I T

Income Tax collection at record Rs 10.03 lakh cr during 2017-18; 6.92 cr I-T returns filed , says CBDT

CBDT said that during 2017-18, a record number of 6.92 crore I-T returns were filed, which was 1.31 crore more than 5.61 crore returns filed in 2016-17

Unravelling PNB rot: Hong Kong module in over Rs 13,000 cr scam comes under India scanner

The Firstpost investigation revealed that PNB's board, audit committee and banking regulator, Reserve Bank of India (RBI) had approved little-known Chinese audit firms

Income Tax dept freezes Cognizant's bank accounts in Chennai, Mumbai after firm failed to pay Rs 2,500 cr DDT

Cognizant's accounts were frozen a week back and it had approached the High Court against the tax department

Budget 2018: Will Arun Jaitley offer a surprise income tax cut to salaried employees?

In the upcoming budget, the overall exemption limit available to salaried employees under various sections of Income Tax Act needs a re-look to broaden the scope for savings

Bitcoin rally: Income tax sleuths conduct surveys on 9 major exchanges, detect HNI entries

Sleuths detected a number of high net worth individuals (HNIs) and customer IDs in these databases and prima facie about 20-25 lakh such entities have been traced.

Karnataka minister DK Shivakumar, family summoned by Income Tax Department for tax evasion

The Income Tax Department (I-T)has summoned Karnataka energy minister DK Shivakumar and his family members to appear before it on Monday in connection with searches conducted at his properties in August for alleged tax evasion.

Benami land deal: Lalu Prasad's daughter Misa Bharti quizzed by I-T officials for five hours in Delhi

Rashtriya Janata Dal (RJD) chief Lalu Prasad Yadav's daughter Misa Bharti on Wednesday appeared before the Income Tax Department officials in Delhi in connection with over Rs 1,000-crore benami (proxy) land deals case, an official said.

I-T dept slaps benami transaction charges on Lalu Prasad Yadav, family in land deal case

The I-T Department has charged family members of RJD chief Lalu Prasad, including his wife, son and daughters, under the Benami Transactions Act in connection with its probe into land deals worth Rs 1,000 crore and tax evasion.

I-T dept sends notice to AAP over alleged tampering of donation records

The Income Tax department on Tuesday issued a notice to the AAP asking why it should not be prosecuted for alleged falsification of account books.

I-T sleuths unearth Rs 21,454 crore undisclosed income in last 2 fiscal years

As part of enforcement measures and based on credible evidence of tax evasion and other serious violations of provision of the Income-tax Act, the Income Tax Department (ITD) conducts searches on various persons including companies and individuals