Have nothing to hide: Robert Vadra

After Income Tax Department recorded his statement in connection with Benami property case, Robert Vadra, the son-in-law of Congress interim president Sonia Gandhi, on Monday said that ‘he has nothing to hide’ and the ‘truth will prevail’. Continue Reading

I-T raids continue in TN for 2nd day

The Income Tax department today said it carried out searches on at 22 premises in Coimbatore, Erode, Chennai and Namakkal on a group engaged in the running of Educational Institutions and their associates, including a civil contractor, on Wednesday. Continue Reading

Amid political crisis, I-T raids Rajasthan Congress leaders

The Income Tax Department today raided two aides of Rajasthan Chief Minister Ashok Gehlot, even as a political crisis unfolded in the State due to rebellion by Deputy Chief Minister Sachin Pilot. Continue Reading

NCLAT dismisses IT dept plea against Reliance Jio

The NCLAT has dismissed petitions filed by the Income Tax Department, which raised objection over the approval granted to Reliance Jio Infocomm scheme to hive off its fiber and tower business into two separate units. Continue Reading

IT department cancels 6 Tata Trusts’ registrations

The income tax department has cancelled registration of six Tata Trusts, including Jamsetji Tata Trust, R D Tata Trust and Tata Education Trust, following their decision to surrender the same. The Tata Trusts said the cancellation was a culmination of the decision taken by these six Trusts in 2015 to surrender their registration and to not claim the associated income tax exemptions. Continue Reading

After raid, I-T intensifies probe into Kalki ashram dealings

A day after conducting raids at places linked to self-styled godman Kalki Bhagavan and his son Krishna, the Income Tax department has intensified its probe into the financial and property dealings of the ashram and its associates. Continue Reading

Congress leader Shivakumar’s daughter appears before ED

Karnataka Congress leader D K Shivakumar’s daughter Aishwarya appeared before the Enforcement Directorate here today in connection with its money-laundering probe against him, officials said. Continue Reading

I-T dept running amok to meet India’s revenue shortfall: Rahul

‘The FM (Nirmala Sitharaman) said in her budget speech that an elephant should take just 2 pounds of rice & not trample the entire paddy field,’ Rahul said in a tweet. ‘Meanwhile, the IT dept elephant is running amok in a bid to meet India’s revenue shortfall,’ he said. Continue Reading

Demon effect: CBDT says 1.07 cr new taxpayers added in FY18

The Central Board Of Direct Taxes (CBDT) said 6.87 crore income tax returns (ITRs) were filed during FY 2017-18 as compared to 5.48 crore ITRs filed during FY 2016-17, translating into a growth of 25 per cent, in its recent statement. Continue Reading