I T

  • 'If I am FM: I will change the attitude of I-T officers' July 6, 2014

    If I were FM, I will take steps to change the attitude of assesses. The I-T officers should change their attitude and gain people's trust and confidence.A human touch will ensure better compliance. ...
  • CBI working with 'crazy logic', ignoring facts: former SEBI chief March 19, 2014

    Mumbai: Hitting back at the CBI for launching an enquiry against him on the basis of an I-T probe that has already been disposed of, former SEBI chief CB Bhave has said that the agency was working with a "crazy logic" and has ignored the fact that the tax department...
  • Monitor illegal flow of money, liquor in Delhi: EC March 10, 2014

    New Delhi: The Election Commission (EC) on Monday directed the excise and the income-tax departments to strictly monitor the flow of illegal alcohol and flow of money in the national capital prior to the Lok Sabha polls. Delhi's seven constituencies go to polls on April 10. In a clear instruction, both...
  • I-T dept puts stringent rules for allotment of new PAN cards January 29, 2014

    Mumbai: The I-T department has put in stricter rules to curb misuse of PAN card. It has notified new procedures for verifying personal and proprietary data of an individual or entity for allotment of new PAN cards. Stringent proof of identity will be required from now on. It will also need...
  • Rs 13 lakh recovered in EC, I-T raid on ex-legislator October 17, 2013

    Jaipur: In a joint operation here ahead of the December 1 polls in Rajasthan, Income Tax, Collectorate and Election Commission officials today found over Rs 13 lakh in cash in possession of a former MP. Responding to an anonymous tip-off received by election officials, the joint team surveyed the hotel where...
  • Last date for filing income tax returns extended to August 5 July 31, 2013

    New Delhi: The government on Wednesday extended the last date for filing of income tax returns by five days to August 5. The due date, which was Wednesday, has been extended in wake of "unprecedented surge" in number of I-T returns being filed electronically. "As a measure of taxpayers convenience, it...
  • I-T dept issues notices to ICICI, Axis, HDFC banks May 28, 2013

    New Delhi: Income Tax department has issued notices to three top private lenders in the country - ICICI Bank, Axis Bank and HDFC Bank - in connection with alleged money laundering charges levelled by online portal Cobrapost. The department has asked these banks to produce documents for verification as part of...
  • Chidambaram to meet top I-T brass later in May May 19, 2013

    New Delhi: Finance Minister P Chidambaram will inaugurate a two-day conference of top Income Tax department and CBDT officers later this month in the national capital and discuss efforts to maximise revenue collection. The annual conference of Chief Commissioners and Directors General of the I-T department will be held on...
  • Karnataka polls: I-T dept raids JDS MLA's premises May 3, 2013

    Bangalore: The Income Tax department has conducted searches on the premises of Janata Dal Secular candidate and former minister A Krishnappa and seized Rs 2.6 crore in cash, besides jewellery worth Rs 1.88 crore. "Rs 2.65 crore has been seized from the premises of A Krishnappa, an MLA after I-T searches...
  • Ekta Kapoor's Balaji Telefilms owes Rs 30 cr to I-T dept May 3, 2013

    Mumbai: Film and television producer Ekta Kapoor's production house Balaji Telefilms evaded tax to the tune of Rs 30 crore by inflating bills, said the Income Tax Department sources on Friday. Ekta has, however, now agreed to pay the remaining amount, added the sources. I-T officials had conducted raids at...
  • Mumbai: Overnight I-T raids at Leopold Cafe February 19, 2013

    Mumbai: The Income Tax department conducted raids at the Leopold Cafe in Mumbai on Monday night. Tax sleuths started their inspection around 6 pm in the evening and continued through the night. Sources say that documents from certain departments have also been seized after spotting irregularities. Cafe Leopold was one...
  • Amitabh agrees to pay tax dues worth Rs 1.66 cr January 9, 2013

    Mumbai: A day after the Supreme Court asked actor Amitabh Bachchan to respond to a petition from the Income Tax department, the actor said on Wednesday that he is ready to pay the taxes due. The Income Tax Department had claimed that the superstar owed to it Rs 1.66 crore...
  • Graft charges may hit BJP chief Gadkari's 2nd term hopes October 25, 2012

    New Delhi: As more details of the web of shell companies associated with Bharatiya Janata Party (BJP) president Nitin Gadkari's Purti Group emerged, the Income Tax department swung into action. Sources in the I-T department confirmed they were probing the source of funds of the 18 odd companies that are...
  • GMR Infra offices raided on suspected tax evasion October 11, 2012

    New Delhi: Income Tax Department officials on Thursday raided the offices of GMR in multiple cities over suspected tax evasion by the infrastructure company. The search operations in the Delhi, Mumbai and Bangalore offices of the company are being carried out by the I-T Department's investigation wing. GMR has confirmed the...
  • I-T returns, performance report out of RTI ambit: SC October 5, 2012

    New Delhi: The Supreme Court has ruled that the details of a person's income tax returns and performance of an employee are "personal information" which cannot be divulged under the provisions of the Right to Information Act unless a larger public interest is involved. The apex court added that under the...
  • I-T not harassing Ramdev: CBDT chairperson September 7, 2012

