Page 8 - Income-tax Department

Big Data can at times spell trouble for taxpayers

The tax department's initiatives would, in the normal course, have been welcomed by honest taxpayers, but implementation issues and the taxman's misaligned views are causing problems

Mukesh Ambani family case: I-T department concludes tax proceedings

Assessment order passed under section 10(3) of Black Money Act

Hero MotoCorp tax case: I-T finds Rs 800 cr siphoned off via shell firms

The department also found that 10 acres of farm land in Delhi was purchased through a few paper companies

I-T department detects Rs 1K-cr 'bogus' expenses at Hero MotoCorp

The findings are learnt to be part of the tax department's initial probe into a possible tax evasion by the two-wheeler giant

I-T notice to former PM Deve Gowda's wife Channamma, says son Revanna

He even asked the I-T officials to see for themselves how they were growing crops in each acre of land

I-T dept issues refunds of over Rs 1.93 trillion so far in FY22

This includes 1.85 crore refunds of 2020-21, AY2021-22, amounting to Rs 38,447.27 crore

Hero MotoCorp says visit by income tax officials was 'routine'

Offices and residential premises of the company including that of chairman and CEO of the group, Pawan Munjal, located in Gurugram, Delhi and few other locations were covered

Income tax department searches 24 premises of Hiranandani group

Last week, several premises linked to Omaxe were searched by the department for allegedly indulging in "unaccounted" cash transactions with customers of around Rs 3,000 crore.

I-T dept says found Rs 224-cr black income at Maharashtra-based unicorn

The Income Tax department has detected undisclosed income of about Rs 224 crore after it recently raided a unicorn start-up group based in Pune and Thane in Maharashtra, the CBDT said on Sunday

Working to improve tax literacy for widening taxpayer net: CBDT chairman

Income Tax department is working to improve abysmally poor tax literacy in India so that the number of tax paying people, entities can be increased leading to enhanced collections, J B Mohapatra said

I-T Dept reforms, stronger economy led to record tax collections: CBDT

Reforms undertaken within the Income Tax department and the "strengthening" of the economy are among the major factors that led to the highest-ever direct tax collections, CBDT Chairman said.

Land deal between Maha politician and Mumbai cable operator under I-T radar

The Income Tax department is probing a land deal between a "politician" of Maharashtra and a Mumbai-based cable operator as part of a tax evasion investigation against them and others, the CBDT said

Income tax dept issues refunds of over Rs 1.92 trillion till March 15

The income tax department on Wednesday said income tax refunds worth over Rs 1.92 trillion have been issued to more than 2.24 crore taxpayers so far this fiscal.

I-T dept offices to open on all Saturdays in March after FM's rap

Currently, Saturdays and Sundays are off days for I-T department employees

Income tax refunds of over Rs 1.83 trn issued so far this fiscal: I-T Dept

"CBDT issues refunds of over Rs 1,83,579 crore to more than 2.09 crore taxpayers from 1st Apr, 2021 to 28th Feb, 2022," the I-T department tweeted

I-T recovers Rs 2 Cr from Shiv Sena leader's residence in Mumbai

The Income Tax (I-T) Department has seized around Rs 2 crore from the premises of family and associates of Shiv Sena corporator and Standing Committee chairperson of BMC, Yashwant Jadhav during raids.

Income Tax Department cautions public against fraudulent job offers

Cautioning public against falling prey to fraudulent job offers, the I-T Department said aspirants should only consider offers or advertisements on official websites of SSC or the department.

High court quashes Rs 684 cr tax demand notice against co, says CG Power

CG Power and Industrial Solutions on Monday said that the Bombay High Court has quashed an assessment order of Rs 684.08 crore against the company issued by the I-T department.

I-T dept raids former NSE MD Chitra Ramkrishna in tax evasion probe

Ramkrishna hit the headlines after a recent Sebi order said she was steered by a yogi, dwelling in the Himalayan ranges

Top headlines: IDBI Bank privatisation on track; I-T searches on Huawei

Here are the top headlines on Wednesday