I T Dept News

News

Income Tax dept searches hotelier, jeweller in Jammu and Kashmir

Officials say various incriminating documents and materials evidencing unexplained investments in immovable properties, construction of hotels and residences aggregating to ₹25 crores in the last six financial years have been seized during the search

4 min read17 Sep 2020
Politics

I-T dept allows manual filing by resident, NRI taxpayers for nil/lower TDS certificate

The Income Tax Act, 1961, provides that if a taxpayer considers that his total income warrants deduction of income tax at lower/ nil rate, he may apply to the assessing officer (AO) requesting for lower withholding certificate

1 min read25 Dec 2018
Companies

I-T dept issues look out circulars against Nirav Modi, Mehul Choksi

The I-T department has also attached four assets of Nirav Modi worth Rs70 crore

1 min read28 Feb 2018
Companies

PNB fraud: CBI quizzes former MD Usha Ananthasubramanian, other bank officials

Enforcement Directorate and income tax department have moved court separately, seeking a non-bailable warrant against Nirav Modi, the man at the centre of the PNB fraud

2 min read28 Feb 2018
Politics

Nirav Modi scam: I-T notice to Abhishek Singhvi’s wife for purchasing jewellery in cash

Abhishek Singhvi denies any wrongdoing by himself, his wife or any of their companies, and says that all transactions were properly accounted for

1 min read21 Feb 2018
Politics

‘Angel tax’: Income tax dept stays recovery proceedings against start-ups

The department of revenue directs assessing officers to dispose of pending appeals by 31 March

2 min read7 Feb 2018
Politics

Aadhaar-PAN linking deadline extended to 31 March 2018

This is the third time the income tax department has extended the Aadhaar-PAN linking deadline since the first one of 31 July 2017

1 min read9 Dec 2017
Industry

A year into demonetisation, big data new weapon in fight against black money

Leveraging reams of data generated after demonetisation has served the income tax department well in making its search and enforcement operations more precise

4 min read7 Nov 2017
Companies

Sebi, income tax dept to probe Indians named in Paradise Papers

While the income tax department will investigate Indians in Paradise Papers for tax evasion, Sebi will be scrutinising disclosures

3 min read7 Nov 2017
Politics

Tax department unearths 400 benami deals, attaches assets worth Rs600 crore

Income tax department provisionally attaches assets worth Rs600 crore in 240 benami deals since last November under the Prohibition of Benami Property Transactions Act

1 min read24 May 2017
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