Domestic black money window will ensure peace of mind: IT dept

Domestic black money window will ensure peace of mind: IT dept

The Income Tax department on Thursday brought out its first public advertisement to popularise and create awareness about the four-month window for declaring domestic black money that opens on June 1.

 

IT department to 'name and shame' crorepati defaulters this fiscal

IT department to 'name and shame' crorepati defaulters this fiscal

The department has begun publishing the names of tax defaulters in leading national dailies since last year and has named 67 such defaulters from across the country till now.

IT dept's PAN-Aadhaar linkage crosses 50-lakh mark

The Income Tax department's ambitious plan to link its PAN number database with Aadhaar has crossed the 50-lakh mark.

 

SC allows IT department to reassess Amitabh Bachchan's income for the year 2001-02

SC allows IT department to reassess Amitabh Bachchan's income for the year 2001-02

IT department had challenged Bombay HC order in SC that gave tax relief to Amitabh.

Vodafone challenges special audit order: HC seeks IT reply

Vodafone challenges special audit order: HC seeks IT reply

Delhi High Court today sought the Income Tax department's response on Vodafone's plea challenging an order directing special audit of its accounts for assessment year 2012-13.

Just 1% of population pay taxes; over 5,000 paid more than Rs 1 crore

Just 1% of population pay taxes; over 5,000 paid more than Rs 1 crore

Taxpayers account for just about one per cent of India's population, but tax outgo was over Rs 1 crore for as many as 5,430 individuals, as per the latest data disclosed by the government for assessment year 2012-13.

Panama paper leaks: I-T dept may go to court, seek SIT to probe 7-year old cases

Panama paper leaks: I-T dept may go to court, seek SIT to probe 7-year old cases

The Panama Papers are a set of over 11 million confidential documents detailing information about more than 214,000 offshore companies compiled by Panamanian corporate service provider Mossack Fonseca.

I-T department slaps Rs 750 crore fine on Asaram, son Narayan Sai

I-T department slaps Rs 750 crore fine on Asaram, son Narayan Sai

In more trouble for controversial godman Asaram Bapu, the Income Tax department has slapped Rs 750 crore fine on him and his son Narayan Sai.

EC detains two with Rs 1 crore 34 lakh cash in Kerala

Two persons were detained by the Election Commission who were travelling to Kerala in a bus with carrying Rs 1 crore 34 lakhs.

Panama Papers leak: India to take part in special OECD meet in Paris today

Panama Papers leak: India to take part in special OECD meet in Paris today

India will take part in a special OECD meet on Wednesday in Paris to firm up cooperation between countries in the wake of the 'Panama Papers' leak that has seen the government here order a multi-agency probe after 500 Indians were named in it as holding offshore assets in the tax haven.

 

No dichotomy between assurances and action on retrospective tax: Jayant Sinha

No dichotomy between assurances and action on retrospective tax: Jayant Sinha

Dismissing notions of contradiction between ministerial assurances and departmental actions on retrospective taxation, Union Minister Jayant Sinha on Thursday said Income Tax department has to follow "due process of law" in the Rs 8,500-crore Vodafone transfer pricing case.

Cairn faces Rs 10,247-crore fine on top of Rs 29,000 crore tax demand

Cairn faces Rs 10,247-crore fine on top of Rs 29,000 crore tax demand

In a circular to shareholders, the company said it had on February 4 received "a final assessment order from the Indian Income Tax Department in amount of Rs 10,247 crore plus interest back dated to 2007 totalling Rs 18,800 crore.

Rs 8,500-cr Vodafone TP case: I-T Dept to challenge Bombay HC verdict

Rs 8,500-cr Vodafone TP case: I-T Dept to challenge Bombay HC verdict

The Income-Tax Department Wednesday said it will move the Supreme Court challenging the Bombay HC order in the Rs 8,500-crore Vodafone transfer pricing case.

ED conducts searches at Nashik infra firm over Chhagan Bhujbal link

Enforcement Directorate and Income Tax department on Tuesday conducted joint searches at the office of an infrastructure firm here and the residence of its head in connection with allegations that it financed certain construction by family of ex-deputy Chief Minister Chhagan Bhujbal, arrested last month in a money laundering case.

Cairn asks govt to walk the talk on retro tax

Cairn asks govt to walk the talk on retro tax

Weeks after being slapped with a Rs 29,000 crore 'retrospective tax demand', British oil explorer Cairn Energy today said international investors want the Modi government to walk the talk on resolving retrospective tax issues and send a clear signal that things are changing

Will file reply to IT dept show cause notice: Vodafone to HC

Will file reply to IT dept show cause notice: Vodafone to HC

Vodafone on Wednesday told Delhi High Court that it will file a reply by Friday to the income tax department's show cause notice asking the company why its 2011-12 financial records should not be subjected to a special audit.

No more extension to file reply on special audit notice would be granted: HC to Vodafone

No more extension to file reply on special audit notice would be granted: HC to Vodafone

The Delhi High Court on Monday asked Vodafone to reply to Income Tax Dept show cause notice by March 23.

"Prominent" people concealing taxable income as agricultural earning: FM Jaitley

"Prominent" people concealing taxable income as agricultural earning: FM Jaitley

Many prominent people are being probed for allegedly concealing taxable income as agricultural earnings, Finance Minister Arun Jaitley said on Tuesday and told the Opposition not to term it as political victimisation if their names come out.

 

Maximum 'crorepati' agriculturists in Bengaluru, Delhi and Mumbai

Maximum 'crorepati' agriculturists in Bengaluru, Delhi and Mumbai

Metro cities like Delhi, Mumbai, Kolkata and Bengaluru have the maximum 'crorepati' entities who have declared agricultural income of over Rs 1 crore in the last nine assessment years with the Income Tax department.

 

SEBI clampdown busts over Rs 15,000-cr worth tax evasion

SEBI clampdown busts over Rs 15,000-cr worth tax evasion

In a major clampdown, regulator SEBI has debarred over 1,000 entities from the capital markets after they were found to be misusing stock exchange platforms for tax evasion to the tune of more than Rs 15,000 crore.