Income Tax Department conducts searches in Gujarat Posted On: 25 SEP 2021 10:35AM by PIB Delhi The Income Tax Department carried out search and seizure operations on 22.09.2021 on premises of a leading Diamond manufacturer and exporter from Gujarat, based on intelligence input about tax evasion. Apart from the diamond business, the group was also…...
Income Tax Department conducts searches in Delhi, Punjab and West Bengal
Ministry of Finance The Income Tax Department carried out a search and seizure operation on 18.09.2021 on a leading business house of India involved in manufacture of textile and filament yarn having corporate offices in Delhi, Punjab and Kolkata. During the course of the search operation, many incriminating documents, loose sheets, diaries, digital evidences etc…...
Income Tax Department conducts searches in West Bengal
Ministry of Finance The Income Tax Department carried out a search and seizure operation on 17.09.2021 on a prominent group engaged in manufacturing of steel products. 25 premises consisting of 8 residences, 9 offices and 8 factories, spread over Kolkata, Durgapur, Asansol and Purulia and other regions of West Bengal were covered in the operation.…...
Income Tax Department conducts searches in Ahmedabad
Ministry of Finance The Income Tax Department carried out a search and seizure operation on 08.09.2021 on a group based in Ahmedabad. The group is among one of the prominent business houses of Gujarat engaged primarily in the media and real estate sectors. The media arm of the group comprises of electronics, digital as well…...
Income Tax Department conducts searches in Punjab and Haryana
Ministry of Finance The Income Tax Department conducted search and seizure operations on 08.09.2021 on three prominent Commission agent groups based in Punjab, covering many premises across Punjab & Haryana. These groups are also engaged in the business of running Steel Rolling Mill, cold storage, General Mills, Jewellery shop, Poultries, Rice Mills, Oil Mill, Flour…...
CBDT issues clarification regarding carry forward of losses in case of change in shareholding due to strategic disinvestment
Ministry of Finance Finance Act, 2021 has amended section 72A of the Income-tax Act, 1961 (the Act) to inter alia provide that in case of an amalgamation of a public sector company (PSU) which ceases to be a PSU (erstwhile public sector company), as part of strategic disinvestment, with one or more company or companies, then,…...
CBDT extends due dates for filing of Income Tax Returns and various reports of audit for Assessment Year 2021-22
Ministry of Finance CBDT extends due dates for filing of Income Tax Returns and various reports of audit for Assessment Year 2021-22 On consideration of difficulties reported by the taxpayers and other stakeholders in filing of Income Tax Returns and various reports of audit for the Assessment Year 2021-22 under the Income-tax Act, 1961(the “Act”),…...
CBDT allows taxpayers an opportunity to file application for settlement
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 7th September, 2021 PRESS RELEASE CBDT allows taxpayers an opportunity to file application for settlement The Finance Act, 2021 has amended the provisions of the Income-tax Act, 1961 (“the Act”) to inter alia provide that the Income-tax Settlement Commission…...
CBDT extends date under section 3 of the Vivad se Vishwas Act
Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 29th August, 2021 PRESS RELEASE CBDT extends date under section 3 of the Vivad se Vishwas Act Under The Direct Tax Vivad se Vishwas Act 2020 (hereinafter referred to as “Vivad se Vishwas Act”), the amount payable by the…...
Finance Ministry meeting with Infosys on glitches in e-filing portal of Income Tax Department
Ministry of Finance Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman took a meeting with Mr. Salil Parekh, MD & CEO, Infosys here today afternoon to convey the deep disappointment and concerns of the Government and the taxpayers about the continuing glitches in the e-filing portal of the Income Tax Department even after…...