The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, on Monday gave approval for the PAN 2.0 Project of the Income Tax Department.
Shashi Bhushan Shukla, Commissioner (Investigation), CBDT advised all taxpayers to carefully review their foreign income and assets and report them accurately in their Income Tax Returns (ITRs).
"In SDM sales company, illegal cash worth Rs 40 crore was found where Dinesh Mandal, Sunil Srivastava and Satya Srivastava are shareholders," Dubey stated.
BJP leader Pratul Shahdeo on Sunday took a jibe at Jharkhand Chief Minister Hemant Soren after the latter questioned the timings of the recent raids by Income Tax department in the state.
Jharkhand Mukti Morcha (JMM) leader Manoj Pandey questioned the "motive" behind the raids carried out by the Income Tax department on Saturday with the polling date for the state assembly nears.
The Income Tax department is conducting raids at the residence of Sunil Srivastava, a close aide and personal secretary of Jharkhand Chief Minister Hemant Soren, said sources on Saturday.
The Income Tax Department conducted a survey at the offices of "Truecaller" in Mumbai and Gurugram on Thursday, reportedly in connection with alleged transfer pricing violations, official sources told ANI.
As the preparations for the upcoming elections to 288 Assembly seats in Maharashtra have intensified and the model code of conduct is in force, Mumbai Police have recovered Rs 30 lakh cash from a car and two people were taken into custody on Friday.
The money seized during Nakabandi, conducted on the late evening of October 21, has been handed over to the Income Tax Department for further investigation, said Pune Rural Superintendent Pankaj Deshmukh.
A Special Income Tax Court at Tis Hazari Delhi has refused to give a direction to Forensic Science Laboratory (FSL) Rohini to furnish a comparison report of hand writing regarding a signature allegedly used by an accused to open a bank account in Singapore. The court said that the applica
CAP 2024-25 calls for quick resolution of high-priority tax demand cases, identification of above Rs 2 lakh cash transactions at high-risk sectors like hotels and luxury retailers and widening of the tax base.
An official release by the Income Tax Department stated that Bhupen Kumar Borah's attendance is required in connection with the proceedings under the Income Tax Act 1961.