I-T department busts Rs 3,300-crore hawala racket involving infrastructure firms
The raids to unearth the large tax evasion nexus were conducted in the first week of this month on 42 premises in Delhi, Mumbai, Hyderabad, Erode, Pune, Agra and Goa on a group of people indulging in issuing bogus bills and carrying on hawala transactions. Hawala denotes illegal transaction of funds by skirting the legal banking channels.
Income Tax dept raids ex-Karnataka dy CM's residence, others in tax evasion probe
The department took the action as part of its probe to chec...
Shivakumar's brother, DK Suresh appears before ED
This comes two days after the Delhi court extended Congress leader Shivakumar's judicial cu...
Income Tax dept seizes Rs 30 cr paintings in tax evasion probe against Kuldeep Bishnoi
Sources said the department had got the valuation of the seized paintings done by government-approved experts and their total value is about Rs 30 crore.
India's fiscal deficit goals threatened by tax evasion as demand wanes
There have been many cases of bogus billings, tax evasion and fake invoicing, according to PwC.
India ratifies OECD's convention to check tax evasion
The multilateral convention is an outcome of the OECD/G20 project to tackle base erosion and profit shifting.
HNIs using remittances plan to evade taxes: SIT
Under LRS, there is no restriction on use of funds remitted abroad. The SIT believes the situation is serious.
I-T raids top Mumbai realtor in Rs 700 crore tax evasion case
The raids are still continuing and the IT sleuths have unearthed various incriminating evidences pertaining to the tax evasion by the group whose identity has not been revealed.
I-T raids two manufacturers of steel rods, seizes Rs 4.7 crore
The team also seized incriminating documents and digital evidences showing unaccounted cash sales, the IT department said in a press release.
I-T summons Naresh Goyal in tax evasion case
The case is related to alleged irregularities in dealings between Jet and Dubai-based cos.
Cabinet approves ratification of OECD's multilateral convention to check tax evasion
The Union Cabinet, headed by Prime Minister Narendra Modi approved the ratification of the convention.
Rajasthan High Court rules Benami Amendment Act, 2016, can’t be effective retrospectively
The new ruling allows the tax office to confiscate property and put the real owners and benamidar behind bars.
Improving the Tax net: FM Nirmala Sitharaman talks tough on evasion
Finance Minister Nirmala Sitharaman on Wednesday asked taxmen to firmly deal with those who try to evade taxes and game the system but act a...
DRI arrests Future Enterprises CFO for evasion of customs duty
The company was importing readymade garments from Bangladesh through Petrapole Land Customs Station (LCS) without payment of basic customs duty, availing of SAFTA benefit.
IT department vetting GST, civic licences in Madhya Pradesh, Chhattisgarh to widen tax net
Letters were also sent to municipal commissioners to introduce a column for PAN details in the application form of shop and establishment licences.
Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service