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UNACCOUNTED INCOME
Paying tax won't legitimise cash stashesThe taxman is tightening its grip on undeclared cash, with a recent tribunal ruling allowing the benami wing of the Income Tax department t...- Rs 400 crore agricultural income but no land: CBDT digs up names of rich ‘farmers’ without farmsTax authorities have uncovered a major scam involving fake agricultural income claims. Over 300 individuals claimed exemptions worth thousa...
- Gujarat Police recover nearly 3 crore unaccounted cash from car in Dahod district, probe underwayGujarat Police seized over Rs 2.56 crore in unaccounted cash during a routine vehicle check in Dahod district, allegedly being transported ...
- Earning Rs 20 lakh can still leave you middle class? CA’s warns about silent money mistakes urban Indians makeMany professionals earn lakhs but face financial anxiety. Chartered accountant Nitin Kaushik warns that high salaries can become a 'high-sp...
- Bengaluru founder says 2 salaries could not buy a flat in India, one income bought UK houseA Bengaluru entrepreneur's comparison of buying property in India versus the UK has sparked debate. She found purchasing a flat in Bengalur...
- China’s property prices crash to 2005 levels: Could India face a similar housing slump?China's property market faces a prolonged downturn, with prices hitting near two-decade lows, sparking fears of a similar correction in Ind...
- West Bengal polls: Asset declaration of Trinamool nominee under I-T probeThe Income-Tax Department is probing Trinamool Congress MLA Debasish Kumar over alleged asset discrepancies after searches uncovered jewell...
- I-T Dept finds 'discrepancies' in declaration of assets by TMC MLA: SourcesThe Income Tax Department has uncovered discrepancies in assets declared by TMC MLA Debashis Kumar. Seizures from his residence during rece...
- Kerala, Telangana CMs trade barbs on governance record ahead of April 9 assembly pollsKerala's Chief Minister Pinarayi Vijayan and Telangana's Chief Minister Revanth Reddy exchanged sharp words on governance. Vijayan highligh...
- Unaccounted income invested in virtual digital assets on CBDT radarSuch entities and individuals which are engaged in Virtual Digital Asset (VDA) transactions and have failed to comply with the Income-tax A...
- IT dept detects Rs 100-cr black income after raids on Gujarat gutka distributorThe department seized Rs 7.50 crore jewellery worth Rs 4 crore during the operation, it said. "The search action, so far, has led to the de...
- Rs 200cr black income detected after raids on Pune business group: CBDTRelated entities of the group were allegedly indulging in dealing of cash receipts from dealers or brokers, unaccounted investment in prope...
- Rs 70-cr black income detected after Income Tax raids on K'taka civil construction group: CBDT"The search action has led to detection of unaccounted income of more than Rs 70 crore which has been admitted as undisclosed income by the...
- Income Tax department detects Rs 300 crore black income after raids on steel rolling companiesIt alleged that the tax department has found "laundering of substantial amount of unaccounted income earned by the companies in the guise o...
- I-T dept detects black income of Rs 100 crore after raids on contractors in AssamThe three groups have suppressed their net profits across the years and routed back into business the unaccounted income through entry oper...
- Indians' unaccounted wealth abroad estimated at $216-490 billion: StudiesIllicit outflows from the country are estimated on an average at 10 per cent of the estimated unaccounted income.
- Rs 4 lakh crore of cash deposits so far may be suspect; depositors likely to get I-T noticeAn exercise is on to verify the genuineness of the deposits and tally them with tax returns. I-T has already served around 5,000 notices.
- Surat-based financier Kishore Bhajiawala used 700 people to deposit, withdraw cashSources in the I-T department said that Bhajiawala had 27 bank accounts of which around 20 were benami accounts through which he laundered ...
- Roadside eatery owners declare Rs 50 crore under black money scheme in MumbaiThese eatery owners will have to pay tax of Rs 22.5 crore on this previously unaccounted income, people aware of the matter said..
- Disclosure of unaccounted money in Gujarat jumps to Rs 950 crThe disclosure of unaccounted wealth during Income Tax searches in FY10-11 in Gujarat stood at Rs 950.54 cr against Rs 576.51 cr last year,...
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