Income Tax department

I-T dept conducts surveys at Bitcoin exchanges country-wide

I-T dept conducts surveys at Bitcoin exchanges country-wide

Bitcoin, a virtual currency, is not regulated in the country and its circulation has been a cause of concern among central bankers the world over for quite a while now.

Dec 13, 2017, 12:36 PM IST
I-T notices to 1.16 lakh individuals and firms for cash deposit of over Rs 25 lakh

I-T notices to 1.16 lakh individuals and firms for cash deposit of over Rs 25 lakh

The tax department has combed as many as 18 lakh people who had deposited junked 500 and 1000 rupee currency notes of over Rs 2.5 lakh each post demonetisation.

Nov 28, 2017, 13:57 PM IST
Income Tax department conducts massive raids in Chennai

Income Tax department conducts massive raids in Chennai

Today's IT raids in Chennai are believed to be linked to jailed AIADMK leader VK Sasikala`s kin and business associates.

Nov 28, 2017, 10:56 AM IST

Fake CBI officer arrested with Rs 26 lakh at Hyderabad airport

A fake Central Bureau of Investigation (CBI) officer, M. Nageshwar Rao on Tuesday was arrested at Hyderabad`s Rajiv Gandhi International (RGI) airport, with net cash of Rs 26 lakh.

Nov 22, 2017, 11:30 AM IST
Panama Papers: I-T dept slaps criminal charges under anti-black money Act

Panama Papers: I-T dept slaps criminal charges under anti-black money Act

They said the department has detected undisclosed assets and stashed funds located in foreign countries in case of seven individuals and entities named in the leaks and the taxman has begun investigations against them under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015.

Nov 19, 2017, 16:31 PM IST

I-T dept seizes Rs 11 crore from entities in NSE co-location case

In the NSE co-location case, certain brokers, including Gupta's OPG Securities, operating on its trading platform allegedly got preferential access to servers of the exchange.

Nov 17, 2017, 18:20 PM IST
Demonetisation: I-T dept to issue notices to suspicious cash depositors

Demonetisation: I-T dept to issue notices to suspicious cash depositors

The people who have filed their returns will be examined against the amounts they have deposited during the period of demonetisation, so that we can see whether they have correctly disclosed their income or not, the CBDT chief said.

Nov 14, 2017, 20:08 PM IST
Raids carried out against BJP leaders' firms too: Union Minister rubbishes Opposition charges

Raids carried out against BJP leaders' firms too: Union Minister rubbishes Opposition charges

Union minister Pon Radhakrishnan today rejected some opposition leaders' charge that the Income Tax department was being used to target them, saying raids have been carried out against even companies owned by BJP leaders.

Nov 12, 2017, 16:34 PM IST

Income tax searches in premises linked to Sasikala continues for 2nd day

Some documents and cash have also been seized during the searches, an official told PTI.

Nov 11, 2017, 00:31 AM IST
All transactions were fully disclosed, says Jayant Sinha on Paradise Papers

All transactions were fully disclosed, says Jayant Sinha on Paradise Papers

The "Paradise Papers" are a set of 13.4 million leaked financial documents from law firm -- Appleby -- on investments of major multi-national corporations (MNCs) and that of well known individuals in India and abroad in tax havens.

Nov 06, 2017, 17:55 PM IST
Paradise Papers: Multi-agency group to probe disclosure against 714 Indians linked to tax havens

Paradise Papers: Multi-agency group to probe disclosure against 714 Indians linked to tax havens

The panel will first "go through" the details of income tax returns filed by the 714 Indian individuals and entities named in the 'Paradise Papers' and subsequently take action, in a case-to-case basis, the sources said.

Nov 06, 2017, 17:47 PM IST
Govt extends deadline for uploading audit reports of ITR to November 7

Govt extends deadline for uploading audit reports of ITR to November 7

Ministry of Finance had earlier extended the due-date for filing ITR and various reports of audit from 30th September, 2017 to 31st October, 2017.

Oct 31, 2017, 23:00 PM IST
I-T dept launches 'online chat' to answer taxpayers queries

I-T dept launches 'online chat' to answer taxpayers queries

A window has been hosted on the main page of the department's website -- www.Incometaxindia.Gov.In/ -- with a prominent icon stating 'Live Chat Online- ask your query'.

Oct 18, 2017, 13:48 PM IST

I-T dept recovers Rs 7 cr cash, 3kg gold in raid on JBM Group

JBM Group has 35 manufacturing plants and four engineering and design centres across 18 locations globally.

Oct 07, 2017, 21:16 PM IST
I-T raid properties of Jai Bharat Maruti; recovers Rs 6 crores and 3 kg gold

I-T raid properties of Jai Bharat Maruti; recovers Rs 6 crores and 3 kg gold

The Income Tax Department conducted raids in 60 locations, related to Jai Bharat Maruti Group, spread across Delhi-NCR and recovered cash to the tune of Rs seven crores and three kilograms of gold.

Oct 07, 2017, 13:33 PM IST

Karnataka Minister DK Shivakumar summoned by I-T Dept

Earlier this year in August, I-T sleuths raided DK Shivakumar`s various properties for three consecutive days for his alleged connection in tax evasion.

Oct 05, 2017, 13:41 PM IST
Hyderabad, Pune and Chennai top targets for Income Tax Department tax base growth

Hyderabad, Pune and Chennai top targets for Income Tax Department tax base growth

The Income Tax Department has been tasked to add 1.25 crore new return filers in the current financial year as part of the government's plan to widen the tax base in the country.

Sep 28, 2017, 17:40 PM IST
I-T dept asks taxpayers to update self info on e-filing portal

I-T dept asks taxpayers to update self info on e-filing portal

The department on Friday issued an advisory asking taxpayers to furnish their latest information such as personal and secondary email and mobile phone numbers, address and bank account details.

Sep 22, 2017, 15:03 PM IST
Tax dept seeks Rs 32,320 crore from Hutchison over Vodafone deal

Tax dept seeks Rs 32,320 crore from Hutchison over Vodafone deal

The Income Tax Department has slapped a Rs 32,320 crore demand in tax, interest and penalty on Hong Kong-based Hutchison for alleged capital gains it made on the USD 11 billion sale of its mobile business in India to UK's Vodafone Group in 2007.

Aug 29, 2017, 13:47 PM IST
I-T dept open to reducing withholding tax for companies

I-T dept open to reducing withholding tax for companies

The income tax department is open to lowering the withholding tax rate for foreign companies which have income in India, a senior official said on Wednesday.

 

Aug 23, 2017, 14:19 PM IST