In mounting troubles for Congress amid Lok Sabha poll campaign, the Income Tax Department has issued demand notice of about Rs 1700 crore to the party, sources said. They said the fresh demand notice is for assessment years 2017-18 to 2020-21 and includes penalty and interest. The Delhi High Court […]
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Income Tax Department conducts search operations in Delhi
Income Tax Department has conducted search operations on a taxpayer in Delhi who has created a beneficiary trust and an underlying company in low tax overseas jurisdiction. The department initiated search action on November 24, 2021. The residence and business premises of the assessee were covered in the search action, the Ministry of Finance informed […]
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Income Tax Department conducts searches in Karnataka
The Income Tax Department has carried out search and seizure operations on a Karnataka group engaged in the civil construction of roads and irrigation projects. The search initiated on October 28, 2021, was conducted at various premises located in North Karnataka. As per a press release issued by the Ministry of Finance on […]