Northeast bypolls: I-T teams to check on black money

The Income Tax (I-T) department will deploy teams in Assam, Tripura and Sikkim to keep a tab on the use of black money during the Sep 13 assembly by-polls, an official release said here Tuesday.

More tax concessions when economy improves: Finance Minister

Finance Minister Arun Jaitley today promised more concessions in income tax when the economy improves.

Sonia Gandhi says I-T notice in National Herald case a political witch-hunt

Congress president Sonia Gandhi confirmed that her party has been served notices by the Income Tax department in a case that alleges she and other party leaders misappropriated funds of a company that used to publish the now-defunct National Herald newspaper.

SC gives CBI three-month deadline to get details on NGOs I-T returns

The Supreme Court on Tuesday granted three months time to the Central Investigation Bureau (CBI) to provide information related to filing of Income Tax returns by the NGOs registered in the country.

Ensure better services to encourage people to pay taxes: Naidu

Urban Development minister M Venkaiah Naidu on Thursday said that Urban local bodies should be made viable and use taxes collected from the people to ensure quality services.

National Herald land grab case: I-T dept may issue notice to Congress

Days after a local court summoned Congress president Sonia Gandhi and her son and party vice president Rahul Gandhi in connection with the National Herald land grab case, media reports on Wednesday said that the Income Tax department may soon issue a notice to the grand old party.

Income Tax dept issues notice to Chief Election Commissioner VS Sampath

The Income Tax department has issued a notice to Chief Election Commissioner (CEC) V S Sampath in connection with the sale of a property in Hyderabad and acquiring a new residential property in Delhi with that money.

NCP under I-T scanner over Rs 34 crore cash deposits

The Maharashtra unit of the Nationalist Congress Party has come under the scanner of the Income-Tax department after it recently detected cash deposits of over Rs 34 crore in the party`s account without depositor details like PAN card.

Rs 10.85 crores unaccounted-for cash seized in poll season in Mumbai

The Income Tax Department on Thursday took possession of unaccounted cash of Rs 10 lakh belonging to IY Construction, taking the total amount seized by the tax authorities in the metropolis since the Model Code of Conduct for elections came into force to Rs 10.85 crore.

IT helpline on movement of large cash fails to make impact

The control room set up by Income Tax Department to enable citizens to report suspicious transactions or movement of large sums of money has evoked lukewarm response, and in one particular instance the facility was used out of personal enmity.

Jayalalithaa gets two weeks reprieve in I-T case

Tamil Nadu Chief Minister J Jayalalithaa got two weeks reprieve in the Income Tax cases against her as a local court adjourned the hearing till April 28 while ordering her to be present in person then.

EC appreciates IT crackdown on black money in Bihar, Jharkhand

The Election Commission has complimented the Income Tax department in Bihar and Jharkhand for launching crackdown on black money and unaccounted cash for use in polls.

Madhu Koda`s house searched by IT

Former Jharkhand chief minister Madhu Koda`s residence was today searched by a team of Income Tax officials in West Singhbhum district head-quarters town of Chaibasa.

DEC keen to curb flow of black money

To curb flow of black money in run up to Lok Sabha polls, Delhi Election Commission directed Income Tax department to keep vigil on movement of cash exceeding Rs 10 lakh through city airports.

CBI court convicts two for Income Tax fraud, corruption

CBI court in Madurai convicted Income Tax Officer of Dindigul for causing loss of Rs 22.16 lakh to government and sentenced them to undergo 2 years rigorous imprisonment with total fine of Rs 30,000.

New PAN allotment norms put on hold; old procedure to continue

New norms for issuing of PAN (Permanent Account Number) cards have been put on hold by the Finance Ministry.

CBI arrests Joint Commissioner Income Tax in graft case

CBI on Thursday arrested a joint commissioner Income Tax posted at Thane for allegedly accepting a bribe of Rs 3.5 lakh from a businessman to bail him out in a tax evasion case.

BJP to consider proposal of abolishing taxes

Nitin Gadkari said his party, if it comes to power, will consider a proposal of abolishing a host of taxes.

Sinha disagrees with Gadkari on income tax abolition

Former Finance Minister Yashwant Sinha on Wednesday disagreed with his party`s former president Nitin Gadkari`s views on abolition of income and other taxes, saying it would amount to going back to Vedic days.

BJP favours abolition of income, sales, excise tax

BJP on Wednesday favoured abolition of income, sales and excise tax and the party may include it in its vision document to be unveiled ahead of General elections next year.