Income Tax

  • 1.68 crore cash, gold seized on poll day 18-04-2014 08:43 AM

    Raids at different places in Jharkhand on Thursday led to seizure of about Rs 1.68 crore cash, gold and silver on poll day. The seizure was made at Hazaribagh, Ranchi, Koderma, Ramgarh, Bokaro and Dhanbad, according to a release issued by the Election Commission. A total of 9.98 gram gold...
  • 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...
  • 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...
  • 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...
  • 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...
  • 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...
  • 'BJP vision panel may propose no income tax on salaried class' 15-02-2014 10:55 PM

    Senior BJP leader Subramanian Swamy on Saturday said his party's vision committee might propose either "no income tax" on the service class or give full tax exemption on their net savings. "The party's vision committee headed by Nitin Gadkari plans to propose either abolition of income tax on the service...
  • Coalgate: I-T department initiates proceedings against Aditya Birla group 13-02-2014 07:13 PM

    New Delhi: The Income Tax department (I-T) on Thursday initiated proceedings against Aditya Birla Group in coal blocks allocation case. Seeking information on coal block allocation to Hindalco, the I-T department also sought Supreme Court's permission to inspect the company's documents in the coal blocks allocation case which is now...
  • Talks between government and Vodafone over tax dues break down: Sources 11-02-2014 04:25 PM

    New Delhi: There has been a breakdown in talks between the government and Vodafone over tax dues. Sources say that the government is likely to withdraw the proceedings. The Finance Ministry has floated a Cabinet note for the withdrawal of conciliation and the Law Ministry, too, has cleared the withdrawal....
  • HC rejects Anil Bastawade's bail plea in multi-crore money laundering case 11-02-2014 07:54 AM

    Jharkhand High Court on Monday rejected the bail petition of Anil Bastawade, an alleged aide of former Chief Minister Madhu Koda, who is an accused in a multi-crore money laundering scam. The Bench of Justice HC Mishra dismissed the petition, saying granting bail could influence the investigation of the case....
  • SC orders prosecution of Jayalalithaa for not filing I-T returns 30-01-2014 10:56 AM

    New Delhi: In a huge setback for Tamil Nadu Chief Minister J Jayalalithaa, the Supreme Court on Thursday ordered a trial court to prosecute her for not filing the Income Tax returns. Jayalalithaa is facing a trial in an income tax related case for not filing IT returns between 1991...
  • Goa: State government demands share for state in income tax 29-01-2014 03:21 PM

    The Goa government on Wednesday suggested that a partial component of the income tax can be diverted towards the state which will promote generation of central taxes in its coffers. According to Chief minister Manohar Parrikar the move will give liberty to the state government from imposing professional tax, an...
  • HC seeks UP government's reply on PIL against top education official 24-01-2014 08:10 AM

    Allahabad High Court on Thursday sought Uttar Pradesh government's reply on a PIL which alleges that Vasudev Yadav, who holds dual charge as the director of the basic as well as secondary education departments in the state, set up institutions in the names of his wife and children. A Division...
  • Ramalinga Raju's wife, relative sentenced for tax evasion 09-01-2014 09:29 PM

    Hyderabad: A court in Hyderabad on Thursday sentenced 80 directors, including relative of Satyam founder B Ramalinga Raju, belonging to firms affiliated to erstwhile Satyam Computers to one year jail in an income tax evasion case, while four women directors got six months each. The four women sentenced by the...
  • BJP's proposal: Can Income Tax be really abolished in India? 09-01-2014 12:57 PM

    New Delhi: The BJP is seriously planning to promise sweeping several tax reforms in its Lok Sabha manifesto. It serves two purposes. Stop the exodus of middle class and upper middle class voters to the Aam Aadmi Party (AAP) and give an impression that the party is for a transparent...
  • Virbhadra Singh's income jumped by 20 times in 2 years, CBI probes 07-01-2014 06:51 PM

    New Delhi: More trouble is in store for Himachal Pradesh Chief Minister Virbhadra Singh as the Central Bureau of Investigation has now begun investigating his Income Tax documents filed between 2010 and 2011. Singh had filed a revised return in 2012 wherein he claimed that his income from agriculture increased...
  • I-T raids 20 Yash Birla properties in Mumbai, Delhi 07-01-2014 06:36 PM

    Mumbai: The Income Tax department on Tuesday is carrying out searches at five companies of the Yash Birla group. The raids are currently underway at 15 different locations in Mumbai and Delhi. The companies are being searched for suspected tax evasion. Officials suspect that the income declared by them is...
  • Mumbai: CBI arrests Joint Commissioner Income Tax in graft case 27-12-2013 12:47 PM

    Mumbai: CBI on Thursday arrested a joint commissioner Income Tax posted at Thane for allegedly accepting a bribe of Rs 3.5 lakh from a businessman to bail him out in a tax evasion case. CBI sources said Sanjeev Ghai, Joint Commissioner posted at Thane office of Income Tax was taken...