Income Tax : In the previous chapter we studied the impact of proposed tax rates and concluded it is more in favour of the rich and not for mid...
Income Tax : A number of infuriated lawyers reportedly attacked the office of the income tax commissioner in Faisalabad (Pakistan) on Monday an...
Income Tax : Indore's Assistant Income tax Commissioner Arun Diwan was on Sunday found murdered at his residence in Ujjain, police said. It ap...
Income Tax : In one of the largest seizures of cash in an income-tax raid on an individual, the department on Tuesday recovered Rs 7.5 crore fr...
Income Tax : In a major operation against alleged tax evasion, officials of the Department of Income Tax carried out simultaneous raids at 20 o...
Income Tax : Corporate India is not the sole critic of the Direct Taxes Code. The code, precursor to a brand new income tax law, has found oppo...
A number of infuriated lawyers reportedly attacked the office of the income tax commissioner in Faisalabad (Pakistan) on Monday and caused damaged to furniture and windowpanes besides manhandling the staff.
Indore’s Assistant Income tax Commissioner Arun Diwan was on Sunday found murdered at his residence in Ujjain, police said. It appears that Diwan (45) was strangulated to death by his assailants and robbery could have been the motive behind the killing, they said.
In one of the largest seizures of cash in an income-tax raid on an individual, the department on Tuesday recovered Rs 7.5 crore from the premises of a reputed nutritionist based in Vile Parle. Nutritionist Sarita Davare is known to have helped several high-profile Bollywood personalities , including Farah Khan, Sonu Niigaam and Hariharan, shed extra pounds in just one sitting.
In a major operation against alleged tax evasion, officials of the Department of Income Tax carried out simultaneous raids at 20 offices and residences of four industrialists, including a Congress leader, and scrutinised their property details here on Friday. Income Tax department unearthed several cases of Income Tax evasion by them. They also seized many documents pertaining to illegal property documents and unaccounted cash among others.
Corporate India is not the sole critic of the Direct Taxes Code. The code, precursor to a brand new income tax law, has found opposition from within government, too. An internal committee of the Central Board of Direct Taxes, the principal policy-maker in the domain, has called for a thorough review of the code, including a revision of the income tax slabs and the definition of ‘income from salaries’.
In the previous chapter we studied the impact of proposed tax rates and concluded it is more in favour of the rich and not for middle income group. A similar view has also been expressed by group of Senior Income Tax Officials in which they have stated “under the garb of providing long term stability in the tax regime, the tax code in fact would widen the rich-poor gap and create more economic absurdities”[BS.21/09/09] In this chapter we propose to discuss the impact of the new code on the salaried persons who are the most efficient tax payers of this country.
The accused, Bhupen Dalal (l) and his son Milan. As per standard procedure, the cupboard had been kept in one of their offices by Income Tax officials. Seventeen years since they started their investigations against Big Bull Harshad Mehta’s associate and securities scam accused Bhupen Dalal and his son Milan, an unbelievable bungle has surfaced in […]
Income tax officials from India could be posted in the tax haven nations to collect information about tax evasion from these countries; if a proposal made by a committee set up to investigate abuse of tax treaties goes through.
Buldhana Urban Co-operative Credit Society, the country’s largest, has come under the taxman’s scanner for suspected money-laundering. A team of Income Tax officials has conducted a search and seizure operation on around 15 premises that include the society’s offices as well as those of its promoter Radheyshyam Chandak and other office-bearers. Some premises related to society’s top officials in Pune, Nasik, and Akola were also covered in the raid. Some godowns owned by the society, used to store agriculture commodities, were also raided.
Service tax evasion on deals of Rs 40 crore sale involving an industrial security service agency was detected during a raid by Suratservice tax officials on Monday. According to officials, who refused to divulge the agency’s name, the raids were conducted after reports of illegal transactions at the official premises of this agency came in. […]
