe extravagant wedding of Karnataka mining baron and former BJP minister Janardhan Reddy’s daughter, which is estimated to have cost about Rs 500 crore, has raised a firestorm of controversies.
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I-T Dept creates 'Tatkal' system aid to Nepal quake victims
India | Apr 29, 2015, 04:45 PM ISTNew Delhi: The Income Tax department has launched a ‘Tatkal' approval mechanism for those charitable and self-help organisations who desire to help the victims of the earthquake in Nepal.“A special desk has been deployed at
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Income Tax department publishes list of big Tax defaulters in newspapers
Apr 27, 2015, 09:14 AM ISTNew Delhi: As part of its strategy of 'naming and shaming' big defaulters, the Income Tax department on Saturday published names of 31 tax evaders who owe over Rs 1,500 crore tax to the government.The
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Don't harass taxpayers, PM Modi tells CBDT
India | Mar 30, 2015, 05:31 PM ISTNew Delhi: Prime Minsiter Narendra Modi's displeasure over delay in income tax refund has send the Central Board of Direct Taxes in a tizzy. Modi flagged the issue last week during his Pragati video conference
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Taxman to closely scrutinise foreign assets held by Indians: Report
Mar 22, 2015, 06:06 PM ISTNew Delhi: The Income Tax Department will carry out closer scrutiny of those tax statements wherein an assessee has disclosed that he or she holds bank accounts or any other assets abroad before the current
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I-T to closely scrutinise foreign assets held by Indians
India | Mar 22, 2015, 12:29 PM ISTNew Delhi: The Income Tax department will carry out closer scrutiny of those tax statements wherein an assessee has disclosed that he or she holds bank accounts or any other assets abroad before the current
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I-T Department slaps Rs 20,495 cr tax demand on Cairn
Mar 13, 2015, 06:32 PM ISTNew Delhi: Income Tax Department has slapped a Rs 20,495 crore tax demand on Cairn India Ltd for allegedly failing to pay taxes on gains made by its former parent in a share transfer transaction
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Income tax department sitting on Rs 1.19 lakh crore worth of refunds in last 3 years
Mar 10, 2015, 06:11 PM ISTIncome tax refunds to the tune of over Rs 1.19 lakh crore is pending for the last three fiscals, starting 2012-13, Parliament was informed."Income-tax refunds amounting to Rs 1,19,964.13 crore relating to last three assessment
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I-T dept to focus on prosecuting willful tax evaders
India | Feb 13, 2015, 07:49 AM ISTNew Delhi: The Income Tax Department has shifted its focus from revenue augmentation to prosecution of willful tax evaders.Central Board of Direct Taxes (CBDT) on Thursday confirmed that the I-T Department has started focusing on
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AAP, Congress served I-T notice over funding
National | Feb 11, 2015, 02:33 PM ISTNew Delhi: The Income Tax Department has served a notice on Aam Aadmi Party seeking an explanation on charges of receiving funds from dubious sources as alleged by a splinter group -- a charge that
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Ahmedabad: School discovers 21 gold bars, Rs 1 crore cash during Swachh Bharat drive
India | Feb 01, 2015, 05:45 PM ISTAhmedabad: During a cleanliness drive under Prime Minister's Swachh Bharat Abhiyaan, a school in Chandkedheda discovered Rs 1 crore cash and 21 gold bars worth Rs 59 lakh stashed away in a locker.The Kendriya Vidyalaya
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Officials heighten vigil to check flow of black money during Delhi polls
National | Feb 01, 2015, 12:59 PM ISTNew Delhi: Central revenue department officials have raised vigil to check any flow of black money from air and land transit points ahead of the upcoming Assembly elections in New Delhi.Officials of the Directorate of
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Regularly routed cash through hawala, top Birla executive tells I-T
India | Jan 15, 2015, 11:56 AM ISTNew Delhi: A top financial executive of the Aditya Birla Management Corporation Pvt Ltd (ABMCPL) has told the Income Tax department that officials of the company regularly routed large amounts of cash through ‘angadias' (courier)
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ED probe likely on Qureshi's financial dealings
India | Oct 30, 2014, 07:17 AM ISTNew Delhi: The Income Tax department, which has kept the controversial meat exporter Moin Qureshi under its scanner, is likely to submit a report to the Government about the purported conversations between him and former
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Swiss authority willing to disclose info on black money:Centre to SC
India | Oct 27, 2014, 06:45 PM ISTNew Delhi: The Centre today told the Supreme Court that Swiss government has indicated its willingness to provide information on "stolen data" containing names of Indians who had allegedly stashed black money in banks there.The
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Himachal High Court Quashes Circular of Income Tax department
India | Oct 16, 2014, 06:58 AM ISTShimla: The Himachal High Court yesterday quashed a circular of Income Tax department regarding deduction of income tax on the award and interest accrued on them by court in Motor Accident Claims cases.Passing the orders