ITR filing: Penalty, if you miss the deadline

The last date for your ITR filing for assessment year 2019-20 is August 31, so procrastinators are now beginning to run out of time. Delaying tax filing can prove costly.

Income Tax dept attaches property of Kamal Nath’s nephew Ratul Puri

The Income Tax Department attached the posh Delhi bungalow, which is in the name of a firm of the Moser Baer group, owned and promoted by Ratul Puri’s father Deepak Puri. It also attached ‘Benami’ funds of both of them.…

ACB unearths misdeeds of ousted J&K Bank’s Chairman

The Anti Corruption Bureau (ACB) in Jammu and Kashmir has unearthed several blatant wrongdoings at J&K Bank during the tenure of former Chairman and CEO Parvez Ahmed.

Bengaluru auto driver gets a villa in gift by 72 yr old American friend

Bengaluru Auto Driver’s 1.6 Crore Villa Was A Gift From 72-year-old American Friend The Income Tax department has been intently observing a Bangalorean auto-rickshaw driver named Nalluralli Subramani based on injustice with respect to the ownership and purchasing of his…

Most taxpayers switching to e-filing of ITRs, 6.68 cr e-returns filed: CBDT

6.68 cr e-returns filed during 2018-19, most taxpayers switching to e-filing of income tax returns: CBDT The Central Board of Direct Taxes (CBDT) said on Monday that a total of 6.68 crore income tax returns were e-filed during the financial…

Record breaking poll-time cash of Rs 8 crore seized in Northeast

Poll-time cash seizure of Rs 8 crore in Northeast breaks all previous records The Directorate of Income Tax (Investigation), North East Region (NER) has made cash seizure exceeding Rs 8 crore till 22nd April in the ongoing Lok Sabha elections.…

Nirav Modi’s art collection fetches Rs 54.84 cr at auction

Auction of Nirav Modi’s art collection fetches Rs 54.84 cr The auction of paintings from fugitive diamantaire Nirav Modi’s collection has raised an amount of Rs 54.84 crores. The money will be handed over to the Income-Tax department. 55 out…

IT Dept. to auction Nirav Modi’s 173 paintings and 11 luxury cars.

Paintings, cars of Nirav Modi to be auctioned A special court under the Prevention of Money Laundering Act (PMLA) has granted permission to the Income Tax Department (I-T) to auction the paintings and cars of Nirav Modi, the fugitive businessman…

IT Department attaches assets worth 225 crore of Mayawati’s Ex-aide Netram

IT Dept attaches Rs 225 cr worth assets of Mayawati’s ex-Secy Netram The Income Tax Department has attached assets worth Rs 225 crore of retired IAS officer Netram, a former secretary of BSP supremo Mayawati, in connection with a disproportionate…

Undisclosed cash seized

Rs 1.44 cr undisclosed cash seized in Income Tax raids in Kashmir The Income Tax Department on Friday said it seized Rs 1.44 crore in undisclosed cash and Rs 2.48 crore worth unaccounted jewellery in searches conducted in five locations…