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Income Tax Department conducts search operations in Madhya Pradesh

The Income Tax Department initiated search and seizure operations on two major business groups of Indore on 25.11.2021. The first group is engaged in the business of mining, media and providing cable TV services and the second group is running a coaching academy. The search action has covered more than 70 premises in Madhya Pradesh and...

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Posted Under: Income Tax |

Income Tax Dept searches leading dairy & milk products group in Pune

Income Tax Department conducts search operations in Pune, Maharashtra The Income Tax Department has initiated search and seizure operations on a leading group of Pune, engaged in dairy farming and milk products, on 25.11.2021.  The search action covered more than 30 premises spread over 6 cities in India. During the course of search...

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Posted Under: Income Tax |

Income Tax Dept searches a real estate group in Mumbai & Navi Mumbai

Income Tax Department conducts search operations on a real estate group in Mumbai and Navi Mumbai Region of Maharashtra The Income Tax Department initiated search and seizure operations on a real estate group, engaged in the construction of residential and commercial projects, in Mumbai and Navi Mumbai Region on 25.11.2021. The group is ...

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Posted Under: Income Tax |

Kerala High Court Admits Challenge Against Faceless Assessment Procedure

The Kerala High Court, today admitted a batch of Writ Petitions challenging the constitutional validity of the Faceless Assessment Procedure under Section 144B of the Income Tax Act. The Court had also stayed all further proceedings pursuant to the assessments made against the assessee in the particular cases. The assessee challenged the ...

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Posted Under: Income Tax |

Representation on Issues in Registration of Charitable institutions due to order of CITs

BCAS representation in regard to the conditions set out in various orders of registration granted to Charitable institutions in response to applications preferred  under section 12A(1)(ac) and the first proviso to section 10(23C) of the Income Tax Act 1961. Bombay Chartered Accountants Society  Harnessing Talent and Providing Quality Se...

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Posted Under: Income Tax |

Income Tax Department conducts search operations in Rajasthan

Income Tax Department initiated search and seizure operations on a group engaged in manufacturing and export of jewellery and coloured gemstones at Jaipur on 23.11.2021. The search action covered more than 50 premises at different locations in and around Jaipur....

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Posted Under: Income Tax |

UP CM & FM Inaugurate Income Tax Office Complex at Lucknow

Chief Minister of Uttar Pradesh Shri Yogi Adityanath and Union Finance Minister Smt. Nirmala Sitharaman Inaugurate Income Tax Department’s Office Complex, the new ‘Pratyaksh Kar Bhawan’, at Lucknow. The Income Tax Department’s new Office Complex, the ‘Pratyaksh Kar Bhawan’, at Lucknow was inaugurated today i. e. 26.11.2021 by ...

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Posted Under: Income Tax |

Income Tax Dept searches two major real estate developers of Ludhiana

The Income Tax Department initiated search and seizure operations on two major real estate developers of Ludhiana on 16.11.2021. The search action covered around 40 premises in Ludhiana....

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Posted Under: Income Tax |

Income Tax Dept search business concerns controlled by a neighbouring country

Income Tax Department conducts search operations in Maharashtra, Gujarat and Delhi on certain Indian companies and their associate concerns, controlled by a neighbouring country The Income Tax Department has carried out search and seizure operations on certain Indian companies and their associate concerns, controlled by a neighboring coun...

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Posted Under: Income Tax |

India & USA agree on a transitional approach on Equalisation Levy 2020

On October 8, 2021, India and United States joined 134 other members of the OECD/G20 Inclusive Framework (including Austria, France, Italy, Spain, and the United Kingdom) in reaching agreement on the Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalization of the Economy....

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Posted Under: Income Tax |