Tag: Income tax department

Net direct tax mop up rises 23% to Rs 7.04 trillion so far in FY23: CBDT chief

NEW DELHI: The net direct tax collection has increased 23 per cent to Rs 7.04 lakh crore so far this fiscal, the income tax department said on Tuesday. Central Board of Direct Taxes (CBDT) Chairman Nitin Gupta said the income and corporate tax collections were at a record high of Rs 14.09 lakh crore in […]

Income Tax Department detects Rs 550 crore hidden income after raids on Hetero pharma group

NEW DELHI: The Income Tax Department detected “unaccounted” income of Rs 550 crore and seized over Rs 142 crore cash after it recently raided Hyderabad-based Hetero pharmaceutical group, official sources claimed on Saturday. Company officials were not immediately available for comments. The raids were carried out by the tax department on October 6 at about […]

Income Tax Department detects Rs 500 core unaccounted transactions after raids on Gujarat realty group

NEW DELHI: The Income Tax Department has detected unaccounted transactions of over Rs 500 crore after it raided an Ahmedabad-based real estate developer and linked brokers as part of a tax evasion probe, the CBDT claimed on Saturday. “Documents reveal unaccounted income of more than Rs 200 crore in the hands of the real estate […]

Income Tax Department alleges Sonu Sood, associates evaded Rs 20 crore tax, violated FCRA

NEW DELHI: The Central Board of Direct Taxes (CBDT) on Saturday alleged that actor Sonu Sood and his associates evaded tax of Rs 20 crore and claimed that after the Income Tax (IT) Department raided him and a linked Lucknow-based infrastructure group it was found that he routed his “unaccounted income in the form of […]

Income Tax Department detects Rs 1,420 crore undisclosed transaction after raids in Jaipur

NEW DELHI: The Income Tax Department carried out search and survey operations on Thursday (19.01.2021) in Jaipur on three groups, involving one jeweller and two real-estate colonizers and developers. Co-ordinated search operation was conducted at 20 premises and survey was conducted at 11 premises. One of the groups is a prominent builder, developer and colonizer in […]

Gujarat High Court rejects plea to extend deadline for filing tax returns

NEW DELHI: The Gujarat High Court has rejected a plea seeking extension of deadline for filing of returns but observed that the CBDT may take a lenient view on penalty for late filing of tax audit reports. The Income Tax Department had on Monday rejected demand for further extension of the deadline for filing returns […]

IT dept quizzes Robert Vadra for 9 hrs in Benami properties case

NEW DELHI: Income Tax (I-T) department officials on Monday questioned Congress President Sonia Gandhi’s son-in-law Robert Vadra for over nine hours in connection with the probe into the ‘benami’ properties case. However, Vadra described his questioning as “vendetta politics” and said that the government is trying to divert attention from the ongoing farmers’ protest. A […]

Income Tax Department searches in Delhi, Assam unearth Rs 100 crore in undisclosed income

NEW DELHI: The Income Tax Department’s search and survey action against three leading contractors of north-eastern India has led to the alleged unearthing of undisclosed income of nearly Rs 100 crore so far. One of the groups is into hospitality business. The searches have been carried out at 14 locations in Delhi, and Guwahati, Silapathar, […]

Direct tax refunds of nearly Rs 1.37 lakh crore issued in FY21

NEW DELHI: The Central Board of Direct Taxes (CBDT) has issued refunds of nearly Rs 1.37 lakh crore to over 41.25 lakh taxpayers so far in the financial year 2020-21. The total refund amount includes Rs 36,028 crore of income tax refunds and over Rs 1 lakh crore as refunds on corporate tax, the Income […]

Income Tax Department conducts searches in Delhi- NCR, Haryana, Punjab, Uttarakhand and Goa

NEW DELHI: The Income tax Department has carried out a search and seizure action on 26.10.2020 on a large network of individuals running the racket of entry operation and generation of huge cash through fake billing. The search operations have been conducted on 42 premises across Delhi- NCR, Haryana, Punjab, Uttarakhand and Goa. The search […]

IT raids in NCR unearths advocate’s unaccounted cash, property investments

NEW DELHI:The Income Tax (IT) Department has said that its search and seizure action across Delhi, NCR and Haryana in the case of a leading advocate practicing in the field of commercial arbitration and alternate dispute resolution has led to findings of unaccounted cash and huge investments in posh properties. An official statement, wherein the […]

Income Tax refunds worth Rs 88,652 crore issued to 24.64 lakh taxpayers so far this fiscal

NEW DELHI: The Income Tax department on Friday said it has issued refunds worth Rs 88,652 crore to over 24 lakh taxpayers so far this fiscal. This include personal income tax (PIT) refunds amounting to Rs 28,180 crore issued to over 23.05 lakh taxpayers and corporate tax refunds amounting to Rs 60,472 crore to over […]

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