IT raids Karnataka
Photo: OpIndia

Karnataka IT Raid Luxury Watches, Gold, And Over 100 Crore Unaccounted Cash From Govt. Contractors

On 12th October, the Income Tax Department launched an anti-corruption operation which ended on 15th October, during which, it raided 55 locations across Bengaluru and several cities in Telangana, Andhra Pradesh, and Delhi. The raids were carried out on properties related to some government contractors,… Read More

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BBC Central Board
Photo: TFI Post

BBC Tax Evasion: Income Tax Department Finally Crushes Bbc’s Pride

The Income Tax Department of India has landed a significant blow to the reputed British Broadcasting Corporation (BBC) in an episode that exposes the corporation’s noncompliance with tax laws. BBC, a media organization often regarded as the darling of the left, was compelled to admit… Read More

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NGO donations
Photo: TFI Post

Those Who Swindled Money Using NGO Donations As The Vehicle Get Letters From The Government

The second most populous country with a large middle class workforce is a positive aspect for the economy of India. The large workforce means large output, and the large population means large consumption. This makes the market luring and the government determined to build world… Read More

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Income Tax Raid
Photo: Hindu Jagruti

‘EVIDENCE OF TAX AVOIDANCE AND DISCREPANCIES FOUND’: FINANCE MINISTRY ON I-T SURVEY AT BBC OFFICES

The Ministry of Finance has issued a statement detailing the survey done by the Income Tax department at the Delhi and Mumbai offices of the BBC. The survey, which started on 14th February, Tuesday, continued for 3 days and ended on Thursday evening. The survey… Read More

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BBC raids
Photo: OpIndia

BBC RAIDS: A LOOK INTO THE BROADCASTER’S LONG TRACK RECORD OF TAX AVOIDANCE AND UNSCRUPULOUS FINANCIAL PRACTICES IN THE UK

Several weeks after the Indian government blocked the BBC’s contentious documentary about Prime Minister Narendra Modi and the Gujarat riots of 2002, Indian tax authorities raided the BBC’s headquarters in New Delhi and Mumbai on Tuesday. The Income Tax department’s overnight and ongoing inspection of… Read More

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Income Tax Department Inaugurated Redressal Desk In Gujarat
Photo: Times Of India

Income Tax Department Inaugurated Redressal Desk In Gujarat

Income Tax Departments introduced a redressal week for the tax payers of Gujarat, the highest tax payer state in India that pays about 11.8 % of tax among 6.5% of population. The redressal desk is for filing the grievance and difficulties in paying tax, while… Read More

  • Times of India
  • 5 Mar 2019
  • WerIndia
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Black Money
Photo: Google

7 Lakh Tax Notices Sent To Those With Sizable Transactions

With push to track down black money and tax defaulters, the Income Tax department has sent out more than 7 lakh tax notices to those who did not provide their PAN numbers, and more may be sent out. With assistance from banks, the notices were sent out to those who from… Read More

  • http://profit.ndtv.com/news/economy/article-7-lakh-tax-notices-being-sent-who-is-likely-to-receive-them-1434328?pfrom=home-lateststories
  • 23 Jul 2016
  • WerIndia
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Income Tax Department of India
Photo: Facebook

ONLY 5.5% INDIAN EARNERS PAY INCOME TAX

Today, only 4% of voters are income tax payers and only 5.5% of earners pay any income tax. Also, only 15% of income is being reported, meaning 85% of income is not being reported or exempted from income tax as it is for farming income. So, if India has to… Read More

  • http://www.thehindu.com/todays-paper/tp-business/only-55-who-earn-are-tax-payers-economic-survey/article8287084.ece
  • 29 Feb 2016
  • WerIndia
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