New Delhi: The Central Board of Direct Taxes dashed hopes of all taxpayers waiting for further extension of due dates for filing tax returns rejecting all representation in this regard, citing that the process cannot be delayed ‘indefinitely’ and hamper the functioning of the tax department and welfare programmes of the government. The decision means that […]
Tag: Income Tax Department
I-T searches in Delhi, Assam unearth Rs 100 cr in undisclosed income
New Delhi: The Income Tax Department’s search and survey action against three leading contractors of north-eastern India has led to the alleged unearthing of undisclosed income of nearly Rs 100 crore so far. One of the groups is into hospitality business. The searches have been carried out at 14 locations in Delhi, and Guwahati, Silapathar, and […]
Staying mum to queries under faceless assessment to bring tax evaders under I-T lens
New Delhi: The government’s faceless tax assessment scheme will not completely relieve taxpayers from frequent scrutiny by tax authorities to check evasion. The Income Tax Department has decided to crack down on taxpayers who use the faceless platform to file returns but avoid responding to queries generated online calling for enquiry and further verification of records. […]
Income Tax Department raids 42 locations across India, recovers Rs 2.3 cr cash
New Delhi: The Income Tax Department has seized cash over Rs 2.3 crore and jewellery worth Rs 2.8 crore during searches at 42 locations in Delhi-NCR, Haryana, Punjab, Uttarakhand and Goa, on a large network of individuals running a racket of entry operation and generation of huge cash through fake billing. The I-T Department in a […]
Odisha daily wage labourer gets I-T notice for Rs 1.47 cr transaction
Bhubaneswar: Sanadhara Gand, a daily wage labourer from Odisha’s Nabarangpur district, was shocked when he received a notice from the Income Tax (I-T) Department for carrying out bank transactions of Rs 1.47 crore. The I-T Department has sent a notice to Sanadhara Gand, a resident of Purjaribharandi village, asking him to pay Rs 2.59 lakh […]
Ahead of polls, IT seizes Rs 29 cr cash in Mumbai
Mumbai: The Income Tax Department has seized Rs 29 crore cash here since the model code of conduct was enforced in the state ahead of the October 21 Maharashtra Assembly elections, an official said here on Saturday. The Department is keeping an eye on movement and distribution of unaccounted cash/valuables through Quick Response Teams, deployed at […]
IT Dept. raids 28 business establishments in UP
Lucknow : The Income-Tax department raided 28 business establishments in the state capital and Kanpur on Thursday, officials said. The IT sleuths raided the shops of a famous sweet chain in the state capital. Heavy police deployment was seen during the raids, while IT officials remained tight-lipped about the seizures made. According to sources, the […]
I-T carries out ‘surveys’ at Raghav Bahl’s home, office for alleged tax evasion
New Delhi : Sleuths of the Income Tax department on Thursday carried out “surveys” at the residence and office premises of Raghav Bahl, head of news portal, The Quint in connection with a case of alleged tax evasion, officials said. According to the IT department officials, a team reached the residence of Bahl in Uttar […]
Income Tax Department sends second notice to Deepak Kochhar
New Delhi : The Income Tax Department has sent a second notice to Deepak Kochhar, husband of ICICI Bank Chief Executive Chanda Kochhar, who is facing conflict of interest questions over the bank’s Rs 3,250-crore loan to the Videocon Group in 2012, a department official said on Monday. The source said the department had sent […]
Income Tax Department warns against filing wrong ITRs
New Delhi : 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. In a single-page advisory issued on Wednesday, the department said such attempts aided and abetted by unscrupulous […]