Income Tax department raids BMC contractors
IT said they had conducted search action in Mumbai and Surat on November 6 on entry providers and beneficiaries who have been engaged in execution of civil contracts mainly BMC.
I-T department busts Rs 3,300-crore hawala racket involving infrastructure firms
The raids to unearth the large tax evasion nexus were conduc...
CBDT apprises CEC of I-T action against Lavasa family
The CBDT has recently written to CEC Sunil Arora with details on the alleged income tax...
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 check alleged irregularities in some medical colleges run by a trust.
Fitch raises India's FY20 fiscal deficit forecast to 3.6% of GDP
Fitch said it was revising the fiscal deficit forecast as revenue collection is likely to fall far short of the projections in the FY2019/20 Union Budget due to weak GST and corporate tax collections. Weak revenue collections resulting from sluggish economic growth and government's sweeping corporate tax rate cut were the other reasons, it said.
Shivakumar's brother, DK Suresh appears before ED
This comes two days after the Delhi court extended Congress leader Shivakumar's judicial custody till October 15.
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.
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.
Bank fraud: ED attaches assets of over Rs 4,000 crore of Bhushan Steel
The central probe agency said it has attached land, building, plant and machinery of the firm located in Odisha under the provision of the Prevention of Money Laundering Act (PMLA). .
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.
I-T summons Naresh Goyal in tax evasion case
The case is related to alleged irregularities in dealings between Jet and Dubai-based cos.
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 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.
Tax cuts for the rich is necessary for growth is a mantra that needs to be questioned: Nobel laureate Abhijit Banerjee
Banerjee speaks on tax cuts for the rich, AI and the future of jobs, bad politics, and many other things.
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