Income Tax Department

Crackdown on shell companies: Government to disqualify over 1.06 lakh directors

Further tightening the noose around black money hoarders, the government has said that more than 1.06 lakh directors will be disqualified for their association with shell companies

Deposits worth Rs 2.89L cr made after note ban under scanner: I-T

The department added that 14,000 properties of over Rs 1 crore each are also under scrutiny as their owners have not filed income returns

Undisclosed income of Rs 71,941 cr found in 3 years: Govt to SC

The Centre has told the Supreme Court that massive searches, seizures and surveys by the IT department over the last 3 years have led to the detection of around Rs 71,941 crore of "undisclosed income."

In major reshuffle, I-T department transfers 245 commissioners citing ‘performance’

The CBDT has shifted out non-performers from significant charges, besides those officers holding a post for two years or more, and also those who are facing vigilance or other disciplinary charges

I-T identifies 5.56 lakh new bank accounts with suspicious deposits during demonetisation

The Income Tax Department has identified 5.56 lakh new persons whose tax profiles were found to be inconsistent with the cash deposits made by them during the demonetisation period

I-T lens on foreign accounts of NRIs as govt tightens noose on money-laundering

Tax authorities have added a fresh provision in the Income Tax Return forms that will require NRIs to furnish details of all offshore accounts

Benami land deal case: I-T slaps Rs 10,000 fine on Misa Bharti for failing to appear before it

The Income Tax Department on Tuesday slapped a fine of Rs 10,000 on RJD chief Lalu Prasad Yadav's daughter Misa Bharti for failing to appear before it in connection with the Rs 1,000 crore alleged benami land deals and tax evasion case

Is NOIDA a corporation under UP law? SC to examine

Supreme Court has agreed to examine a plea of the income tax department whether the NOIDA is a corporation established by the UP government under the state industrial development law or not.

Panama papers probe: IT dept has sent 266 requests overseas, says CBDT

Income Tax department has sent over 260 requests overseas seeking information in connection with its tax evasion probe in the Panama papers leak case.

4 lakh cos likely to face deregistration for not filing I-T returns: Report

Amid the government’s crackdown on shell companies, around four lakh of the total 11 lakh active Indian companies are likely to face deregistration for failing to file their returns for three financial years.

Income Tax, Election Commission working with our political rivals as a coalition: AIADMK

AIADMK deputy general secretary T T V Dinakaran today alleged that the Income Tax department and Election Commission were working in tandem with political rivals to decimate his party.

IT raids at 50 locations in TN, Rs 5.5 crore seized ahead of RK Nagar bypoll

Banks get time till June 30 to obtain PAN from account holders

Black Money: I-T department cracks down against tax evasion of Rs 100 cr, raids 50 locations across India

The Income Tax department today conducted searches at over 50 locations as part of its crackdown against tax evasion to the tune of over Rs 100 crore.

I-T department uncovers Rs 45,622 crore of undisclosed income

Over Rs 45,622 crore of undisclosed income has been unearthed by I-T department searches on nearly 2,534 groups of persons in the last three financial years and the current one (up to January 2017). “During

Operation Clean Money: No threat or show cause to taxpayers, CBDT tells taxman

The CBDT has refrained tax officials from issuing threat, warning or show-cause notice to taxpayers contacted by it under Operation Clean Money.

I-T dept detects Rs 120 cr hidden income after raids on Congress MLA

The Income Tax department on Saturday claimed to have detected undisclosed income worth Rs 120 crores and seized cash worth Rs 1.10 crores and 10 kgs of gold after it conducted raids on a Congress

'Operation Clean Money’: Taxmen scan 1 cr accounts, seek explanation from 18L ‘suspects’

Determined to track down black money from the deposits made during the 50-day demonetisation window, the tax department has scrutinised and matched as many as 1-crore accounts and asked 18 lakh people to explain the

Post note ban deposits cross Rs 10 lakh crore mark, IT Dept readies action plan

The deposits made in old Rs 500 and Rs 1000 notes within the 50-day demonetisation window provided by Prime Minister Narendra Modi have crossed the Rs 10 lakh crore mark. Over one crore bank accounts