Akshay Kumar has been honoured with a letter of appreciation by the Income Tax Department after he became the highest taxpayer in the Hindi entertainment industry. The picture of the 'Samman Patra' is going viral on social media.
In Bengaluru, the IT raids were underway at Embassy Arcade Apartment in Sadashivnagar, against Narpat Singh -- Director of Embassy group.
The investigation has been taken up by Income Tax Department, Kanpur division.
The new form (ITR-U) will be available to taxpayers for filing updated income tax returns for 2019-20 and 2020-21 fiscals.
The group has a pan-India presence having an annual turnover exceeding Rs 6,000 crore. A total of 23 premises were covered in Maharashtra, Karnataka, Andhra Pradesh, Uttar Pradesh and Madhya Pradesh, in the search operation.
The tax department had last year conducted searches against Chinese mobile communication and handset manufacturing companies like Xiaomi and Oppo and their linked persons and claimed to have detected alleged unaccounted income worth over Rs 6,500 crore due to violation of the Indian tax law and regulations.
The cash was recovered during the search operation which was initially called a survey operation. Bundles of notes of Rs 2,000 and 500 denominations were recovered.
The Income Tax Department on Saturday raided the premises of senior Samajwadi Party national secretary and spokesperson leader Rajeev Rai in Mau district of Uttar Pradesh.
AIS enables a taxpayer to see and verify taxpayer info available with taxmen, provide feedback in case of discrepancies, view/update the Taxpayer Information Summary (TIS) used for pre-filling of ITR.
According to CBDT, the residence of the chairman and one of its directors were also searched.
During the search, documentary evidences were found and seized indicating receipt of unaccounted cash as well as utilisation of the same towards purchase of land.
The Central Board of Direct Taxes (CBDT) frames policy for the tax department.
The IT action covers educational institutions run or managed by the ex-minister or his family members or their close associates, certain offices, and residential premises.
Senior Congress leader Shashi Tharoor on Tuesday attacked the Centre over the glitches in the new Income Tax portal.
The last date to link Aadhar with Pan card has now been extended till June 30, 2021.
The searches, so far, have resulted in the detection of undisclosed income of more than Rs. 1000 crore. Unaccounted cash of Rs. 1.2 crore has been seized so far.
The CBDT said in a statement that Rs 8.30 crore cash was seized during the raids on the group engaged in the business of manufacture and sale of tiles and sanitaryware. The group is the "leader" in tiles business in south India.
The Income Tax Department on Thursday conducted surveys at the head offices of Instakart - a group company of Flipkart - and Swiggy in Bengaluru. The surveys were underway in connection with bogus Input Tax Credit (ITC), news agency ANI quoted sources as saying.
The raids conducted by the Income Tax department against an Odisha-based group involved in manufacturing and trading of steel products has led to the detection of about Rs 170 crore black income and presence of bogus directors who are actually gullible daily wage earners, the CBDT said on Tuesday.
The Income-Tax Department has detected alleged unaccounted income of more than Rs 150 crore after it raided premises of "leading" coal traders of Assam, the CBDT said on Monday.
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