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IT department hold awareness rally in Ludhiana

DP Correspondent Ludhiana: Income tax Department carried out awareness rally in which large number of students of Khalsa College for women participated on Tuesday. IT department officials created the awareness to pay Income Tax for the development of nation. The rally was flagged off by Chief Commissioner of Income Tax BK Jha and Principal Director

Lok Sabha Elections 2019: Income tax dept sets up control room, toll free helpline to register complaints

DP Correspondent Ludhiana: Following the directions of the Election Commission of India (ECI) to prevent the undue influence of voters by means of money and materials during the ensuing Lok Sabha polls in the state, the Director General Income Tax (Investigation) has set up a dedicated control room centre to receive complaints in this regard. While

CBI looks for banking, tax experts to help probe into multi-crore scams

CBI looks for banking, tax experts to help probe into multi-crore scams

NEW DELHI: The Central Bureau of Investigation (CBI), which is probing the over Rs 13,000 crore Punjab National Bank scam as well as other financial frauds, has sought deputation of banking and tax experts from other ministries with an offer of good monetary incentives.According to an official communique sent by the CBI to finance and

GST 1st Anniversary: Industrialists express blues

GST 1st Anniversary: Industrialists express blues

Jalandhar – A year ago, Goods and Services Tax (GST) was initiated by special midnight session of Parliament to rope in complex taxation system of India. Today on July 1, the government is set to celebrate first anniversary of GST, but small and medium industrialists are still longing for rectification of loopholes they are suffering

Rupee touches all time low, crosses 69 per dollar mark

Rupee touches all time low, crosses 69 per dollar mark

Mumbai(IANS) – The Indian rupee touched an all-time low and breached the 69 per dollar mark on Thursday due to high crude oil prices and weak macro-economic fundamentals.At 2.44 p.m., rupee was at 68.92 against the previous closing level of 68.61 per greenback. The rupee’s last record low was 68.87 per dollar, hit on November

GST evasion of Rs. 2000rc unearthed in 2 months

GST evasion of Rs. 2000rc unearthed in 2 months

NEW DELHI: The GST investigation wing has detected tax evasion of over Rs 2,000 crore in two months, and data analysis reveals that only 1 per cent of over 1.11 crore registered businesses pay 80 per cent of the taxes, a senior official said on Wednesday. CBIC member John Joseph said alike small businesses who

PNB Fraud: Nirav Modi papers gutted in fire at I-T Dept office

PNB Fraud: Nirav Modi papers gutted in fire at I-T Dept office

MUMBAI: Files on absconding jeweller Nirav Modi and his uncle Mehul Choksi apart from several others wanted for economic offences have been destroyed in a major fire at the premises of the Income Tax department on Friday, according to sources here.The fire that broke out at the heritage Scindia House building in South Mumbai’s Ballard

Be an informer to l-T dept; earn up to Rs. 5 crore

Be an informer to l-T dept; earn up to Rs. 5 crore

NEW DELHI: Sharing “specific information” with the income tax department about any benami transaction or property could earn you up to Rs one crore, while the same for undisclosed black money stashed abroad could fetch up to Rs 5 crore. Besides, the ‘Income Tax Informants Reward Scheme’ has also been amended under which a person can

No notification of self-payment of Income tax by ministers, yet

No notification of self-payment of Income tax by ministers, yet

Chandigarh(Narinder Jagga): The Punjab Government could not able to issue the notification in which the Ministers were to pay their income tax from their own pocket. Punjab is the only State in the Country, where the Government has been paying taxes of all ministers and MLAs. Interestingly, the Punjab Assembly has passed this bill along

Supporting document for gender not needed for PAN under transgender category

Supporting document for gender not needed for PAN under transgender category

Supporting document for gender not needed for PAN under transgender category. Need a PAN card under transgender category? No supporting document for gender is required either in fresh application or to change an existing card, the Income Tax Department said today. The department, on April 10, had amended the income tax rules to henceforth allow

Income Tax Department seals Shah Rukh Khan’s Alibaug farmhouse

Income Tax Department seals Shah Rukh Khan’s Alibaug farmhouse. The income tax (IT) department has provisionally attached Shah Rukh Khan’s Deja Vu Farms Pvt Ltd located at Alibaug, a beach town near Mumbai. The attachment notice was issued under the Prohibition of Benami Property Transactions Act (PBPT) in December, reported Business Standard. Shah Rukh Khan’s Deja Vu

Delhi IT Dept raids U & I Vaults, seizes Rs 21 Cr

New Delhi [India], Jan 13 : – The investigation wing of the Delhi Directorate of Income Tax on Friday raided premises of U& I Vaults Limited, and seized items worth Rs 21.2 crore. The seized value includes Rs 8 crore worth of cash, along with jewellery and bullion worth the remaining amount, sources from the

DRI seizes Rs 49 crore in demonetised currency notes

DRI seizes Rs 49 crore in demonetised currency notes

DRI seizes Rs 49 crore in demonetised currency notes. The Directorate of Revenue Intelligence (DRI) today seized nearly Rs 49 crore worth of cash in demonetised Rs 500 and Rs 1000 currency notes from the premises of a company in the GIDC area here.“Acting on specific intelligence, the officers of DRI, Surat, assisted by officers

IT raids top bridal wear showrooms

DP Correspondent Ludhiana The teams of Income Tax department on Wednesday conducted raid at women’s clothing stores which mainly deals in bridal wear including around premises  places in Ludhiana, Khanna, Jagraon and Ambala. The action of Income tax Department led to panic among the businessmen of the Industrial town.The raids were conducted on the directions of Parneet

Panama Papers: ED may summon Amitabh, Aishwarya

Panama Papers: ED may summon Amitabh, Aishwarya

Panama Papers: ED may summon Amitabh, Aishwarya. The Enforcement Directorate has received replies from actor Amitabh Bachchan and his family members to notices issued to them in connection with its probe in the Panama Papers case and they could be summoned soon, officials said. Officials in the anti-money laundering agency said they had issued notices to

Keep an eye on Benami property and get rewarded

Keep an eye on Benami property and get rewarded

Keep an eye on Benami property and get rewarded. If you want to be a millionaire, start keeping an eye on your neighbor’s house. You just need to inform the government regarding any illegal transaction of property by your neighbor. The government, which is preparing for a major action against illegal property, could make a

Properties of CCD chain owner raided

Properties of CCD chain owner

Properties of CCD chain owner raided

Income Tax Department carried out raids on the owner of Cafe Coffee Day chain V G Siddharatha, son-in-law of Former union minister SM Krishna. Income Tax sleuths raided the properties of Siddharatha in Karnataka and also in other cities like Mumbai and Chennai, say reports. VG Siddhartha is said to be among the country’s largest

IT department to focus more on e-assessment to reduce human interface

IT department to focus more on e-assessment to reduce human interface

IT department to focus more on e-assessment to reduce human interface. The Income Tax Department will focus on widening of tax base and maximize e-assessment to cut down on human interface, according to an official statement. Also, efforts will be made by the Central Board of Direct Taxes (CBDT) to exceed the income tax collection

CBI arrested three senior IT officers in corruption case

CBI arrested three senior IT officers in corruption case

CBI arrested three senior IT officers in corruption case New Delhi- The CBI has booked three senior officers of the Income Tax department in connection with alleged entries of payments made to them in a diary recovered during IT raids at a business group’s premises six years ago. The agency has registered an FIR against Sunil