Photo: First Post
Income Tax Department Conducts Multiple Raids Amid Tax Evasion
The income tax department launched multiple raids as part of a tax evasion probe against registered unrecognised political parties (RUPP) and their alleged dubious funding. Conducted on September 7, the raids were carried out in Gujarat, Delhi, Uttar Pradesh, Maharashtra, Haryana and some other states. The surprise raid was in the view of suggestion of the Election Commission, amid alleged tax evasion by companies.
Tags: Tax Evasion, Income Tax Department, Political Parties, Delhi, Pan India Raids
Courtesy: The Free Press Journal
Photo: The Indian Express
IT Raids At Shiv Sena Members, Party Criticises BJP
Income Tax department raided the office and residence of Shiv Sena leaders and Maharashtra ministers Aaditya Thackeray, Anil Pranab. The raid was carried out in Mumbai and Pune. Besides ministers, Pranab's chartered accountant's house was also raided at Bandra. Before this, IT also conducted raids at many BMC contractors properties. The Shiv Sena Government criticised the BJP and lashed out at these baseless raids against the Maharashtra… read-more
Tags: Maharashtra, Shiv Sena, Party leader, Income Tax, Income Tax Department
Courtesy: The Free Press Journal
Photo: The Shillong Times
IT Department Raids Chinese Mobile Companies And Fintech In Major Cities
The Income Tax Department started massive searches on leading Chinese mobile companies and Fintech companies in India. The search started on December 21 and is still underway, includes companies like Oppo, Xiaomi, and One Plus. "Raids are going on in Mumbai, Delhi, Bengaluru, Greater Noida, Kolkata, Guwahati, Indore and other regions. The major crackdown was based on an intelligence input of tax evasion, but further details are awaited.
Tags: fintech, Chinese Mobile companies, Tax Evasion, Income Tax Department, metropolitan cities
Courtesy: ANI
Photo: The Indian Express
'3 Crore Taxpayers Successfully Completed Transactions', Says Infosys After Fixing Glitch
After harsh criticism by the government over ongoing errors in the new tax portal, Infosys has highlighted on September 23 that "three crore taxpayers have completed transactions using the site and 1.5 crore tax returns were filed". Based on interaction with over 1200 taxpayers directly, Infosys has fixed the glitches. Reportedly, Infosys is now focusing on steadily increasing the Income Tax E filing.
Tags: Infosys, Tax Portal, Glitches, Government, Income Tax Department
Courtesy: NDTV
Photo: Zee News
Aadhaar, PAN Card Link Mandatory Before March 2022; Govt Extends Deadline
The date for linking Aadhaar and PAN cards has been extended by the government from September 30 to March 31, 2022. An extension of 6 months has been granted. Linking the PAN with the Aadhaar is mandatory to avoid making PAN inoperative. Inoperative means one would not be allowed to make transactions. Moreover, one can reach the e-filling website of the Income-tax Department to link the two.
Tags: pan card, Aadhaar Card, panaadhaar card linking, Income Tax Department
Courtesy: The Financial Express
Photo: Analytics India Magazine
Infosys Gets September 15 Deadline To Fix Glitches Faced By Taxpayers
After users couldn't access the Infosys portal for two consecutive days, Finance Minister Nirmala Sitharaman gave the deadline of September 15 to fix the glitches. Two meetings regarding the issues faced by taxpayers were held with Salil Parekh, Infosys MD and CEO, on August 23. The Income Tax Department released a statement saying that Parekh stated they “are doing everything to ensure the smooth functioning of the portal.”
Tags: Infosys, finance minister nirmala sitharaman, Income Tax Department, Glitches, Taxpayer
Courtesy: The Indian Express
Photo:Dainik Bhaskar
Income Tax Department Raids Dainik Bhaskar's Offices
In correspondence with the tax evasion case, Income Tax Department is conducting search operations at Dainik Bhaskar's office in Bhopal, Jaipur, Ahemdabad, and various other locations across India. Besides, promoters' residences and offices are being targeted. Former Madhya Pradesh CM Digvijaya Singh said on Twitter that authorities "are present" at half a dozen premises of the bunch, as well as at the office at Press Complex in Bhopal.
Tags: Income Tax Department, Dainik Bhaskar, Tax Evasion Case, Indian newspapers
Courtesy: Money Control
Photo: The Financial Express
Govt Allows Payment Of Hospital Bills Over Rs 2L In Cash
The Income Tax Department has allowed hospital bills of over Rs 2 lakh to be paid in cash, provided that Aadhar card or PAN has been produced. "Provisions of Section 269ST of IT-Act have been relaxed to allow cash payments of more than Rs two lakh to hospitals for COVID treatment,” tweeted the IT department. It further discarded the claims of appointing officials to keep a check on bill payments.
Tags: Income Tax Department, Covid-19, cash payments, Income Tax, hospital bills
Courtesy: DNA
Photo: DNA India
Govt Defers Timelines For Filing Various Tax Compliances, ITR Till May 31
The Central Board of Direct taxes has extended the timelines for various tax compliances and for filing Income Tax Returns for the 2019-20 fiscal till May 31. Citing the burgeoning COVID-19 situation, the timelines for filing belated returns, ITR, objections to dispute resolution panel and appeals to commissioners were deferred. While the extension decision came after requests by tax consultants and stakeholders, experts suggest further… read-more
Tags: Income Tax, Financial condition, Covid-19, FISCAL YEAR, Income Tax Department
Courtesy: Times of India
Photo: Zee News
IT Deptt Claims Of Rs 650-Cr Discrepancy After Raids On Kashyap, Pannu
Amid the search on entities related to Bollywood celebrities Anurag Kashyap and Tapsee Pannu, the Income Tax department has claimed to unearth discrepancies amounting to Rs 650 crore. Investigating 28 locations in Mumbai by 168 tax officials, it further claimed that the scrutinized production houses were unable to explain the discrepancy of the amount concerned. The team also found bogus expenditure worth Rs 20 crore. However, the celebrities… read-more
Tags: Income Tax Department, Anurag Kashyap, Tapsee Pannu, Tax Fraud
Courtesy: The Indian Express
