income tax department

(Vodafone willing to discuss tax demand (Lead, superseding previous story)


September 21st, 2012 - 12:40 am ICT by IANS
New Delhi, Sep 20 (IANS) Britain-based telecom service provider Vodafone Thursday said it was willing to discuss a tax demand of Rs.11,000 crore but remained non-commital on paying a lesser ... Read more...

Posted in Business |

Make transcripts of 5,800 Radia tapes: Apex court (Lead)


September 6th, 2012 - 10:50 pm ICT by IANS
New Delhi, Sep 6 (IANS) The Supreme Court Thursday told the Income Tax Department to prepare the transcripts of former corporate lobbyist Niira Radia's 5,800 telephone conversations tapped over allegations ... Read more...

Posted in Business |

Advance Pricing Agreement norms come into effect


August 31st, 2012 - 10:37 pm ICT by IANS
New Delhi, Aug 31 (IANS) Advance Pricing Agreement (APA) norms, introduced in this year's Budget, have come into effect from Aug 30, 2012, an official release said Friday. An APA ... Read more...

Posted in Business |

Now you can call an expert home for filing IT return


July 24th, 2012 - 7:27 pm ICT by IANS
New Delhi, July 24 (IANS) The government Tuesday announced a new scheme under which any tax payer can seek online help or call an expert home for a nominal fee ... Read more...

Posted in Business |

Small mistake can lead to long delays in tax refunds


July 23rd, 2012 - 6:16 pm ICT by IANS
New Delhi, July 23 (IANS) Tax payers should take precautions and avoid small mistakes while filing the returns as it usually leads to long delays in refunds, experts said.Delay in ... Read more...

Posted in Business |

File income tax return online: It’s easier, secure


July 16th, 2012 - 11:02 am ICT by IANS
New Delhi, July 16 (IANS) As the July 31 deadline for filing income tax returns looms, there is usually a huge rush among the taxpayers. To avoid the long queues ... Read more...

Posted in Business |

Poll panel keeping tabs on Himachal government actions


July 12th, 2012 - 7:03 pm ICT by IANS
Shimla, July 12 (IANS) Though dates for the assembly elections in Himachal Pradesh are yet to be announced, the Election Commission Thursday said it is keeping a close tab on ... Read more...

Posted in Politics |

E-filing of returns must for people earning over Rs.10 lakh


July 2nd, 2012 - 7:29 pm ICT by IANS
New Delhi, July 2 (IANS) The government has made it compulsory for the people earning more than Rs.10 lakh to file their income tax returns electronically.The Central Board of Direct ... Read more...

Posted in Business |

Superstar Mohanlal booked for possessing elephant tusk


June 14th, 2012 - 10:22 pm ICT by IANS
Kochi, June 14 (IANS) Eleven months after Income-Tax department officials searched superstar Mohanlal's houses here, a case has been registered against him for keeping an elephant tusk at his home, ... Read more...

Posted in Environment |

Tax cases settled before April 1 won’t be reopened: Mukherjee


May 30th, 2012 - 5:19 pm ICT by IANS
New Delhi, May 30 (IANS) In a bid to soothe investors' concerns over retrospective amendments to tax laws, Finance Minister Pranab Mukherjee Wednesday said the government would not reopen ... Read more...

Posted in Business |

IT department’s biggest office in Delhi opens Wednesday


May 29th, 2012 - 8:13 pm ICT by IANS
New Delhi, May 29 (IANS) Finance Minister Pranab Mukherjee will inaugurate Wednesday a new office of income tax department at the tallest building in the national capital.Spread over 12 ... Read more...

Posted in Business |

2G: Apex court allows review plea withdrawal (Second Lead)


May 10th, 2012 - 9:19 pm ICT by IANS
New Delhi, May 10 (IANS) The Supreme Court Thursday allowed the government to withdraw its petition seeking a review of the apex court verdict cancelling 122 licences that were ... Read more...

