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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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Cash Sales Of Rs 1,000 Crore Found In Raids On Electrical Items Manufacturer
The Income Tax department initiated search and seizure operations in the case of a group engaged in the manufacturing of wires, cables and other electrical items on December 22, 2023, the agency said in a statement on Wednesday.
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Income Tax Searches Premises Of Liquor Maker Som Group In 5 States
The Income-tax department on Tuesday launched multi-state searches against the Som Group, a prominent player in the liquor manufacturing and sale field, as part of a tax evasion investigation, official sources said.
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Tax Officer Tries To Extort Rs 15 Lakh From Judge In Nagpur, Case Filed
An inspector with the state sales tax department allegedly threatened and attempted to extort Rs 15 lakh from a judge of the Goods and Services Tax (GST) tribunal in Maharashtra's Nagpur, police said on Sunday.
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New Cryptocurrency Tax Reporting Rule Proposed in US for Sales, Exchanges of Digital Assets
Cryptocurrency brokers, including exchanges and payment processors, would have to report new information on users' sales and exchanges of digital assets to the Internal Revenue Service (IRS) under a proposed US Treasury Department rule published on Friday. The rule is part of a broader push by Congress and regulatory authorities to crack down on c...
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Tamil Nadu Store Underreported 1,000 Crore Sales In Evasion Bid: Tax Body
A popular store chain in Tamil Nadu underreported sales worth more than 1,000 crore in order to evade tax, the Income Tax department said today.
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Rs 335 Crore Black Money Found After Raids On Pune Tobacco Group
The Income Tax Department has detected about Rs 335 crore undisclosed income after it raided a Pune-based business group engaged in packaging and sale of tobacco products and related items, the Central Board of Direct Taxes said on Monday.
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Rs 13 Crore GST Fraud Unearthed In Noida, Officials Yet To Make Arrests
The Uttar Pradesh Special Task Force (STF) and the sales tax department have unearthed a Rs 13 crore tax fraud case involving two subsidiaries of a company which carried out the embezzlement by means of bogus invoicing, officials said Saturday.
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Vijay Mallya's Shares In Stud Farm Put On Sale, Tax Officials Warn People
The Income Tax Department on Thursday cautioned the public against buying over 41 lakh equity shares of fugitive tycoon Vijay Mallya's company that the Debt Recovery Tribunal-II has put up for sale through e-auction on October 30, an official said.
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Alert Issued Against Fake Messages Luring People Of IT Department Refunds
The country's premier cyber security agency - CERT-In - has cautioned against a malicious 'SMShing' fraud where fake messages are being sent to people in the name of the Income Tax Department saying their refunds have been approved, with an aim to steal the recipient's vital personal details and put them on the dark net "for sale".
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Goa Mulls Levying Fee On Trucks Carrying Fish Outside State
In a bid to ensure better availability of good quality fish in the local markets, the Goa government is mulling to impose tax on the trucks carrying fish for sale outside the state.
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Sold Properties To Buy A New House? Income Tax Ruling You Need To Know
Section 54F of Income Tax Act deals with exemption on long-term capital gains arising from sale of capital assets like plot of land and commercial house property.
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No GST On Used Car Sold By Individual
The Revenue Department today clarified that sale of old jewellery as well as old vehicles by individuals will not attract any GST as the sale is not for furthering any business.
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No GST On Sale Of Old Jewellery, Cars By Individuals
The Revenue Department today clarified that sale of old jewellery as well as old vehicles by individuals will not attract any GST
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Mumbai's 'Vikrikar Bhavan' Renamed As GST Bhavan
'Vikrikar Bhavan' is the headquarters of Maharashtra government's erstwhile Sales Tax department which has been renamed as 'GST Bhavan.
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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.
-
Cash Sales Of Rs 1,000 Crore Found In Raids On Electrical Items Manufacturer
The Income Tax department initiated search and seizure operations in the case of a group engaged in the manufacturing of wires, cables and other electrical items on December 22, 2023, the agency said in a statement on Wednesday.
-
Income Tax Searches Premises Of Liquor Maker Som Group In 5 States
The Income-tax department on Tuesday launched multi-state searches against the Som Group, a prominent player in the liquor manufacturing and sale field, as part of a tax evasion investigation, official sources said.
-
Tax Officer Tries To Extort Rs 15 Lakh From Judge In Nagpur, Case Filed
An inspector with the state sales tax department allegedly threatened and attempted to extort Rs 15 lakh from a judge of the Goods and Services Tax (GST) tribunal in Maharashtra's Nagpur, police said on Sunday.
-
New Cryptocurrency Tax Reporting Rule Proposed in US for Sales, Exchanges of Digital Assets
Cryptocurrency brokers, including exchanges and payment processors, would have to report new information on users' sales and exchanges of digital assets to the Internal Revenue Service (IRS) under a proposed US Treasury Department rule published on Friday. The rule is part of a broader push by Congress and regulatory authorities to crack down on c...
-
Tamil Nadu Store Underreported 1,000 Crore Sales In Evasion Bid: Tax Body
A popular store chain in Tamil Nadu underreported sales worth more than 1,000 crore in order to evade tax, the Income Tax department said today.
-
Rs 335 Crore Black Money Found After Raids On Pune Tobacco Group
The Income Tax Department has detected about Rs 335 crore undisclosed income after it raided a Pune-based business group engaged in packaging and sale of tobacco products and related items, the Central Board of Direct Taxes said on Monday.
-
Rs 13 Crore GST Fraud Unearthed In Noida, Officials Yet To Make Arrests
The Uttar Pradesh Special Task Force (STF) and the sales tax department have unearthed a Rs 13 crore tax fraud case involving two subsidiaries of a company which carried out the embezzlement by means of bogus invoicing, officials said Saturday.
-
Vijay Mallya's Shares In Stud Farm Put On Sale, Tax Officials Warn People
The Income Tax Department on Thursday cautioned the public against buying over 41 lakh equity shares of fugitive tycoon Vijay Mallya's company that the Debt Recovery Tribunal-II has put up for sale through e-auction on October 30, an official said.
-
Alert Issued Against Fake Messages Luring People Of IT Department Refunds
The country's premier cyber security agency - CERT-In - has cautioned against a malicious 'SMShing' fraud where fake messages are being sent to people in the name of the Income Tax Department saying their refunds have been approved, with an aim to steal the recipient's vital personal details and put them on the dark net "for sale".
-
Goa Mulls Levying Fee On Trucks Carrying Fish Outside State
In a bid to ensure better availability of good quality fish in the local markets, the Goa government is mulling to impose tax on the trucks carrying fish for sale outside the state.
-
Sold Properties To Buy A New House? Income Tax Ruling You Need To Know
Section 54F of Income Tax Act deals with exemption on long-term capital gains arising from sale of capital assets like plot of land and commercial house property.
-
No GST On Used Car Sold By Individual
The Revenue Department today clarified that sale of old jewellery as well as old vehicles by individuals will not attract any GST as the sale is not for furthering any business.
-
No GST On Sale Of Old Jewellery, Cars By Individuals
The Revenue Department today clarified that sale of old jewellery as well as old vehicles by individuals will not attract any GST
-
Mumbai's 'Vikrikar Bhavan' Renamed As GST Bhavan
'Vikrikar Bhavan' is the headquarters of Maharashtra government's erstwhile Sales Tax department which has been renamed as 'GST Bhavan.
