The Income Tax Department will launch an e-campaign for the Advance Tax for FY 2023-24. Through the e-campaign, persons/entities carrying out significant financial transactions will be informed through email/SMS to urge them to compute and deposit their due advance tax on or before March 15, 2024. “The Income Tax Department has received certain […]
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Income Tax Dept conducts searches on premises of pharma group in Delhi NCR, Haryana
The Income Tax Department carried out search operations on the premises of a pharmaceutical group in Haryana and Delhi-NCR and seized cash and assets worth over Rs 8 crore. The search operation was carried out on June 29 covering 25 premises in Delhi-NCR and Haryana. The Income Tax Department seized a large number of […]
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Income Tax Dept starts investigation against UP businessman Piyush Jain
The Income Tax Department has started the investigation against Kanpur-based perfume businessman Piyush Jain. Notably, the Directorate General of GST Intelligence (DGGI) had recovered over Rs 194.45 crore cash, 23 kg gold and 600 kg sandalwood from the factory premises of Piyush Jain in December last. A joint team of […]
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Income Tax Dept detects Rs 400 crore suppression of income in India by multinational telecom firm
The Income Tax Department said on Thursday it has detected suppression of income of Rs 400 crore during a raid conducted at various premises linked to a multinational telecom group. “The ultimate shareholding of the group lies with a foreign entity of a neighbouring country. The searches, which were spread […]
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Income Tax dept conducts searches in Bihar, Jharkhand, seizes Rs 5.71 cr
The Income Tax (I-T) Department carried out a search and seizure operation on a prominent road construction contractor in Bihar and Jharkhand. The search action was initiated on October 27 at various premises located in Bihar, Jharkhand, Maharashtra, and West Bengal. The searches revealed that the group has been suppressing its profits by inflating expenses on the […]