Income Tax

1Apr

Elections, Lok Sabha Election 2024

No Recovery Of Rs 3,500 Crore Tax Dues From Congress Until Election End: Centre Assures Supreme Court

The central government has assured the Supreme Court that it will not take any measures to recover alleged income tax dues of about Rs 3,500 crore from the Indian National Congress (INC) party until the conclusion of the upcoming general elections. The assurance was conveyed by Solicitor General ...

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30Mar

Elections, Lok Sabha Election 2024

Will Not Be Cowed Down: Congress Leader P Chidambaram On BJP’s ‘Tax Terrorism’

Amidst the accusations of the BJP freezing the bank accounts of Congress, party leader P Chidambaram has weighed in on the issue. Describing “tax terrorism” as attempts made by the ruling BJP to cripple the opposition party, the former Finance Minister stated that the party will not be defeated by s...

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29Mar

Elections, Lok Sabha Election 2024

Rahul Gandhi Guarantees To Take Action Against Those Who Destroy Democracy Amid IT Notice

Following the Rs 1,800 crore income tax notice served to Congress, party leader Rahul Gandhi promised to take definitive action against the culprits behind destroying the country’s democracy. The party described the income tax notice as “tax terrorism” by the BJP ahead of the Lok Sabha elections. ...

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29Mar

Elections, Lok Sabha Election 2024

“Tax Terrorism”: Congress Accuses BJP Of Launching Premediated Attacks Ahead Of Elections

Responding to the Income Tax Department’s fresh notice of Rs 1700 crore, the Congress party has accused the ruling BJP of engaging in “the systematic process to thwart Indian democracy” in a recent press statement, highlighting the freezing of bank accounts for over a month of the already cash-strap...

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29Mar

Elections, Lok Sabha Election 2024

I-T Serves Rs 1700 Crore Notice On Congress

The Income Tax (I-T) Department has served  Rs 1700 crore notice on Congress party. It came soon after Delhi High Court turned down the petition from India’s principal Opposition party challenging the reassessment proceedings. The news comes as a massive blow to Congress, increasing financial wor...

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16Feb

Elections, India, Lok Sabha Election 2024

After Presser On Frozen Bank Accounts, Congress Can Finally Access Them

The Congress today attacked the BJP-led central government after the party’s bank accounts, including those of the Youth Congress, were frozen by the Income Tax department ahead of the upcoming Lok Sabha elections. However, just an hour later, the Income Tax Appellate Tribunal (ITAT) in Delhi unfroz...

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1Feb

Business

“Retain Same Tax Rates…”: Finance Minister Says No Change In Tax Rates

Finance Minister Nirmala Sitharaman, while presenting the interim Budget 2024, announced that the government will retain the same tax rates for direct tax collection. This means the central government has not changed income tax slabs or income tax rates for the financial year 2024–25. It is to be...

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26Dec

Jobs

Income Tax Recruitment 2023: Apply For 291 Tax Inspector, MTS And Other Posts

Income Tax, Mumbai, has invited applications for Inspector, MTS, and other posts. Eligible candidates can apply online via the official website of Income Tax at incometaxmumbai.gov.in. The last date to apply is January 19, 2024. Vacancy  Inspector of Income Tax: 14 posts Stenographer: 18 ...

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28Sep

Business

Income Tax Officials Visit Lenovo Facilities At Gurugram And Bengaluru, Suspect Tax Evasion

The Indian Income Tax (IT) Department officials visited personal computer maker Lenovo’s factory situated at Gurugram and Bengaluru as part of a probe on tax evasion. During the visit, the income tax officials inspected the laptops of the employees, reported the TOI. Lenovo which is a Chinese Per...

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27Sep

Business

ITAT Mumbai Bench Upholds Tax Fine of Rs 10 Lakh for Not Disclosing Foreign Assets

A recent order by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has upheld a penalty of Rs 10 lakh under the Black Money Act for not disclosing foreign investments in Schedule FA of tax returns. The order has made headlines as it rejects calls for leniency in such cases. Income tax...

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