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Advance tax: Banks, cement cos falter, but IT firms payout up

Last Updated: Tuesday, March 18, 2014, 23:04

The ongoing gloom on economic front has led to concerns on advance tax collections from banking and cement sectors, but information technology companies seem to be delivering well, Income tax officials said Tuesday.

Cairn Energy suspends share buyback due to tax dispute

Last Updated: Tuesday, March 18, 2014, 16:11

Cairn Energy had in October last year announced a USD 300 million programme to buy-back shares for cancellation.

IT raids on three business houses, recovers Rs 60 cr

Last Updated: Saturday, March 01, 2014, 00:55

Income Tax department has recovered Rs 60 crore of undisclosed income from three business houses following a raid at 35 places in the state, sources said.

No tax evasion angle to probe in Radia tapes: I-T to SC

Last Updated: Sunday, February 23, 2014, 20:57

The Income Tax department has found no instance of tax evasion after going through the entire range of intercepted conversations of corporate lobbyist Niira Radia on directions of the Supreme Court in connection with the 2G case.

Tax dept finalises response to Vodafone's BIPA notice

Last Updated: Sunday, February 23, 2014, 12:31

The Income Tax department plans to rebut Vodafone's notice under BIPA saying that the pact between India and Netherlands does not cover taxation issues.

No tax evasion angle to probe in Radia tapes: I-T to SC

Last Updated: Sunday, February 23, 2014, 10:38

The Income Tax department, on directions of the Supreme Court in connection with the 2G spectrum allocation case, has found no instance of tax evasion after going through the entire range of intercepted conversations of corporate lobbyist Niira Radia.

I-T dept identifies 21.75 lakh tax 'non-filers'

Last Updated: Friday, February 21, 2014, 21:13

In a last-ditch effort to meet revenue targets, the Income Tax Department on Friday said it has identified 21.75 lakh new "potential non-filers", and urged all tax payers to disclose their true income and pay appropriate taxes.

Income Tax department raids at 37 premises of Uflex Limited

Last Updated: Thursday, February 20, 2014, 00:42

Income Tax department today carried out raids at 37 premises associated with Uflex Limited in nine cities and claimed to have found bogus sale worth Rs 100 crore alongwith unaccounted cash worth Rs 2 crore.

Letters to be sent to 23 lakh assessees for not filing returns

Last Updated: Sunday, February 16, 2014, 12:27

In a last-ditch effort to meet revenue targets, the Income Tax Department will be sending out letters to 23 lakh assessees who have not filed returns.

Cairn Energy plc says fully tax compliant

Last Updated: Friday, January 31, 2014, 14:02

Facing a potential tax demand on an alleged Rs 24,500 crore of capital gains it made on transferring India assets to a new company, Scottish explorer Cairn Energy plc Friday said it was fully compliant with the tax legislation in force when it operated in the country.

New PAN card to cost Rs 105

Last Updated: Tuesday, January 28, 2014, 15:14

New PAN cards issued by the Income Tax department will cost Rs 105, including taxes.

'Cairn UK did not pay tax on Rs 24,503.50 cr of capital gains'

Last Updated: Tuesday, January 28, 2014, 01:56

This payment that the UK firm received was against its entire investment of Rs 2,178.36 crore (251.22 million pounds) in the India business.