Income Tax raids

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 bitter family feud. Full Article

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 Full Article

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 Full Article

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 Full Article

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 Full Article

Mumbai could lose at least Rs 5 crore a day for the next few days because there will be no Income Tax (I-T) raids and surveys, during which a large chunk of tax is collected. Nearly 90 per cent of the I-T department’s staff across the country has decided to not to take part in surveys and raids from Tuesday as a mark of protest. Full Article

Income tax department in the past has stumbled up on many strange things, but nothing as strange as a company exclusively providing bogus stock contract notes to evade taxes, a trail that may lead to it knocking on the doors of many auditors. The Mumbai I-T department estimates that around Rs 1,000 crore of taxes may have been evaded by producing these bogus investment losses, and it now knows the beneficiaries too, a senior department official in the know of things sai.. Full Article

Tax evasion in Mumbai may now become more difficult as taxpayers will have to deal with a cyber-savvy income-tax department. The IT department has recently adopted a technology to track down fraudulent electronic transactions even after they are deleted from computers. The department has a Cyber Forensic Lab in Mumbai that consists of advanced technological [...] Full Article