Income Tax raids

Happy Diwali with crackers of Income Tax

Income Tax - Arjuna: Krishna, Which may be biggest cracker if we correlated with the Income Tax Provision? Krishna: Arjuna, listen gladly, the salesmen in the market sells different types of crackers likewise there are various provisions in various laws. Accordingly in Income tax the biggest cracker is the cracker that explodes in 6 different ways, w...

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Income Tax RAID – understanding Survey Vs. Search

Income Tax - Often termed as Raid by laymen, income tax survey and search are becoming increasingly common as businesses continue to grow. Apparently, there is no word called raid in the Income Tax Act. The two important tools which the department uses are survey and search and when one or both of these two operations get initiated, people term it as ...

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How to prevent Income Tax Raids, Searches & Seizures

Income Tax - What leads to income tax raids, searches and seizures? The main reasons are non-compliance with summons under Section 131(1) of the Income Tax Act, 1961, (hereinafter referred to as the Act) or a notice under Section 142(1) of the Act (described in Chapter VII, infra), likely non-compliance with such summons or notice, or the possession o...

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CBDT Clarifies Regarding Prosecution of Tax Evaders

Income Tax - Effective and Stringent Action only in known and big cases of Tax Evasion to Demonstrate to the Large Number of Compliant Tax Payers that the Tax Laws are just and Fair and to Encourage Voluntary Tax Compliance It has been noticed that the certain section of media have referred to the Discussion Paper, circulated during […]...

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Fake Income Tax Raid at Saharanpur

Income Tax - Recently there have been large number of news in daily newspapers on the above subject. Brief facts are that a gang of 6 persons led by so called Sh. V.D.Goyal, Investigation Officer of Income Tax Department raided the house of Dr. Mohan Pandey, Saharanpur(U.P.) on 18/04/2012. They claimed that they belong to the Office of the CIT, Luckno...

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Income tax department raids Lilavati Hospital

Income Tax - The income tax department Monday raided the prestigious Lilavati Hospital here that is frequented by VVIPs, officials said. The raids began at around 9 a.m. in the hospital and the office of the trust which manages it, both located in the same premises in Bandra west. The hospital, worth an estimated Rs.7 billion, is at the centre of a b...

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Income tax department search premises of TDP MP Nama Nageswara Rao

Income Tax - Income tax department officials on Friday conducted searches in the office and residence of TDP MP Nama Nageswara Rao. I-T officials raided Nageswara Rao's construction firm Madhucon in his native Khammam town besides premises at Hyderabad, sources s...

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Income Tax raids on Katrina Kaif and Priyanka Chopra

Income Tax - Mumbai: TV channels have reported that Income Tax department have raided the premises of Bollywood divas Katrina Kaif and Priyanka Chopra. Raids began early morning at the official and residential premises of the two actresses. The reason for rai...

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Recent Posts in "Income Tax raids"

CBDT Clarifies Regarding Prosecution of Tax Evaders

Effective and Stringent Action only in known and big cases of Tax Evasion to Demonstrate to the Large Number of Compliant Tax Payers that the Tax Laws are just and Fair and to Encourage Voluntary Tax Compliance It has been noticed that the certain section of media have referred to the Discussion Paper, circulated during […]...

Read More
Posted Under: Income Tax |

Happy Diwali with crackers of Income Tax

Arjuna: Krishna, Which may be biggest cracker if we correlated with the Income Tax Provision? Krishna: Arjuna, listen gladly, the salesmen in the market sells different types of crackers likewise there are various provisions in various laws. Accordingly in Income tax the biggest cracker is the cracker that explodes in 6 different ways, w...

Read More
Posted Under: Income Tax | ,

Income Tax RAID – understanding Survey Vs. Search

Often termed as Raid by laymen, income tax survey and search are becoming increasingly common as businesses continue to grow. Apparently, there is no word called raid in the Income Tax Act. The two important tools which the department uses are survey and search and when one or both of these two operations get initiated, people term it as ...

Read More
Posted Under: Income Tax | ,

How to prevent Income Tax Raids, Searches & Seizures

What leads to income tax raids, searches and seizures? The main reasons are non-compliance with summons under Section 131(1) of the Income Tax Act, 1961, (hereinafter referred to as the Act) or a notice under Section 142(1) of the Act (described in Chapter VII, infra), likely non-compliance with such summons or notice, or the possession o...

Read More
Posted Under: Income Tax | ,

Fake Income Tax Raid at Saharanpur

Recently there have been large number of news in daily newspapers on the above subject. Brief facts are that a gang of 6 persons led by so called Sh. V.D.Goyal, Investigation Officer of Income Tax Department raided the house of Dr. Mohan Pandey, Saharanpur(U.P.) on 18/04/2012. They claimed that they belong to the Office of the CIT, Luckno...

Read More
Posted Under: Income Tax |

Income tax department raids Lilavati Hospital

The income tax department Monday raided the prestigious Lilavati Hospital here that is frequented by VVIPs, officials said. The raids began at around 9 a.m. in the hospital and the office of the trust which manages it, both located in the same premises in Bandra west. The hospital, worth an estimated Rs.7 billion, is at the centre of a b...

Read More
Posted Under: Income Tax |

Income tax department search premises of TDP MP Nama Nageswara Rao

Income tax department officials on Friday conducted searches in the office and residence of TDP MP Nama Nageswara Rao. I-T officials raided Nageswara Rao's construction firm Madhucon in his native Khammam town besides premises at Hyderabad, sources s...

Read More
Posted Under: Income Tax |

Income Tax raids on Katrina Kaif and Priyanka Chopra

Mumbai: TV channels have reported that Income Tax department have raided the premises of Bollywood divas Katrina Kaif and Priyanka Chopra. Raids began early morning at the official and residential premises of the two actresses. The reason for rai...

Read More
Posted Under: Income Tax |

Onion prices to rise, Income Tax raids continue

In a move that could further push up Onion prices, traders in Nashik and adjoining areas today went on two-day strike against tax raids and disrupted supply to contracting traders from other states who are being forced to sell the vegetable at 'below...

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Posted Under: Income Tax |

Income Tax Raids on builder unearth Rs. 80-crore concealed income

The income tax (I-T) department stumbled upon Rs 80 crore worth concealed of income during raids on a Santacruz builder on Saturday and Sunday. The investigation wing of the department conducted raids on Rawal Builders after getting information that ...

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Posted Under: Income Tax |
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