Ministry of Finance The Income Tax Department carried out search & seizure operations on 24.02.2021 on a major Pharmaceutical group based out of Hyderabad. This Pharmaceutical group is engaged in the business of manufacturing of intermediates, Active Pharmaceutical Ingredients (APIs) and formulations. Majority of the total manufactured products are exported to various countries i.e. USA…...
Income Tax Department conducts searches in Tamil Nadu
Ministry of Finance The Income Tax Department carried out search and seizure operations on 03-03-2021on two groups of civilcontractors in Southern Tamil Nadu. Searches and surveys were conducted in 18 premises mainly in Madurai and Ramnad districts. Based on intelligence inputs about the existence of cash, which is likely to be distributed for election purposes,…...
Income Tax Department conducts searches in Mumbai
Ministry of Finance The Income Tax Department is carrying out search and survey operations which started on 03.03.2021 on two leading film production companies, a leading actress and two Talent Management companies in Mumbai. Search operation is being carried out at Mumbai, Pune, Delhi and Hyderabad. The group is mainly engaged in the business of…...
Income Tax Department conducts searches in Hyderabad
Ministry of Finance The Income Tax Department carried out search & seizure operations on 24.02.2021 on a major Pharmaceutical group based out of Hyderabad. This Pharmaceutical group is engaged in the business of manufacturing of intermediates, Active Pharmaceutical Ingredients (APIs) and formulations. Majority of the total manufactured products are exported to various countries i.e. USA…...
Clarification in respect of residency under Income-tax Act, 1961
Ministry of Finance The Central Board of Direct taxes (CBDT) has received various representations requesting for relaxation in determination of residential status for previous year 2020-21 from individuals who had come on a visit to India during the previous year 2019-20 and intended to leave India but could not do so due to suspension of…...
Income Tax Department conducts searches in J & K
Ministry of Finance Income Tax Department conducted a search & seizure operation on 19.02.2021, on a group running the biggest private Multi-speciality Hospital in Srinagar with more than 100 beds. Seven premises including 4 residential premises, all in Srinagar, were covered in the search. The core business of the group includes running of the Hospital,…...
Income Tax Department conducts searches in Hyderabad
Ministry of Finance The Income Tax Department carried out search and seizure operation on a group based in Eluru on 28.01.2021 at 21 different locations across Andhra Pradesh and Telangana. The group entities are engaged in Film Financing, Aqua Culture, Real estate, Distribution of Films and Money Lending. During the course of the search operation,…...
Income Tax Department conducts searches in Bengaluru
Ministry of Finance The Income Tax Department conducted search and seizure operation on 17.02.2021 on 09 major Trusts registered in Bengaluru &Mangaluru, which are running educational institutes including medical colleges. Searches were conducted at 56 different locations across Karnataka and Kerala. During the course of the search and seizure operation it was found that the…...
Income Tax Department conducts searches in Mumbai
Ministry of Finance The Income Tax Department carried out search and survey operations on a group based in Mumbai on 08.02.2021. This group is mainly engaged in the business of manufacturing of Gutkha, Pan masala and allied substances, besides having operations in hospitality sector. The searches were carried out across many locations in India and…...
Income Tax Department conducts searches in Bengaluru
Ministry of Finance The Income Tax Department carried out search and seizure operation on a major liquor manufacturer group based in Bengaluru on 09.02.2021 at 26 different locations across India. This group has huge land bank which is being developed into residential and commercial properties with a builder based in Bengaluru. The searches have resulted…...