Tax

  • Rs 38 lakh seized from two vehicles in election related checking 15-04-2014 02:50 PM

    A sum of Rs 38 lakh was on Tuesday seized from two vehicles during election related checking at Anjanpir in Vaishali district, police said. Rs 30 lakh were seized from a SUV and Rs 8 lakh from another car when they were stopped at a police checkpoint for election related...
  • Hackers exploit Heartbleed bug to attack Canada tax agency, more expected 15-04-2014 01:28 PM

    Boston: Canada's tax-collection agency said on Monday that the private information of about 900 people had been compromised as hackers exploited the "Heartbleed" bug, and security experts warned that more attacks will likely follow. The breach allowed hackers to extract social insurance numbers, which are used for employment and gaining...
  • Police catch two people carrying Rs 6.36 lakh, cash seized 12-04-2014 09:32 AM

    During checking for unaccounted cash for use in poll, police on Friday caught two persons carrying Rs 6.36 lakh at Maithi toll plaza in Muzaffarpur district. During routine checking of vehicles, the police found Rs 6.36 lakh in a car coming from Darbhanga to Muzaffarpur, police said. When queried about...
  • Rajasthan's Income Tax Department breaks seizure records in 2013-14 10-04-2014 11:06 PM

    In its searches operations, the Investigation wing of Rajasthan Income Tax Department found undisclosed income to the tune of Rs 603.61 crore as admitted by the assesses and total assets of Rs 44.27 crore were seized in 2013-14. The performance of the Investigation wing of the I-T Department, Rajasthan improved...
  • Non filing of IT returns: Jayalalithaa, aide skip court appearance 10-04-2014 11:03 AM

    Chennai: AIADMK supremo and Tamil Nadu Chief Minister J Jayalalithaa and her aide Sasikala Natarajan failed to appear before and economic offence court in Chennai on Thursday. Jayalalithaa has moved the Supreme Court to extend trial by another four months. After the duo failed to appear, the court adjourned the...
  • In drive against black money, I-T seizes Rs 41.50 lakh unaccounted cash 05-04-2014 12:18 AM

    The Income Tax department in Bihar has seized Rs 41.50 lakh as a part of its drive against black money and unaccounted flow of cash in the Lok Sabha polls. Besides, challans of Rs 9.80 lakh have also been seized till date by the department, I-T DG, Bihar and Jharkhand,...
  • Double blow for Jaya, Chennai and Bangalore courts demand her appearance 03-04-2014 04:38 PM

    Chennai: Tamil Nadu Chief Minister J Jayalalithaa has suffered two legal blows on Thursday. The additional chief metropolitan court in Chennai has dismissed the petition filed by the CM seeking her exemption from appearing in court. The case relates to the non-filing of IT returns from 1991 to 1994. The...
  • Tamil Nadu CM Jayalalithaa skips court appearance in tax fraud case 03-04-2014 11:24 AM

    Chennai: Tamil Nadu Chief Minister J Jayalalithaa who is facing a trial in an income tax related case, skipped the court appearance on Thursday. The AIADMK chief has also filed a petition seeking exemption from personal appearance in the case, which the Bangalore and Egmore courts rejected. Both the courts...
  • Madhu Koda's house searched by Income Tax officials 03-04-2014 12:06 AM

    Former Jharkhand chief minister Madhu Koda's residence was searched on Wednesday by a team of Income Tax officials in West Singhbumdistrict head-quarters town of Chaibasa. "Acting on specific information, we informed the Income Tax department, whose officials came and searched his house," Expenditure Observer of the Election Commission of India...
  • 'Illiterate' Rakhi Sawant owes IT department Rs 72 lakh dues 02-04-2014 04:07 PM

    Mumbai: Actress Rakhi Sawant, who has jumped into poll fray while claiming to be an "illiterate" person with assets of Rs 15 crore, has outstanding loans worth about Rs 2.5 crore and an additional Rs 72.5 lakh tax liability. There is also a pending criminal case of 'breach of trust'...
  • IT arrests, seizes Rs 43 lakh in cash from man at Shahpura 01-04-2014 11:30 PM

    Sleuths of Income Tax department on Tuesday arrested a youth and seized Rs 43 lakh in cash from him at Shahpura near Jaipur, an official said. Mahendra Singh, a resident of Jhunjhunu, who did not disclose any information about the huge cash amount and its owner, was being interrogated, he...
  • BJP leader Ganesh Malviya, I-T officer, others get bail in bribery case 01-04-2014 05:40 PM

    A local court in Bhopal on Tuesdaygranted bail to Deputy Commissioner of Income Tax Department Poonam Rai, her husband and BJP leader Ganesh Malviya and two others arrested on Friday by CBI for allegedly accepting a bribe of Rs 10 lakh from a builder. Special Additional District Judge (ADJ) Manoj...
  • Bhopal: CBI arrests I-T officer, husband for taking Rs 10 lakh bribe 29-03-2014 11:31 AM

    Bhopal: The CBI on Saturday arrested a top Income Tax official and her politician husband on charges of taking bribe. Poonam Rai, the Deputy Commissioner of Income Tax, and her husband Ganesh Malviya, a BJP leader, were arrested for accepting a bribe of Rs 10 lakh from a builder. The...
  • Dhoni pays Rs 20 crore income tax in 2013-14 28-03-2014 05:25 PM

    Team India captain Mahendra Singh Dhoni has paid Rs 20 crore income tax in 2013-14 to retain his pole position as the highest individual tax payer in the Bihar and Jharkhand region, a senior Income Tax official said on Friday. Dhoni has paid an income tax worth Rs 20 crore...
  • Swiss government to reply Chidambaram's letter soon 27-03-2014 09:24 PM

