Income-Tax Department

Income-Tax Department News

Walmart-Flipkart deal to face scrutiny from income tax dept

“Since the company (Flipkart) derives substantial value of its shares from the assets held in India, it would be liable for taxation here. The company has been informed about the Sections of the Income-tax Act that would be applicable,” a senior tax official said.

Income-Tax department unearths undisclosed income of Rs 7,961 cr

Prime Minister Narendra Modi on November 8, 2016 had announced demonetisation of Rs 1,000 and Rs 500 notes in a major assault on black money, fake currency and corruption.


CBI says it has found no evidence of 'crime' in Radia tapes so far

The apex court will take cognizance of the status report next week.

From the FIR: Parakh & Co denied coal block to Hindalco,then did U-turn

CBI claims to have found unaccounted sum of Rs 25 crore during search at the Hindalco office.

Balakrishnan kin still has I-T notice pending

The assessment wing of the I-T in Kochi had issued demand notices to Balakrishnan’s son-in-law and his wife.

I-T carries out raids at diamond firms in Surat,BJP MP protests

These raids are a follow-up action of several documents recovered from Mumbai’s diamond traders.


3 city hospitals evading Rs 4 cr tax: I-T dept

The income-tax department during its tax evasion survey found out that in three prime health care facilities in the city the source of funding of the residential and commercial buildings which they had set up was dubious

'Bribe diaries': MP govt,BJP back ministers

BHOPAL: The Madhya Pradesh government and the ruling BJP threw their weight behind senior ministers Laxmikant Sharma and Rajendra Shukla whose names allegedly figure in bribe diaries seized by the Income-Tax department. Accusing the Central government of misusing investigating agencies to settle scores,the BJP alleged the Congress had lost ground in Madhya Pradesh and was trying to make up for it by leaking selective documents to damage reputations. Maintaining that Sharma and Shukla will not resign,state BJP chief Narendra Tomar and Industry Minister Kailash Vijayvargiya said that diary entries were no proof of someone’s involvement or guilt. “The I-T department itself did not consider the documents serious enough to raise tax demands or serve any notice on the ministers,’’ they said. ENS

Special counters for I-T returns,first person to get a bouquet

The Vadodara office of Income-Tax Department is planning to greet the first person with a bouquet who turns up at the counter to file income returns at its Aayakar Bhavan office.

I-T dept sends Munde notice

The Income-Tax department served a notice on Wednesday to deputy Leader of Opposition in Lok Sabha Gopinath Munde,who recently admitted