Articles tagged under: Income Tax

Gujarat stands at No. 5 with Rs. 49,022 crore Direct Tax collection in 2018-19

July 10, 2019
Gujarat stands at No. 5 with Rs. 49,022 crore Direct Tax collection in 2018-19

New Delhi: In financial year 2018-19, the country’s total collection of Direct Taxes stood at Rs. 11,37,685.41 crore, in which Gujarat stood at No. 5 position with total Direct Tax collection of Rs. 49,021.69 crore. The States that preceded Gujarat are Maharashtra (Rs. 4,25,390.84 crore), Delhi (Rs. 1,66,405.42 crore), Karnataka (Rs. 1,19,796.51 crore) and Tamil Nadu (Rs. 74,238.94 crore). Union Minister of State for Finance Shri Anurag Thakur provided the information in Rajya Sabha on July 9,...Read More

Govt of India compulsorily retires 15 senior IRS officers with immediate effect

June 18, 2019
Govt of India compulsorily retires 15 senior IRS officers with immediate effect

New Delhi: In exercise of the powers conferred by Clause (j) of Rule 56 of the Fundamental Rules, the President of India has retired 15 officers of Indian Revenue Service (IRS)(C&CE) in public interest with immediate effect on completing 50 years of age. These Officers are of the rank of Principal Commissioner, Commissioner, Addl. Commissioner, Dy. Commissioner and Assistant Commissioner etc. All these 15 Officers will be paid a sum equivalent to the pay and allowances for a period of thr...Read More

Income Tax department statement on recent searches linked to Rs. 281 crore unaccounted cash

April 09, 2019
Income Tax department statement on recent searches linked to Rs. 281 crore unaccounted cash

New Delhi: Following is the statement of Income Tax department on recent searches in NCR, Bhopal, Indore and Goa: Brief highlights of the recent searches in NCR, Bhopal, Indore and Goa Based upon credible information of large scale collection, possession and movement of unaccounted assets, Delhi Directorate of Income Tax (Investigation) initiated search and seizure action on a group in NCR, Bhopal, Indore and Goa. More than 300 IT officials participated in the operation at about 52 loca...Read More

CBDT refutes Media Report

March 23, 2019
CBDT refutes Media Report

New Delhi: A search action under Section 132 of the Income-tax Act, 1961 was carried-out on Sh. D.K Shivakumar and Group of Cases on 2nd August, 2017 by the Income Tax Investigation Directorate of Karnataka & Goa. A large evidence of incriminating material against Shri D. K Shivakumar and his company were found. During the search, some loose papers were given to the raiding party. They were a xerox copy of Karnataka Legislative Assembly, Legislator’s Diary pages of 2009 with details of nume...Read More

Income Tax searches at premises of Ahmedabad based Kushal Tradelink

February 05, 2019
Income Tax searches at premises of Ahmedabad based Kushal Tradelink

Ahmedabad: Income Tax sleuths are conducting search at around dozen premises of Ahmedabad-based Kushal Tradelink in the city and across Gujarat. DeshGujaratRead More

IT survey at 17 premises of Ahmedabad based Sankalp group

October 30, 2018
IT survey at 17 premises of Ahmedabad based Sankalp group

Ahmedabad: Income Tax(IT) department teams have in a major pre-Diwali operation, conducted survey at 17 premises of Sankalp group in Ahmedabad including Ramada hotel which is owned by Sankalp group. As many as 50 IT staffers are believed part of the teams involved in this operation. Income Tax department has suspected significant gap between the income and the tax paid by Sankalp group. DeshGujaratRead More

IT searches premises of construction and finance firms in Rajkot

September 26, 2018
IT searches premises of construction and finance firms in Rajkot

Rajkot:Nearly 150 IT sleuths of Income Tax department searched around 44 business and residential premises of three Rajkot based construction firms and a finance firm today. The searches were being carried at the premises of Decora group,Ladani Group and a finance firm.Read More

IT raids at 6 locations of entry operators in Ahmedabad; Rs 19 crore cash found

September 11, 2018
IT raids at 6 locations of entry operators in Ahmedabad; Rs 19 crore cash found

Ahmedabad: The income tax department has today raided 6 locations connected to Jignesh Shah and Sanjay Shah in Ahmedabad and seized around Rs 19.3 crore suspected black money along with 18 demat accounts. Black money holders take the help of ‘entry operators’ to launder large amounts of unaccounted cash through banking channels. These entry operators are chartered accountants or middlemen who launder money on behalf of clients by operating multiple bank accounts. These intermediaries pro...Read More

Extension of due date for filing of Income Tax Returns

July 26, 2018
Extension of due date for filing of Income Tax Returns

New Delhi: The due date for filing of Income Tax Returns for Assessment Year 2018-19 is 31.07.2018 for certain categories of taxpayers. Upon consideration of the matter, the Central Board of Direct Taxes(CBDT) extends the ‘due date’ for filing of Income Tax Returns from 31st July, 2018 to 31st August, 2018 in respect of the said categories of taxpayers. PIBRead More

IT survey/raids conducted at sites/offices/premises of various construction/real estate firms in Gujarat

March 06, 2018
IT survey/raids conducted at sites/offices/premises of various construction/real estate firms in Gujarat

Ahmedabad: Income tax department today conducted raids at over 40 places related with various firms mainly construction and real estate companies in Gujarat in cities including Ahmedabad and Vadodara. As per primary reports the raids/survey on various offices and other premises/sites of the companies were also conducted at the central Gujarat town of Anand. Among the companies whose offices and other premises etc were surveyed/raided by the IT teams included Ahmedabad...Read More