India News | Reported by Noopur Tiwari, Edited by Anindita Sanyal | Monday February 23, 2015
British banking giant HSBC today said it has been served summons by the Indian tax authorities. The bank also admitted that it was being probed by tax authorities in many other countries regarding alleged irregularities by its Swiss banking unit.
India News | Press Trust of India | Monday February 16, 2015
The Income Tax department is expected to file a complaint against HSBC bank, Geneva, for allegedly "abetting" tax evasion in India by way of unauthorisedly operating accounts of its citizens in its overseas branch.
Wednesday February 11, 2015
The issue of levying MAT on FPIs cropped up with the Income Tax department issuing notices to certain FPIs asking them why they should not be subjected to MAT.
Sunday February 8, 2015
Cracking its whip on entities using stock markets for evading taxes and laundering black money, the Securities and Exchange Board of India (Sebi) has decided to suspend trading in listed companies that are found to be used by such manipulators.
Monday February 2, 2015
The Budget for 2015-16 may contain provisions relating to the Global Base Erosion and Profit Shifting (BEPS) rules, which are aimed at collecting a fair share of taxes from multinationals operating in different tax jurisdictions, a source said.
Wednesday January 28, 2015
The government's decision to not appeal against a high court order in the Vodafone tax case will help in correcting perception about the Income Tax Department and lift global investors' sentiment, industry said on Wednesday.
Chennai News | Press Trust of India | Sunday January 11, 2015
A Joint Commissioner of Income Tax Department and a Chartered Accountant were today arrested here by CBI on charges of receiving and offering a bribe of Rs eight lakh respectively for an official favour.
South | Press Trust of India | Thursday January 8, 2015
In a relief to AIADMK supremo J Jayalalithaa, a Chennai court today discharged her from an 18-year old income tax return case, allowing withdrawal of prosecution by the I-T department consequent to acceptance of her compounding pleas by it.
Sunday January 4, 2015
Check details about your new tax assessment range if you are going to file income tax returns, apply for refunds or conduct any I-T related business in future.
Tuesday December 23, 2014
With four of its promoter family members including two top executives facing Securities and Exchange Board of India action, Bhushan Steel on Tuesday claimed it would not have any bearing on its operations and the concerned individuals would take nece...
Monday December 22, 2014
In fresh troubles for crisis-hit Bhushan Steel, four members of its promoter family including chairman as well as managing director figure among 260 entities barred by the Securities and Exchange Board of India (Sebi) for suspected money laundering a...
Friday December 19, 2014
According to the EPFO's income projection, payment of 8.8 per cent rate of interest would have left a surplus of Rs 77.15 crore. But since the income projection of Rs 29,136.42 crore for the current fiscal was done without factoring in interest payme...
Wednesday December 17, 2014
Looking to sell its plant near here, Nokia on Tuesday sought lifting of an asset freeze imposed by the Income Tax Department in the wake of a tax dispute, saying it is being approached by several prospective buyers.
India News | Press Trust of India | Friday December 12, 2014
In its first major disclosure about money held in Swiss banks, the government today said Rs 4,479 crore is held in the accounts owned by Indians, who figured on the HSBC List, and the Income Tax Department has initiated action against 79 of such acco...
Thursday December 11, 2014
The government on Wednesday approved the revised project cost and extension of contract for the Centralized Processing Centre of the Income Tax Department at Bengaluru to Infosys by two years up to September 2017.
Sunday December 7, 2014
To keep a tab on funds flowing through charitable trusts, the government plans to make it mandatory for such entities to provide their Permanent Account Number (PAN) prior to registration.
South | Press Trust of India | Monday December 1, 2014
AIADMK supremo J Jayalalithaa and her aide Sasikala Natarajan pay compounding fee and settle with Income Tax Department to get relief from 18-year-old case.
Wednesday November 26, 2014
Industry body Ficci has welcomed Attorney General Mukul Rohatgi asking the Income Tax Department to not file an appeal against the Bombay High Court judgment in the transfer pricing case of Vodafone.
Monday November 24, 2014
Sources said the department made one of its highest seizures which also includes jewellery worth Rs 1 crore.
Saturday November 22, 2014
Sources said the searches were launched by the taxmen at at least three locations of the group, one in Delhi and two in the national capital region, as part of its "tax related demands" against the business group.
South | Press Trust of India | Friday November 14, 2014
An illegal money transfer racket was busted by police today with the detention of four persons, including two senior officials of a Chhattisgarh-based engineering firm, and Rs 2 crore was seized from them.
Sunday November 2, 2014
As part of its efforts to boost revenue collection, the Central Board of Direct Taxes (CBDT) has asked the Income Tax Department to monitor cases of over five lakh taxpayers who have not filed their latest tax returns.
Wednesday October 29, 2014
The Reserve Bank of India (RBI) has allowed all urban cooperative banks (UCBs) to act as PAN service agents.
Indo-Asian News Service | Monday October 13, 2014
The new email system is for "secure communication within the department and will ensure that no confidential information or data is stolen".