CHENNAI: The income tax department searched five locations in Chennai and Madurai on November 4 in a case involving a Chennai-based IT infrastructure group. Unaccounted income for a sum of Rs 1,000 crore was found, according to an official statement from the income tax department. The IT department said it …
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The Income Tax (TI) department on Wednesday raided a Tamil Nadu-based group that ran multiple educational institutions and the action had led to the detection of alleged tax evasion worth roughly ₹150 crore, the CBDT said today. Searches were carried out at 22 locations in Coimbatore, Erode, Chennai and Namakkal …
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Apple has announced that app prices and in-app purchases on the App Store will increase in India and at least five other countries, including Brazil, Colombia, Indonesia, Russia and South Africa. According to details shared by the company on its developer website Monday, the increase in App Store app prices …
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The Income Tax Department carried out raids Monday on a large network of entry-level scammers who generated cash through false billing. Search operations were carried out at 42 locations in Delhi-NCR, Haryana, Punjab, Uttarakhand and Goa. According to a press release issued by the department on Tuesday, documents showing accommodation …
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By: ENS Economic Bureau, edited by Explained Desk | New Delhi | Updated: October 24, 2020 7:00:48 pm The deadline for filing personal income tax returns for the 2019-20 fiscal year has been extended by one month until December 31. The government has further extended the filing deadlines for income …
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New Delhi: The government said on Saturday that the due dates for filing income tax returns and tax audit reports for fiscal year 20 for various classes of taxpayers have been extended to give taxpayers more time to comply. The government also, with the advice of the federal tax body, …
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India’s income tax law provides special benefits to elderly residents and the very old. A person between 60 and 80 years of age is called a “senior citizen” and a person over 80 is a “citizen of very old age”. The income tax benefits available to seniors and seniors range …
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That doesn’t mean he’s not a billionaire. By pairing money-making companies with spectacular money losers, the Trump Organization has been able to protect the profits generated by office property and “The Apprentice” from tax collectors. It’s an improved version of the formula implemented by the American homeowner class for decades. …
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The Permanent Court of Arbitration in The Hague ultimately ruled in favor of telecoms giant Vodafone in an investment treaty arbitration (ITA) dispute against India, initiated under the India-Netherlands Bilateral Investment Treaty (BIT). This ruling marks the culmination of nearly a decade of bitter tax dispute between India and the …
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Starting Friday, all income tax appeals will be faceless. Unveiled by Prime Minister Narendra Modi in August, the faceless evaluation scheme “will honor honest taxpayers of income tax in the country.” Under a faceless scrutiny assessment, a central computer collects the tax returns for scrutiny based on risk parameters and …
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