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 2020The 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 2018The I-T department has also attached four assets of Nirav Modi worth Rs70 crore
1 min read28 Feb 2018Enforcement 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 2018Abhishek 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 2018The department of revenue directs assessing officers to dispose of pending appeals by 31 March
2 min read7 Feb 2018This 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 2017Leveraging 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 2017While the income tax department will investigate Indians in Paradise Papers for tax evasion, Sebi will be scrutinising disclosures
3 min read7 Nov 2017Income 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 2017The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared