Ten groups of IT officials were involved in the "search exercise taking place across Tamil Nadu, Bengaluru, Hyderabad, Delhi and other places" which began at 6 am.
The Narendra Modi-led government wants an overhaul of archaic tax rules to ensure that tax compliance is easy and dispute redressal, quicker.
Sources said the probe agency has red-flagged a slew of violations of companies law by Mallya, Kingfisher Airlines and officials, including serious corporate governance lapses
Income Tax raided over 50 premises belonging to Jai Bharat Maruti Group in NCR and recovered cash worth Rs 7 crore.
A new I-T return filer is defined as a person who has not filed return in the previous years but is liable to do so under the law. The taxman has to add such entities and get them do the filing of their I-T returns.
In 1993, the limit was kept at Rs 1 lakh. It was raised thrice -- to Rs 2.5 lakh in 2004, Rs 4.5 lakh in 2008 and Rs 6 lakh in 2013.
The government has also made the linking of PAN with Aadhaar mandatory to get a 360 degree view of a person's income and assets
Since coming to power in May 2014, Modi has assured taxpayers that he will remove the fear of tax officials hounding them by ushering in accountability and answerability.
Vodafone had in 2007 acquired 67 per cent stake in the mobile-phone business owned by Hutchison Whampoa, now part of CK Hutchison.
A political storm had erupted yesterday after the IT sleuths conducted raids and searches on properties linked to Shivakumar, who was overseeing the stay of 44 Congress MLAs from Gujarat at a resort near Bengaluru
The government has extended the deadline for filing Income Tax Returns for FY 2016-17 to August 5 following complaints by taxpayers
The last date for filing of ITRs remains July 31 as there are no plans to extend this deadline, an I-T department official said today.
Jaitley said that information on 628 Indian persons holding bank accounts in HSBC bank in Switzerland was received from the government of France.
The chief commissioner of GST (Delhi zone) has clarified that the tax department only wants to facilitate the process for shopkeepers and traders during the transition to the Goods and Services Tax (GST) regime.
Taxpayers can link their Aadhaar-PAN using a mobile-based SMS service, by logging on to the website of PAN service providers, by personally visiting a PAN service centre or over the e-filing website of the tax department.
The AAP is accused of receiving four cheques amounting Rs 50 lakh from each of these companies. These cheques came under the ED scanner after it found in its preliminary inquiry that the addresses used to register the companies were bogus.
The department had carried out country-wide searches in this case last month. Benami properties are those in which the real beneficiary is not the one in whose name the property has been purchased.
The Benami Transactions Act, 1988, came into force on November 1 last year.
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