Income-Tax department detects tax evasion of Rs 700 crore by Mumbai’s Hubtown Group
NEW DELHI: The Income-Tax department on Friday said it has conducted raids at 40 premises of a Mumbai-based real estate firm and claimed to have detected tax evasion worth Rs 700 crore. The CBDT, that frames policy for the tax department, issued a statement saying the operation was conducted on July 29 on a “prominent […]
Income Tax Department attaches Rs 254 crore worth of ‘benami’ equity of Ratul Puri
NEW DELHI: The Income Tax Department has attached Rs 254 crore worth of “benami” equity of Ratul Puri which he had allegedly received from a suspect in the AgustaWestland VVIP chopper scam case via shell companies, officials said on Tuesday. Puri is the nephew of Madhya Pradesh Chief Minister Kamal Nath. They said a provisional […]
IT dept attaches Rs 400 crore ‘benami’ plot of Mayawati’s brother, wife
NEW DELHI: The Income-Tax Department has attached a ‘benami’ plot worth Rs 400 crore in Noida belonging to BSP supremo Mayawati’s brother and his wife, an official order said. The provisional order for the attachment of the seven-acre plot, “beneficially owned” by Anand Kumar and his wife Vichiter Lata, was issued on July 16 by […]
Link your PAN with bank for refunds
NEW DELHI: The Income Tax Department will “only” issue refunds via the e-mode into bank accounts of taxpayers beginning next month and they should link PAN with their accounts, the taxman said in its latest public communication. The department said refunds will be sent to bank accounts as it will issue “only e-refunds from March […]
Income Tax department seeks details of income earned by Sachin, Binny Bansal from Walmart deal
NEW DELHI: The Income Tax department has written to Flipkart founders Sachin and Binny Bansal seeking to know the details of the income earned following their share sale to US retail giant Walmart and when they would be depositing the advance tax, an official said. As per the Income Tax laws, both Sachin and Binny […]
Income tax department raids on Deepak Fertilisers
NEW DELHI: Deepak Fertilisers and Petrochemicals Corporation on Friday said the income tax department was carrying out search and seizure operations in the company’s office premises and plants since on Thursday. “The search and seizure operations are still continuing, and the company is extending full cooperation,” the Pune-based company said in a regulatory filing. The […]