IT Dept detects import under-invoicing, tax evasion by laptop firm

New Delhi, October 16 (PTI): The Income Tax Department has detected “large-scale” under-invoicing of imports after it recently raided a trader of laptops and mobile phones, the CBDT said on Saturday. The searches were carried out on October 10 at locations in the National Capital Region, Haryana and West Bengal. “The evidences found and seized… Continue reading IT Dept detects import under-invoicing, tax evasion by laptop firm

Income Tax Dept says Rs 20 cr tax evasion unearthed from Bollywood actor’s premises

New Delhi [India], September 18 (ANI): Income Tax Department on Saturday said that tax evasion worth Rs 20 crore by a Bollywood actor and his associates have been unearthed so far apart from violations of regulations of the Foreign Contribution Regulation Act (FCRA). IT department sources told ANI that searches were conducted in the premises… Continue reading Income Tax Dept says Rs 20 cr tax evasion unearthed from Bollywood actor’s premises

GST officers detect Rs 7,421 cr tax evasion in April-June; recover Rs 1,920 cr

New Delhi, August 3 (PTI): GST officers have detected tax evasion of Rs 7,421 crore in the April-June period of the current fiscal, Parliament was informed on Tuesday. In a written reply to the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary gave details of the total tax evasion detected in GST in the… Continue reading GST officers detect Rs 7,421 cr tax evasion in April-June; recover Rs 1,920 cr

Over 180 people arrested for tax evasion in past 2 months: Union Finance Secretary

New Delhi [India], January 4 (ANI): In the last 1.5 to 2 months over 180 people including managing directors of companies and chartered accountants have been arrested for tax evasion, said Union Finance Secretary Dr Ajay Bhushan Pandey on Monday. Speaking to ANI, Pandey said, “Now we have a software tool via which we have… Continue reading Over 180 people arrested for tax evasion in past 2 months: Union Finance Secretary

GST intelligence detects over Rs 17 cr tax evasion by cement manufacturer in MP

Bhopal, Aug 12 (PTI) The GST intelligence officials have detected over Rs 17 crore tax evasion by a major cement manufacturer in Satna and arrested one of its directors, according to an official statement issued on Wednesday. They also conducted multiple searches in the states of Madhya Pradesh and Uttar Pradesh from August 5 to… Continue reading GST intelligence detects over Rs 17 cr tax evasion by cement manufacturer in MP

GST intelligence officials detect Rs 105 crore tax evasion by Indore-based cigarette manufacturer

Bhopal: GST intelligence officials have detected tax evasion of Rs 105 crore by a cigarette manufacturing firm in Indore in the last one year, according to an official statement issued on Monday. The officials of the Directorate General of GST Intelligence (DGGI) here had conducted searches at the firm”s premises last week that revealed that… Continue reading GST intelligence officials detect Rs 105 crore tax evasion by Indore-based cigarette manufacturer

Revenue Secy asks tax officials to put special effort to check evasion, meet target

New Delhi: Revenue Secretary Ajay Bhushan Pandey on January 3 held a meeting with senior tax officials and asked them to put forward special efforts to check evasion and meet the target set for the current fiscal. It may be recalled, the finance ministry last month had put its GST tax mop up target at… Continue reading Revenue Secy asks tax officials to put special effort to check evasion, meet target

Income Tax dept raids premises linked to ex-Karnataka dy CM

Bengaluru: The Income Tax department on Thursday conducted raids at premises allegedly linked to former Deputy Chief Minister of Karnataka G Parameshwara on charges of tax evasion, officials said. About 20 premises are being covered as part of the searches, they said. The department took the action as part of its probe to check alleged… Continue reading Income Tax dept raids premises linked to ex-Karnataka dy CM

Election Commissioner Lavasa’s wife under I-T dept scanner

New Delhi: Election Commissioner Ashok Lavasa’s wife Novel Singhal Lavasa has come under the scanner of the Income Tax Department on charges of alleged tax evasion, official sources said on Monday. Lavasa’s wife has been issued a notice by the department to explain certain details in her IT Returns (ITR) with regard to holding directorship… Continue reading Election Commissioner Lavasa’s wife under I-T dept scanner

CBDT releases new I-T compounding guidelines; no relief in criminal black money cases

New Delhi: Indulgence in serious criminal cases of money laundering, terror financing, corruption, possession of benami properties and undisclosed foreign assets will virtually shut a person’s chances of getting relief in an income tax evasion offence beginning Monday, a latest directive issued by the CBDT said. The policy-making body for the tax department has issued… Continue reading CBDT releases new I-T compounding guidelines; no relief in criminal black money cases