Posted in Politics |

Government hasn’t directed reopening Vodafone-type cases: Palanimanickam


May 8th, 2012 - 9:49 pm ICT by IANS
New Delhi, May 8 (IANS) The government has not directed the income tax department to reopen cases similar to Vodafone's, parliament was informed Tuesday."The decision to reopening or not reopening ... Read more...

Posted in Business |

Vodafone was told about tax liability in Hutchison deal


May 2nd, 2012 - 6:52 pm ICT by IANS
New Delhi, May 2 (IANS) The Indian government Wednesday said Vodafone Plc was duly informed about its tax liability in the $11.2 billion acquisition of Hutchison's stake in Hutchison-Essar ... Read more...

Posted in Business |

Tax law change may yield Rs.40,000 crore: Government


April 24th, 2012 - 7:42 pm ICT by IANS
New Delhi, April 24 (IANS) The proposed retrospective changes in the income tax law that seeks to bring overseas transactions involving Indian assets into the tax net is likely ... Read more...

Posted in Business |

Munda recommends CBI probe in Rajya Sabha polls


April 19th, 2012 - 8:20 pm ICT by IANS
Ranchi, April 19 (IANS) Jharkhand Chief Minister Arjun Munda Thursday recommended a CBI probe in the 2010 and 2012 Rajya Sabha polls, it was officially stated here.The Election Commission of ... Read more...

Posted in Uncategorized |

Court asks Andhra to reconsider probe official’s transfer


April 16th, 2012 - 6:38 pm ICT by IANS
Hyderabad, April 16 (IANS) The Andhra Pradesh High Court Monday suggested that the state government reconsider the transfer of an official of the Anti-Corruption Bureau (ACB), who was heading the ... Read more...

Posted in Uncategorized |

Mallya promises to pay employees


April 2nd, 2012 - 3:50 pm ICT by IANS
New Delhi/Mumbai, April 2 (IANS) In a bid to avert unrest over delayed salaries, Kingfisher Airlines chairman Vijay Mallya has wtold his staff that their dues will be paid in ... Read more...

Posted in Uncategorized |

Poll panel stops Jharkhand Rajya Sabha poll, urges cancellation (Intro Roundup)


March 31st, 2012 - 1:51 am ICT by IANS
New Delhi/Ranchi, March 30 (IANS) Amid reports of horse trading in the Rajya Sabha polls, the Election Commission Friday stopped the counting of votes for two seats from Jharkhand ... Read more...

Posted in Politics |

Income tax department attaches Unitech shares in Uninor


March 28th, 2012 - 8:48 pm ICT by IANS
New Delhi, March 28 (IANS) Mobile service provider Uninor Wednesday said the income tax department had "attached" shares owned by Unitech in its joint venture with Norway's Telenor company."Uninor ... Read more...

Posted in Business |

Opposition wants CBI probe into money seizure


March 22nd, 2012 - 10:37 pm ICT by IANS
Patna, March 22 (IANS) After the income tax department seized Rs.4 crore of money from a businessman-turned-Janata Dal-United treasurer Vinay Kumar Sinha Thursday, the opposition demanded a CBI probe.Rashtriya Janata ... Read more...

Posted in Politics |

Committed to the reforms process: Pranab


March 17th, 2012 - 4:24 pm ICT by IANS
New Delhi, March 17 (IANS) A day after presenting the federal budget for next fiscal, which mostly got negative reviews from analysts and commoners, Finance Minister Pranab Mukherjee said ... Read more...

Posted in Business |

Apex court given report on ex-chief justice Balakrishnan (Lead)


March 12th, 2012 - 6:52 pm ICT by IANS
New Delhi, March 12 (IANS) The government Monday submitted to the Supreme Court the status report of the probe by the income tax department into allegations that relatives of former ... Read more...