    Switzerland on Thursday said it would soon respond to Finance Minister P Chidambaram's letter that has raised concerns about not providing information on alleged unaccounted money stashed by Indians in Swiss banks. "We confirm that we have received a letter from India's Finance Minister. He will receive an answer soon,"...
  • I-T returns case: Court summons Jayalalithaa, Sasikala on April 3 20-03-2014 02:47 PM

    Chennai: A Chennai court has directed Tamil Nadu Chief Minister J Jayalalithaa and her aide Sasikala to appear before it on April 3 in connection with an income tax case. The case was filed against the two by the Income Tax department in 1997 for not filing tax returns from...
  • Change India: How can we overhaul India's tax system? 15-03-2014 04:28 PM

    In the run up to the 2014 Lok Sabha polls, Network18's latest campaign is on 'Change India - Agenda for the next PM'. In the sixth edition of the series, we look at ten policy initiatives that will enable the next prime minister to simplify India's complicated tax system and...
  • Black money in polls: I-T starts helpline for Delhi 15-03-2014 10:21 AM

    New Delhi: The Income Tax department has floated a toll-free helpline number for general public to alert it about any suspicious movement of large sums of cash in the national capital during polls. The investigation wing of the department has created a control room and complaint monitoring cell at its...
  • Gujarat: FIRs against Kejriwal convoy for 'evading' toll tax 14-03-2014 04:50 PM

    Gujarat police has lodged two separate complaints against AAP chief Arvind Kejriwal's convoy in connection with alleged non-payment of toll tax during his 'fact finding' tour in the state last week. The FIRs were registered against the cavalcade led by Kejriwal, police said on Friday. The first complaint is lodged...
  • After Mumbai, FIR against AAP workers in Gujarat 14-03-2014 07:56 AM

    New Delhi: After Mumbai, an FIR has now been filed against Aam Aadmi Party volunteers in Gujarat's Kutch for not paying toll tax during Gujarat visit. The FIR has been filed at the Samakhyali police station in Kutch on Thursday for not paying toll taxes after a complaint was registered...
  • Binani Cement suspends operations at two plants 13-03-2014 06:08 PM

    Demanding relaxation from the Rajasthan government for mode of payment of tax dues to the tune of Rs 154.51 crore, Binani Cement has suspended operations at its two plants in the state in Sirohi and Sikar districts. The state government had last month attached the steel-maker's 26 bank accounts under...
  • Income Tax department to keep watch over use of black money in LS polls 13-03-2014 03:02 PM

    Income Tax department will depute 65 officers and 130 inspectors to keep a tab over use of illegal cash and valuables in Lok Sabha elections in Bihar and Jharkhand, a senior IT official said on Thursday. "Besides, control rooms have been set up in Patna and Ranchi with toll free...
  • IT raids on three business houses, recovers Rs 60 crore of undisclosed income 01-03-2014 08:49 AM

    Income Tax department has recovered Rs 60 crore of undisclosed income from three business houses following a raid at 35 places in the state, sources said. The three business houses, two of them engaged in real estate, have surrendered Rs 60 crore of undisclosed income after a search and seizure...
  • Government announces compensation to calamity-hit shopkeepers 28-02-2014 08:14 PM

    Uttarakhand government today decided to compensate shopkeepers who lost their goods in last year's calamity and give concession to over five lakh consumers in water tax. It also decided to introduce a food security scheme of its own and fill vacancies in the education department. The decisions were taken at...
  • Barcelona pay 13.5m euros in Neymar tax fraud case 24-02-2014 09:36 PM

    Spain: Barcelona paid 13.55 million euros ($18.6 million) to Spanish tax authorities on Monday to cover any potential irregularities in their signing of Neymar, all the while maintaining their innocence of the fraud charges levied against them. The Spanish champion said in a statement they had paid the "complimentary" amount...
  • Vodafone blames government for $ 2 bln tax dispute talks collapse 19-02-2014 11:05 PM

    Mumbai: Vodafone Group blamed the government on Wednesday for the collapse of talks aimed at settling a $2 billion tax dispute relating to its acquisition of Hutchison Whampoa's mobile business in the country. The Finance Ministry is preparing to seek the cabinet's approval to withdraw conciliation proceedings after Vodafone wanted...
  • Raise our share in tax revenues, Shivraj Singh Chouhan tells Centre 18-02-2014 03:39 PM

    Madhya Pradesh Chief Minister Shivraj Singh Chouhan has sought a raise in the state government's share in the central tax revenues from the existing 30 per cent to 50 per cent. The Chief Minister made this demand during a meeting with the members of the 14th Finance Commission held in...
  • Budget 2014: UPA cuts excise duty, lowers prices, woos voters ahead of polls 17-02-2014 08:39 PM

    New Delhi: In a move to woo the voters ahead of the upcoming Lok Sabha elections, Finance Minister P Chidambaram on Monday unveiled the UPA government's interim budget, its last before the party goes to face the electorate. In his interim budget, the Finance Minister has reached out to specific...
  • Budget 2014: As it happened 17-02-2014 10:19 AM

    New Delhi: 12:07 pm: Towards the end of his speech, Chidambaram says, "140 million moved out of poverty during UPA-I and UPA-II regime and we are legitimately proud of it." 12:05 pm: Excise duty on mobile handset will be 6 pc on CENVAT credit to encourage domestic production. 12:02 pm:...
  • UPA-II to present its last Budget today, fears Telangana disruption 17-02-2014 07:50 AM

    New Delhi: Finance Minister P Chidambaram will present the last interim budget of the UPA-II on Monday in Parliament. Chidambaram will present the vote on account on Monday, giving an estimate of funds required to meet expenditure until a new government is in place. Chidambaram will give a report card...