The crackdown highlights the need for taxpayers to exercise caution while claiming deductions for political donations. As investigations continue, the department’s findings could lead to stricter scrutiny of such claims in the future. Taxpayers who have donated to Registered Unrecognised …
The Consignment arrived in Bhubaneswar on Monday by air and was being transported in two vans operated by a Mumbai-based logistics company specializing in jewellery transportation. A large consignment of gold and silver ornaments, seized by state commercial taxes and …
The reform in the Income Tax Act is part of a broader initiative to ensure a more transparent and taxpayer-friendly system. In a significant development, Union Finance Minister Nirmala Sitharaman has revealed plans to introduce a new Income Tax Act …
The incident dates back to May 7, when Tripathy intercepted a vehicle in Jajpur Road, Odisha, carrying 22,240 kg of MS scrap worth Rs. 8,89,600 at Ravana in Jajpur. In a significant development, Vigilance officials arrested Binay Bhusan Tripathy, Assistant …
The proposals to reduce or eliminate the 18% GST rate on health insurance premiums likely to be considered in the upcoming meeting. The 54th GST Council meeting is expected to be convened in Delhi on September 9 to address key …
The MFD association explained that many MFDs, believing they were receiving net commissions, did not secure a GST registration number post-2017. The Odisha MFD Association (Mutual Fund Distributors Association) has approached the GST Commissioner in Bhubaneswar, seeking leniency on penalties …
This ongoing scam has been observed year after year, particularly after the original ITR filing deadline, as scammers attempt to exploit taxpayers eagerly awaiting their refunds. With the recent deadline for filing Income Tax Returns (ITRs) just passed and the …
Earlier in the investigation, two businessmen from Haryana, Ajay Sharma (28) and Sanjay Jindal (38) from Sonipat, were arrested for their roles in this fraud case. A Delhi-based businessman, Tushar Gupta, aged 39, has been apprehended by the Noida police …
Income Tax officials have not ruled out the possibility of the Enforcement Directorate joining the probe to delve deeper into the alleged conspiracy. In a recent development, Income Tax officials have uncovered a purported plan involving a significant sum of …
Vijay Kelkar advocated for eliminating the longstanding practice of differential tax rates for essential and non-essential goods and services. Vijay Kelkar, former Chairman of the 13th Finance Commission, has called for the immediate introduction of a uniform Goods and Services …
The proposed GST 2.0, according to the congress manifesto, will see a redesign of the GST Council, positioning it as the ultimate authority on all policy matters related to GST. The Congress party recently unveiled its manifesto ahead of the …
The student received notices from both the Income Tax and GST departments concerning a company registered under his PAN card, purportedly conducting business activities in Mumbai and Delhi during the year 2021. A startling incident has shaken 25-year-old college student …
The Congress party has received a ₹ 1,800 crore notice from the Income Tax Department, a day after the Delhi High Court dismissed the party’s petition challenging the tax notices. The fresh notice on congress party is for assessment years …
The complainant, in a handwritten note submitted to the CBI, detailed how the officials asked for a bribe to resolve the issue. In a recent development, the Central Bureau of Investigation (CBI) has taken action against three GST officials for …
The department claimed that the “escaped” income by the congress party amounted to over ₹520 crore. The Delhi High Court delivered a verdict on Friday, rejecting the Congress party plea challenging the Income Tax (IT) department’s move to initiate reassessment …
The Congress Party stands to face substantial financial repercussions if violations under Section 13(1) of Income Tax Act are proved. The Congress party finds itself embroiled in a series of tax challenges, with the Income Tax Department delving into its …
This demand of Bribe was made by the Deputy Commissioner in exchange for refunding GST worth ₹20 lakh belonging to the firm “ARDEM Data Services Private Limited In a recent development, a vigilance team in Uttar Pradesh made a significant …
This move by the RBI aims to stabilize liquidity levels amidst the anticipated drain due to tax payments, ensuring banks have enough funds to smoothly navigate the financial landscape. The Reserve Bank of India (RBI) injected a hefty sum of …
IIT-Hyderabad has affirmed its commitment to extending all possible support to the Commercial Taxes officials throughout the investigation process IIT-Hyderabad Support in GST Scam: The Indian Institute of Technology, Hyderabad (IIT-H) has announced its commitment to assisting Telangana Commercial Taxes …
Senior Advocate Vivek Tamkha, representing Congress party, requested a 10-day abeyance of the order so that the Indian National Congress (INC) could appeal to the High Court. However, the bench declined, citing the absence of such provisions or prayers before …