Rs. 11 cr 48 lakh seized from vellore IT Raid The Income Tax Department has said that the amount seized from Cement factory in Vellore . This was followed by the Income Tax Department at DMK Treasurer Duraimurugan. Money was seized from the cement factory owned by DMK leader Srinivasan in Vellore district. After the…
Income Tax Raid at Vels Educational institutional Chennai: The Income Tax Department has been conducting a trial of 30 cases relating to the Vels Educational institutional offices due to tax evasion and black money transaction. Income Tax officials are engaged in the process of finding taxes from individuals who do not…
Income Tax Raid in Malabar Gold jewelry In the Malabar Gold and Diamonds jewelry store located in Coimbatore, the Income Tax Department is conducting raid Today. The Malabar Gold and Diamonds jewelry store, which runs on a hundred feet, has received information from the Income Tax department that tax evasion was not…
Top court ordered Bank account not mandatory? The Supreme Court on Wednesday allowed linking of Aadhaar with PAN or Permanent Account Number, which is mandatory for filing of income tax return (ITR).The top court, however, ruled that it is not mandatory to link bank accounts with the 12-digit personal identification…
As the 50-days of demonetisation exercise ends on Friday, over Rs 4,313 crore of stashed cash has been detected till Thursday by the Income Tax (I-T) Department under the Finance Ministry. Post-demonetisation since November 8 decision to withdraw high-denomination currency notes of Rs 500 and Rs 1,000, the I-T…
The Income Tax Department through its Non-filers Monitoring System was initiated by CBDT has identified 67.54 lakh people who did not file their returns in 2014-15 despite carrying out high-value transactions that year. “The Income Tax Department has conducted the fifth cycle of data matching which has identified an…
The Income Department claims it has seized over Rs 3,185 crore of undisclosed income has been detected while Rs 86 crore worth new notes have been seized as part of its country-wide operations against black money hoarders post the demonetisation of two high value currencies by the government, PTI reported on…
A whopping Rs. 152 crore unaccounted income, including a huge stash of new notes, bullion, jewellery, and documents pertaining to property ownership, have been seized on the premises of two chief engineers of the PWD and contractors, by the I-T officials over the last three days. “Based on the property documents and…
The Income Tax Department has begun to send notices to those who made deposits at banks that exceeded Rs 2.5 lakh. Hundreds of notices seeking the source of the money were issued after banks reported cases of “unusual or suspicious volumes of cash deposits” since the Centre’s decision to demonetise Rs 500 and…