New Delhi: These are taxing times for India Inc with multiple corporates coming under the taxman's scanner. But with news of an Income Tax official being allegedly bribed post the latest Everonn raid, serious questions have emerged. So is it time for the taxman to share more details post search and seizure operations? "I think the Income Tax department needs to put its own house in order. I am personally ...
09:18 AM, Sep 07, 2011
New Delhi: Team Anna has slammed the timing of the Income Tax department notices to one of its top members, Arvind Kejriwal, asking him to pay his dues but similar notices were issued to him in 2007 and 2008 too. Kejriwal, who is in the midst of a controversy over payments due from him from the government for alleged violation of service norms, was issued notices by the Chief Commissioner...
06:11 PM, Sep 03, 2011
Ralegan Siddhi: Social activist Anna Hazare on Friday took strong exception to the I-T department's notice to his key aide Arvind Kejriwal and asked the Government not "to play mischief" with a man of integrity and character. "The government is playing khilwad (mischief) with Arvind and it is not good. I got a phone call from him this afternoon. They are questioning him about something after a gap of four...
09:54 PM, Sep 02, 2011
New Delhi: A defiant Arvind Kejriwal on Friday called the I-T department's notice on him a political move and said that the department is doing this under pressure from its political bosses. The Income-Tax notice slapped on the Magsaysay Award winner asked him to pay dues of more than Rs 9 lakh. The notice was served a week before Anna Hazare kicked off his anti-corruption. Incidentally, officially, Kejriwal is still...
03:08 PM, Sep 02, 2011
Mumbai: The CBI on Monday arrested Income Tax Commissioner Daya Shankar for allegedly accepting a bribe of Rs two lakh from a private company for passing a favourable order in an appeal matter. "Shankar, Commissioner IT (Appeals), was arrested this morning from his office in Bandra for demanding and accepting bribe for settling and issuing a favourable order in an appeal matter pending before him," CBI Joint Director (Western Region)...
06:21 PM, Aug 29, 2011
New Delhi: The CBI has formed a Special Investigating Team (SIT) to study the Comptroller and Auditor General's report on Commonwealth games and to see whether any fresh case could be registered. The SIT, headed by a Joint Director, will also collaborate with other investigating agencies like the Income Tax and Enforcement Directorate, CBI sources said. The SIT would be recommending whether any fresh case is possible apart from 14...
08:56 PM, Aug 28, 2011
Mumbai: The Income Tax Department has slapped a tax demand of Rs 2,114 crore on IT firm Mahindra Satyam (erstwhile Satyam Computer Services), after disallowing exemptions claimed by the company. "The company has received draft notices of demand for Rs 1,037.69 crore and Rs 1,075.73 crore for assessment years 2002-03 and 2007-08, respectively," Mahindra Satyam said in a filing to the Bombay Stock Exchange. A senior official of the company...
08:47 PM, Aug 22, 2011
Mumbai: The Bombay High Court on Friday granted bail to Pune stud farm owner Hasan Ali Khan, arrested in March for alleged involvement in multi-crore money laundering scam, observing that there is nothing in Enforcement Directorate's case to show that the money amassed by him are proceeds of crime. "There are no ingredients of proceeds of crime in the case made out by the Enforcement Directorate against Hasan. He deserves...
04:43 PM, Aug 12, 2011
Kochi: Income tax raids on residences and business establishments of Malayalam superstars Mammootty and Mohanlal have revealed undisclosed assets worth about Rs 30 crore, a top I-T official said on Friday. "Inquiries so far have indicated undisclosed assets worth approximately Rs 30 crore," ET Lukose, Director General of Income Tax (Investigation), Kochi said in a statement. Cash and jewellery amounting to Rs 2.8 crore were seized during simultaneous raids at...
04:00 PM, Aug 12, 2011
New Delhi: A Delhi court on Wednesday cut-short hearing in the 2G spectrum case to facilitate the Income Tax department to begin its three-day interrogation of former Telecom Minister A Raja and five other co-accused. Raja, Swan Telecom Promoters Shahid Usman Balwa and Vinod Goenka and three top Reliance ADAG officials - Gautam Doshi, Hari Nair and Surender Pipara - were allowed to be quizzed in judicial custody by the...
