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Jaya TV Channel in web of 187 tax raids

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Jaya TV Channel in web of 187 tax raids

Chennai, Nov 9: (PTI) Income Tax sleuths  carried out simultaneous multi-city raids on 187 premises including those linked to sidelined AIADMK leaders V K Sasikala and her nephew T T V Dhinakaran and Tamil television channel Jaya TV over suspected tax evasion. Dhinakaran, the deposed AIADMK deputy general secretary, condemned as a “conspiracy” the searches […]

Adhaar and PAN must be linked from next month

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Adhaar and PAN must be linked from next month

New Delhi, Jun 28 (PTI) The government has made it mandatory to link existing Aadhaar numbers with PAN of taxpayers with effect from July 1. Amending income tax rules and notifying the same, the government has made quoting of the 12-digit biometric Aadhaar or the enrolment ID a must at the time of application of […]

Lalu Prasad’s daughter in tax net?

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Lalu Prasad’s daughter in tax net?

New Delhi: The Income Tax Department has issued summonses to RJD chief Lalu Prasad’s MP daughter Misa Bharti and her husband in connection with its probe in Rs 1,000 crore alleged benami land deals and a tax evasion case, reports PTI. The development followed the arrest of chartered acountant Rajesh Kumar Agrawal by the Enforcement […]

New Income Tax return form, e-filing starts Saturday

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New Income Tax return form, e-filing starts Saturday

New Delhi, Mar 31 (PTI) The government on Friday notified a simpler, one-page form for filing income tax returns while making it mandatory to quote Aadhaar number and disclose bank deposits of more than INR 2 lakh post demonetisation. The Income Tax Return Form-1 (Sahaj) will replace the 7-page form, removing a plethora of columns […]

Govt to write off 16 percent of ‘tax due’ cases!

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Govt to write off 16 percent of ‘tax due’ cases!

New Delhi:  Some 21,54,000 people owe the government less than Rs 100 in tax. As a ‘one time measure’, the government has decided to write off their outstanding taxes ( 21.54 lakh taxpayers who owe Rs 100 or less). These small tax payers form about 16 percent of all ‘tax due’ cases. This was stated […]

Taxman vs Tennis star: game on!

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Taxman vs Tennis star: game on!

Hyderabad: Is money earned as ‘brand ambassador’ for a state taxable? The taxman says yes, the tennis star says it was a  One Crore Rupee training incentive! Tennis star Sania Mirza, who was summoned in connection with an alleged case of non-payment of Service Tax, has denied any tax evasion. In response to the summons issued […]

400 watchdogs to sniff out Black Money in Poll Process

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400 watchdogs to sniff out Black Money in Poll Process

The Election Commission will deploy about 400 expenditure observers, drawn from the IRS and other central services, to check use of black money and other illegal inducements in the Assembly polls in five states, says a PTI report (Jan 4). 200 observers will be drawn from the Income Tax department stream of the Indian Revenue […]

Better Watch out, not for Santa but the Tax-man at the door!

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Better Watch out, not for Santa but the Tax-man at the door!

New Delhi: Warning ! Those who are  depositing their unaccounted old currency in someone else’s bank account! The tax department has decided to slap charges under the newly enforced Benami Transactions Act against violators! You may be  penalized, prosecuted and ‘chalkki peeso’ in jail!  And rigorous jail term of a maximum seven years. Official sources […]