Posted in Uncategorized |

Nizam’s family to protest over Rs 9 cr tax demand


March 10th, 2012 - 5:37 pm ICT by IANS
Hyderabad, March 10 (IANS) Fed up with alleged harassment by the income tax department, members of the family of the erstwhile Nizam of Hyderabad are planning protests in Delhi ... Read more...

Posted in Business |

Kingfisher’s scrip falls four percent


March 5th, 2012 - 3:50 pm ICT by IANS
Mumbai, March 5 (IANS) Cash-strapped Kingfisher Airlines' scrip fell 4.36 percent in the early hour of trade at the Bombay Stock Exchange (BSE) at Rs.23 as the company's accounts remained ... Read more...

Posted in Business |

Kingfisher Airlines denies shutdown rumours


March 4th, 2012 - 6:51 pm ICT by IANS
Mumbai, March 4 (IANS) Beleaguered Kingfisher Airlines Sunday refuted speculation that it planned to shut down its operations.A spokesperson said that airline CEO Sanjay Aggarwal had met a group of ... Read more...

Posted in Business |

Income tax scams rising in northeast


February 22nd, 2012 - 9:05 pm ICT by IANS
Guwahati, Feb 22 (IANS) The income tax department said Wednesday that there is an increase in the tax-return related scams of salaried employees in the northeast region.Chief Commissioner of Income ... Read more...

Posted in Business |

Kingfisher blames tax action for flight disruptions


February 20th, 2012 - 8:05 pm ICT by IANS
Mumbai, Feb 20 (IANS) Kingfisher Airlines Monday admitted that the sudden attachment of its bank accounts by the Income Tax Department has led to the crisis affecting its flight operations, ... Read more...

Posted in Business |

All’s well, disruptions due to bird hits: Kingfisher


February 19th, 2012 - 11:58 am ICT by IANS
Mumbai, Feb 19 (IANS) The beleaguered privately-run Kingfisher Airlines (KFA) Sunday declared that despite flight disruptions in the past couple of days, it has not shut down any stations from ... Read more...

Posted in Business |

Radia tapes: SC notice to government on Tata plea (Lead)


February 16th, 2012 - 11:18 pm ICT by IANS
New Delhi, Feb 16 (IANS) The Supreme Court Thursday issued notice to the central government on a plea by Tata Sons chairman Ratan Tata seeking a copy of the income ... Read more...

Posted in Business |

Radia tapes: SC notice to government on Tata plea


February 16th, 2012 - 10:10 pm ICT by IANS
New Delhi, Feb 16 (IANS) The Supreme Court Thursday issued notice to the central government on a plea by Tata Sons chairman Ratan Tata seeking a copy of the income ... Read more...

Posted in Business |

India Inc cries foul over new IT order


January 25th, 2012 - 9:16 pm ICT by IANS
Mumbai, Jan 25 (IANS) The corporate world Wednesday expressed "serious concerns" over the directive of the Central Board of Direct Taxes to the Income Tax Department to visit the premises ... Read more...

Posted in Business |

Rs.29 crore in unaccounted cash seized in Punjab


January 23rd, 2012 - 11:08 pm ICT by IANS
Chandigarh, Jan 23 (IANS) Unaccounted cash amounting to nearly Rs.29 crore has been recovered by various agencies in behalf of the Election Commission (EC) in the past few days in ... Read more...

Posted in Uncategorized |

Tax sleuths to verify high-value transactions


January 18th, 2012 - 9:11 pm ICT by IANS
New Delhi, Jan 18 (IANS) The Indian government will run a special drive from Jan 20 to March 20 to verify high-value transactions including investments, deposits and expenditure in a ... Read more...

Posted in Business |

Poll panel keeping eye on large cash withdrawals


January 16th, 2012 - 10:01 pm ICT by IANS
Panaji, Jan 16 (IANS) Large cash withdrawals from banks in Goa are being monitored and the Election Commission of India (ECI) has asked the Reserve Bank of India ... Read more...

Posted in Politics |

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