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High-Value Cash Transactions At Hotels, Hospitals Come Under Income Tax Scrutiny
Rampant cash transactions in business sectors like hotels, luxury brand sales, hospitals and IVF clinics need to be checked in a "non-intrusive" manner, the CBDT has asked the I-T department.
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Making Exaggerated Claims To Get Refunds Punishable Offence: Tax Department
The I-T Department has asked income tax return filers to not make bogus claims for expenses, under-report their earnings or exaggerate deductions as this is a punishable offence and causes a delay in issuance of refunds.
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Akshay Kumar Reacts As His Martial Arts' Trainees Get Jobs In I-T Department: "So Emotional, So Proud"
"I'm immensely happy," Akshay wrote in his post
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Link PAN With Aadhaar Card Before May 31: Income Tax Department To Taxpayers
The I-T department noted that if a taxpayer fails to link the PAN with Aadhaar Card then it will lead to tax deduction at a higher rate.
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Income Tax Department On "Chopper Searched" Charge By Trinamool Leader
As a row erupted over the TMC's claim of a "raid" by income tax officials targeting a helicopter used by Abhishek Banerjee, I-T department sources claimed on Sunday that there was no enforcement action such as search or survey.
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Rs 290 Crore And Still Counting Among India's Biggest Cash Recoveries
In what is likely India's biggest cash recovery in income tax raids, at least Rs 290 crore in hard cash has been recovered so far during raids in three states since yesterday.
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BJP Demands CBI Probe Into Recovery Of Rs 94 Crore In Cash During Raids
The Karnataka BJP on Tuesday staged a demonstration here demanding a CBI investigation into the recovery of huge amounts of cash in the recent I-T raids in Karnataka and some other states.
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Man, Asked To Pay Rs 113 Crore In Tax, Says He Earns Rs 53,000 A Month
A resident of Bhind in Madhya Pradesh with a monthly income of Rs 53,000 got a demand notice from income tax (I-T) department to cough up Rs 113.83 crore for alleged transactions of Rs 132 crore in his account in 2011-12.
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BJP Leaders Praised BBC When It Suited Them, Claims Asaduddin Owaisi
AIMIM president Asaduddin Owaisi on Wednesday attacked the central government over the I-T department's survey operation at BBC offices.
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Tax Surveys At BBC Offices "Continuation Of A Trend Of...": Editors Guild
"The survey by the I-T department is in continuation of a trend of using government agencies to intimidate and harass press organisations that are critical of government policies or the ruling establishment," the Guild said in a statement here.
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Assets Worth Rs 390 Crore Seized In Tax Raids In Maharashtra's Jalna
Benami property or unaccounted assets worth Rs 390 crore was seized by the Income Tax Department during raids at multiplelocationslinked to some businessmen in Maharashtra's Jalna, officials have said
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What You Need to Know About Crypto, NFT Laws in India
The Income Tax Department has come out with detailed disclosure requirements for TDS deductions for virtual digital assets, under which date of transfer and mode of payment will have to be specified. The 2022-23 Budget has brought in clarity with regard to levy of income tax on crypto assets. From April 1, a 30 percent I-T plus cess and surcharges,...
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IT Department Notifies TDS Disclosure Requirements for Crypto, Virtual Digital Assets
The income tax department has announcement TDS disclosure requirements for cryptocurrency, virtual digital assets. From July 1, 1 percent TDS will be charged on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year.
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More Than Rs. 800 Crore Siphoned Off By Auto Manufacturer; I-T Dept. Alludes To Hero MotoCorp In Press Release
While the I-T department did not directly name Hero MotoCorp, news reports claim sources within the agency that the release alludes to India's largest two-wheeler maker.
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Not Raid But "Routine Inquiry," Hero MotoCorp Clarifies Income Tax Department Visits
In its statement, Hero said that the I-T department visit was part of a "routine inquiry" and isn't uncommon before the end of the financial year.