    New Delhi: The CBDT on Thursday rejected the charge that it was harassing Yoga guru Ramdev against whom it has slapped a Rs 58 crore notice for alleged violation of tax exemption provisions given to his trust. "As far as allegation of harassment of Baba Ramdev has been made by you...I...
  • Ramdev alleges witch hunt by UPA government August 29, 2012

    New Delhi: Yoga Guru Ramdev has accused the UPA government of witch hunt after it was announced that his trust Patanjali Yogpeeth's charitable status will be withdrawn. Ramdev claimed that he is being targetted because of his anti-corruption movement against the UPA. "Just because we speak against corruption and blackmoney, the...
  • Blackmoney: Govt to set up 14 new overseas I-T offices August 15, 2012

    New Delhi: The government will set up 14 more Income Tax Overseas Units (ITOUs) to deal with the menace of blackmoney and keep a tab on illegal routing of funds from abroad and parking money in foreign countries. The Finance Ministry has recently sent a detailed proposal in this regard to...
  • Income tax: Now, call an expert home to file returns July 26, 2012

    New Delhi: The government has announced a new scheme under which any tax payer can seek online help or call an expert home for a nominal fee to help file income tax returns. The expert, called Tax Return Preparer, can charge a maximum of Rs 250 for preparing a tax...
  • Is there more black money within India than outside? July 11, 2012

    A sting operation by IBN Network and Cobrapost has revealed the rampant use of black money in the Indian film industry. ...
  • I-T cases prior to April 1, 2012 won't be probed May 30, 2012

    New Delhi: Providing comfort to worried foreign investors, Finance Minister Pranab Mukherjee on Wednesday said that the Income Tax Department will not reopen cases where assessment proceedings had been finalised before April 1, 2012. "I gave a commitment in Parliament with regard to retrospective amendments that CBDT (Central Board of Direct...
  • I-T department probe Pune franchise May 23, 2012

    New Delhi: The Income Tax Department is conducting an enquiry at the office of Indian Premier League (IPL) team Pune Warriors India. The enquiry follows a sting operation where some Pune players allegedly took money to spot-fix during the IPL matches. The money is alleged to have been paid in cash...
  • Ponty Chadha reports Rs 175 cr 'undisclosed' income May 15, 2012

    New Delhi: Three months after the Income Tax department conducted searches on his businesses, liquor baron Ponty Chadha is said to have reported Rs 175 crore of 'undisclosed' income to the department. "The business group has admitted an undisclosed income of Rs 175 crore and further tax related proceedings are on,"...
  • Hiring activities improve in April, says report May 10, 2012

    New Delhi: In signs of better job market prospects, hiring activities increased across many sectors, including banking and pharma in April, says a survey by leading employment portal Naukri.com. Naukri.com's Job Speak Index climbed to 1,193 in April from 1,170 in March. The index is a monthly measure of online job...
  • Proposed tax law change 'clarificatory': Pranab April 20, 2012

    Washington: Amid growing criticism from various quarters over the proposed retrospective changes in the tax law, Finance Minister Pranab Mukherjee has said that changes in the legislation would be just "clarificatory" in nature. During his meeting with the US Treasury Secretary Timothy Giethner on Thursday, Mukherjee clarified that the proposed legislation...
  • 2G: SC begins plea against P Chidambaram April 4, 2012

    New Delhi: The Supreme Court on Wednesday began hearing the plea for investigating the alleged role of Home Minister P Chidambaram in the 2G spectrum scam with an NGO claiming that he was in the know of all developments relating to fixation of price for allocation of radio waves. The bench...
  • FM defends amending I-T Act to deal with Vodafone-type deals March 31, 2012

    Kolkata: Finance minister Pranab Mukherjee on Saturday said there is "no other way" but to amend the Income Tax Act with retrospective effect to bring into the net Vodafone-type cross-border deals. "I am posing a very few straight questions to you. We shall have to decide whether you want India...
  • Pranab to reconsider duty on unbranded jewellery March 27, 2012

    New Delhi: Bowing to protests by jewelers and demands in Parliament, Finance Minister Pranab Mukherjee hinted at a roll back of the excise duty on unbranded jewellery but ruled out going back on the hike in import duty on gold and platinum. He also promised to reconsider the proposal to make...
  • Tax case: HC asks Vodafone to deposit extra 5 cr March 26, 2012

    Mumbai: The Bombay High Court on Monday directed telecom major Vodafone India to deposit with it an additional amount of Rs five crore before March 31, in connection with an over Rs 77-crore tax demand, while the Income Tax department decides on the company's rectification application. The division bench headed by...
  • No large scale re-opening of I-T cases: Pranab March 25, 2012

    New Delhi: The government on Sunday said it has no vindictive intention in retrospectively amending tax laws and has no plans to re-open a large number of old cases, while assuring India Inc that the I-T Department will not act like a "policeman". Interacting with industry leaders in New Delhi, Finance...