INCOME TAX

I-T Raids on Tamil Nadu Contracting Firm, Rs 100 Crore Cash, 90-kg Bullion Seized

The searches were launched on the premises of Ms SPK and Company, a partnership firm engaged in road and highway construction, on contract from the government.

Yogendra Yadav's Nephew Bought Jewellery Worth Rs 6 Lakh From Nirav Modi's Showroom

Yogendra Yadav accused the Narendra Modi government of targeting his family.

ITR Filing for FY 2017–18 Last Date Approaching Soon, Avoid These Common Errors While Filing Return to Stay Away From Income Tax Notice

CBI Books Pune-Based Income Tax Officer for Disproportionate Assets

The Central Bureau of Investigation (CBI) has registered a Disproportionate Assets (DA) case against Pune-based Income Tax (Audit) officer and his wife, on charges of acquiring property during 2010-2016 through unknown source of income.

Government Launches New Reward Scheme! Now Get Up to Rs 5 Crore for Information on Benami Transactions

The government on Friday launched a new reward scheme under which a person can get maximum of Rs five crore for information on 'benami' (proxy) transactions and properties.

Karnataka Political Drama: Shiv Sena Says Fight for Power Has Made Politics Dirty

Amidst the political turmoil in Karnataka following the Assembly election results, the Shiv Sena on Wednesday commented that the horse-trading and bribing allegations were maligning the state's political atmosphere and consequently, India's image in the world.

ICICI Bank-Videocon Loan Case: Income Tax Department Questions Venugopal Dhoot

Dhoot was responding to the summons issued by the I-T Department recently and was questioned by officials at its south Mumbai office for around four hours on Tuesday.

Income Tax Department Saves Rs 977 Crore in Last Five Years By Going Online & Dumping Indian Post

In the last five years, the income tax department has saved a whopping sum of Rs 977.54 crore on postage cost, because of a rise in its online communication through e-mails with taxpayers

Income Tax Sleuths Seize Cash, Gold in Poll-Bound Karnataka

Income-Tax (I-T) sleuths seized Rs 4.13 crore in cash and 4.52 kg gold jewellery valued at Rs 1.32 crore during raids conducted over the last three weeks in poll-bound Karnataka, an official said on Saturday.

Income Tax Department Warns Against Filing Wrong ITRs

The Income Tax Department on Wednesday cautioned salaried taxpayers not to under-report their income or inflate deductions and exemptions while filing tax returns, warning that wrong claims would be treated as cases of tax evasion.

Income Tax Dept Conducts Searches on McDonald's Franchise

The Income Tax today carried out searches at premises of Hardcastle Restaurants Pvt ltd (HRPL), the master franchisee of fast food chain McDonald's, in Delhi and Mumbai, officials said here.

Navjot Singh Sidhu's Bank Accounts Seized For Non-Payment of Taxes

The IT department noted that Sidhu had failed to provide documentary evidence, such as bills or invoices in support of his claim during the course of assessment proceedings.