-
High-Value Cash Transactions At Hotels, Hospitals Come Under Income Tax Scrutiny
Rampant cash transactions in business sectors like hotels, luxury brand sales, hospitals and IVF clinics need to be checked in a "non-intrusive" manner, the CBDT has asked the I-T department.
-
Making Exaggerated Claims To Get Refunds Punishable Offence: Tax Department
The I-T Department has asked income tax return filers to not make bogus claims for expenses, under-report their earnings or exaggerate deductions as this is a punishable offence and causes a delay in issuance of refunds.
-
Akshay Kumar Reacts As His Martial Arts' Trainees Get Jobs In I-T Department: "So Emotional, So Proud"
"I'm immensely happy," Akshay wrote in his post
-
Link PAN With Aadhaar Card Before May 31: Income Tax Department To Taxpayers
The I-T department noted that if a taxpayer fails to link the PAN with Aadhaar Card then it will lead to tax deduction at a higher rate.
-
Income Tax Department On "Chopper Searched" Charge By Trinamool Leader
As a row erupted over the TMC's claim of a "raid" by income tax officials targeting a helicopter used by Abhishek Banerjee, I-T department sources claimed on Sunday that there was no enforcement action such as search or survey.
-
Rs 290 Crore And Still Counting Among India's Biggest Cash Recoveries
In what is likely India's biggest cash recovery in income tax raids, at least Rs 290 crore in hard cash has been recovered so far during raids in three states since yesterday.
-
BJP Demands CBI Probe Into Recovery Of Rs 94 Crore In Cash During Raids
The Karnataka BJP on Tuesday staged a demonstration here demanding a CBI investigation into the recovery of huge amounts of cash in the recent I-T raids in Karnataka and some other states.
-
Man, Asked To Pay Rs 113 Crore In Tax, Says He Earns Rs 53,000 A Month
A resident of Bhind in Madhya Pradesh with a monthly income of Rs 53,000 got a demand notice from income tax (I-T) department to cough up Rs 113.83 crore for alleged transactions of Rs 132 crore in his account in 2011-12.
-
BJP Leaders Praised BBC When It Suited Them, Claims Asaduddin Owaisi
AIMIM president Asaduddin Owaisi on Wednesday attacked the central government over the I-T department's survey operation at BBC offices.
-
Tax Surveys At BBC Offices "Continuation Of A Trend Of...": Editors Guild
"The survey by the I-T department is in continuation of a trend of using government agencies to intimidate and harass press organisations that are critical of government policies or the ruling establishment," the Guild said in a statement here.
-
Assets Worth Rs 390 Crore Seized In Tax Raids In Maharashtra's Jalna
Benami property or unaccounted assets worth Rs 390 crore was seized by the Income Tax Department during raids at multiplelocationslinked to some businessmen in Maharashtra's Jalna, officials have said
-
What You Need to Know About Crypto, NFT Laws in India
The Income Tax Department has come out with detailed disclosure requirements for TDS deductions for virtual digital assets, under which date of transfer and mode of payment will have to be specified. The 2022-23 Budget has brought in clarity with regard to levy of income tax on crypto assets. From April 1, a 30 percent I-T plus cess and surcharges,...
-
IT Department Notifies TDS Disclosure Requirements for Crypto, Virtual Digital Assets
The income tax department has announcement TDS disclosure requirements for cryptocurrency, virtual digital assets. From July 1, 1 percent TDS will be charged on payments towards virtual digital assets or cryptocurrencies beyond Rs 10,000 in a year.
-
More Than Rs. 800 Crore Siphoned Off By Auto Manufacturer; I-T Dept. Alludes To Hero MotoCorp In Press Release
While the I-T department did not directly name Hero MotoCorp, news reports claim sources within the agency that the release alludes to India's largest two-wheeler maker.
-
Not Raid But "Routine Inquiry," Hero MotoCorp Clarifies Income Tax Department Visits
In its statement, Hero said that the I-T department visit was part of a "routine inquiry" and isn't uncommon before the end of the financial year.
