The GST investigation arm DGGI unearthed Rs 40 crore tax evasion by an unregistered pan masala/gutkha manufacturing unit in the national capital. The GST investigation arm DGGI unearthed Rs 40 crore tax evasion by an unregistered pan masala/gutkha manufacturing unit in the national capital.
Income Tax sleuths have unearthed Rs 300 crore suspected evasion during raids on premises linked to various Tamil film personalities including superstar Vijay, producer of blockbuster 'Bigil' and several hideouts of a financier of the film.
A GST evasion to the tune of Rs 1.5 crore by a Kanpur-based pan masala company, A J Sugandhi Pvt Ltd, was detected by officials during search operations.
According to the Union Budget for 2019-20, filing of returns has been made compulsory for those who deposit more than Rs 1 crore in a current account in a year, spend more than Rs 2 lakh on foreign travel or have an annual electricity bill of more than Rs 1 lakh. The official data reveals 6.86 crore income tax returns (ITRs) were filed in 2017-18 registering a growth of 23 per cent over the previous year.
The new guidelines will kick in from June 17, 2019, and apply to all cases for compounding received on or after this date.
The department has undertaken the action under section 222 of the I-T Act (assessee deemed in default of tax payment) and "prohibited and restrained" the Hurriyat Conference leader from transferring the asset.
This comes as the government on Friday launched three new reward schemes under which a person can get up to Rs 5 crore for information on tax evasion and 'benami' (proxy) transactions and properties.
The group will also "make recommendations for policy decision in respect of tax risks of the migrating HNIW population".
I-T raided 130 premises of the business houses in Chennai, Hyderabad, Thrissur and locations in Kerala, Karnataka, Andhra Pradesh, Telangana, Gujarat, Maharashtra, Delhi and West Bengal, sources said.
Suspected black money being converted into white, post demonetisation, through bitcoins was also under the I-T’s scanner, officials said.
Various teams of I-T sleuths today visited the premises of nine such exchanges in the country including in Delhi, Bengaluru, Hyderabad, Kochi and Gurugram, since early morning.
On Thursday, a team of around 1,800 IT officials knocked at the doors of 187 premises -- residences and offices and farmhouses -- to carry out one of the biggest income tax searches on Sasikala's kin and associates.
India, China and three other members of the BRICS grouping today pledged to exchange tax information to address the problem of tax evasion and provide technical assistance to other developing countries
India is expected to get in 2019 the first batch of data relating to tax from Switzerland under a new framework for automatic exchange of information
The complaint accuses his former employer of cooking books, evading tax, wilfully breaking several laws and then intimidating, cheating and tarnishing his name when he refused to comply
Finance Minister Arun Jaitley on Wednesday signed the multilateral convention, an outcome of the OECD/G20 Project to tackle base erosion and profit shifting
In the last three fiscal years, the Revenue Department has detected tax evasions of more than Rs 1.37 lakh crore in both direct and indirect taxes.
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.
After the Lok Sabha passed the Finance Bill 2017, Finance Minister Arun Jaitley said that Aadhaar may become the only identity card in future, while making it mandatory for filing of income tax returns is necessary to curb tax evasion and frauds.
Tax authorities in India and other countries are probing HSBC Bank, including its Swiss and Dubai offices, for allegedly abetting tax evasion by four Indians and their families, the multinational lender has disclosed.
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