IT department
Due to the introduction of e-governance, transparency has increased and the IT department has got more visibility into the assets of the companies. The tax department has drawn up a detailed game plan and is expected to look at various new avenues to collect taxes. Due to the sluggish economy, the income of the tax [...] Continue Reading »
The India cricket team captain Mahendra Singh Dhoni may face problem now in an income tax investigation. The tax department is looking to investigate the issue of four post-dated cheques worth Rs 75 crore issued by Amrapali Group. Chairman Anil Sharma to Dhoni The cheque issued in year 2011-12, was to be encashed in 2014. [...] Continue Reading »
The income tax department conducted the raid on the residence of real estate businessman G Amarender Reddy. During the raid the IT department seized incriminating documents related to the huge cash transactions outside the books. Mr. Amarender Reddy is a close friend of former chief minister N Kiran Kumar Reddy. Mr. Reddy is the chairman [...] Continue Reading »
The IT department has turned red eye on the farmers and the real estate developers in Surat and other parts of south Gujarat region. In last two days, the department has issued notices to nearly 400 farmers and real estate developers asking them to submit issued amount on the sale of agriculture land within two [...] Continue Reading »
Surat- The Income Tax department wing of Surat conducted a raid on six renowned real estate developers and two civil advocates in the city. The department recovered assets worth Rs 92 crore in the search. The income tax sleuths have recovered Rs 8 lakh in cash and Rs 45 lakh worth of jewellery from bank [...] Continue Reading »
A 100 acre land which was allotted to TCS is to be given to IT department. The land was located at the super corridor of Indore. Indore Development Authourity (IDA), who had acquired the land for the renowned organisation had been instructed by state government to hand it over to the department. However, a meeting [...] Continue Reading »
According to the new guidelines brought out by the Central Board of Direct Taxes (CBDT), the unique Document identification number (DIN) will be mandatory “in respect of every notice, order, letter or any correspondence” with the department, by the taxpayers. The government has made it mandatory for taxpayers as well as collectors to quote a [...] Continue Reading »
