Saturday , May 27 2017

Tag Archives: Income tax

Rs 3-4 lakh crore unaccounted money deposited in bank accounts: IT dept

IT dept

Besides, the IT Dept said Rs 25,000 crore worth of cash was deposited in dormant bank accounts. New Delhi: The Income Tax Department suspects that nearly Rs 3-4 lakh crore of uncounted income has been deposited in banks post the demonization drive that began 2 months ago and is scrutinizing ...

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Income Tax sleuths raid jewellers’ homes, seize Rs 90 Cr cash, 100 kg gold  in Chennai

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The income tax department said they had seized nearly Rs 2,000 crore of undeclared income till Dec 6. Chennai: Income Tax department officials on Thursday  has raided eight locations in Chennai including Anna Nagar and T Nagar and  have recovered Rs 90 crore in cash of which 70 crores were ...

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Gold deposits over 500gm without known income sources will attract tax

gold-ornaments-you-can-possess

Govt says existing  IT Act regulations for gold holdings will apply to the gold monetization scheme as well  New Delhi: After Prime Minister Narendra Modi’s surgical strike on Demonetization on 500 and 1000 notes, wild buzzes have been spread on social media uttering the government’s next move is to seize ...

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Get 7-year jail for depositing your black money in friend’s account

black-money

The Benami amount (Black Money) in the bank account deposited post de-monetisation will be seized and confiscated. New Delhi: Warning people against depositing their Uncounted old Currency (Black Money) in someone else’s bank account, the tax department has determined to slap charges under the newly enforced Benami Transactions Act against ...

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