07:26 PM, Jul 27, 2011
New Delhi: The Income Tax Department will open 50-special counters at Vikas Bhawan (near ITO) for residents of North-East and North-West Delhi from July 28 to July 31 to file their tax returns. The last date for filing of income tax returns for the assessment year 2011-12 is July 31. "The ITD, New Delhi, is setting up Special counters to avoid last minute rush," Chief Commissioner (IT) Digvijai Kumar told...
07:46 PM, Jul 26, 2011
New Delhi: An Income Tax department team will fly down from Chennai on Wednesday to question former telecom minister A Raja in Tihar jail, for his alleged involvement in the 2G spectrum allocation scam. The two-member team, led by an Additional Commissioner rank officer, will quiz Raja in the afternoon at the jail complex where he is presently lodged in judicial custody. "Former telecom minister A Raja will be questioned...
06:48 PM, Jul 26, 2011
Kochi: After a four-day gap, Income Tax officials on Tuesday continued searches at Malayalam superstar Mohanlal's residence. The officials began the search in the presence of the actor who returned from Chennai in the morning, I-T sources said. I-T authorities had on July 22 conducted simultaneous searches at 20 business establishments and residences of Mohanlal and co-superstar Mammootty in Kerala, Tamil Nadu and Karnataka following information that they had assets...
05:51 PM, Jul 26, 2011
Mumbai: Lilavati Hospital, one of Mumbai's most famous landmarks, was raided by the Income Tax Department in April this year, after CNN-IBN exposed that four trustees of the hospital, who control the finances, are involved in large-scale money laundering and siphoning off money from the hospital. The trustees also figured in the list of Indians with black money accounts in Liechtenstein's LGT Bank. Now, CNN-IBN has learnt that the Income...
09:58 PM, Jul 25, 2011
Quick links to download printable Income Tax return forms for the Assessment Year 2011-12 in PDF format:a. ITR-1 (Sahaj) - For Individuals having Income from Salary & Interest [Download]b. ITR-2 - For Individuals & HUFs not having Income Business or Professionfrom [Download]c. ITR-3 - For Individuals/HUFs being partners in firms and not carrying out business or profession under any proprietorship [Download]d. ITR-4 - For Individuals & HUFs having income from...
03:47 PM, Jul 25, 2011
Chennai: The Income-Tax department has recovered over Rs 20 lakh from Malayalam superstar Mammootty's house in Kochi, according to sources. Documents related to land dealings were recovered from both actors' homes. Mammootty's statement was recorded at his residence on Saturday. The actor was questioned for nearly seven hours on Friday till early Saturday morning by the I-T officials. Large number of Mammootty fans had gathered at the airport to express...
11:08 AM, Jul 23, 2011
Kochi: Income Tax officials, who had conducted raids at the residence and business establishments of Malayalam superstar Mammootty, questioned him for nearly seven hours till early Saturday morning. The actor who returned from Chennai around 9 pm on Friday night was questioned by I-T officials at his residence at Panampilly Naagar in Kochi till 3 am on Saturday, top I-T sources said. Mammootty "cooperated fully with the officials", the sources...
10:45 AM, Jul 23, 2011
Chennai: The Income Tax department on Friday conducted raids at the homes and offices of Malayalam superstars Mohanlal and Mammootty. The raids were conducted at their homes and offices in Kochi, Bangalore, Thiruvananthapuram and Chennai. Sources have said that the stars had no prior information of the raids. It remains to be seen as to what comes out of the raids after the Income Tax department will talk to the...
09:16 AM, Jul 22, 2011
![Soumyadip Choudhury]( "Soumyadip Choudhury")
This is scary. If I know a little about you, I can hack into your Income Tax account. What is scarier is that this process ...
04:31 PM, Jul 18, 2011
Hyderabad: After coming under the Income Tax Department scanner over the dubious manner in which he amassed wealth, YSR Congress president and MP-elect YS Jaganmohan Reddy will now face a tougher probe by the CBI on the same charges, based on a directive from Andhra Pradesh High Court. The High Court, which treated a letter written by senior Congress MLA and current minister P Shankar Rao as a writ petition,...
11:59 PM, Jul 12, 2011
