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Two office premises in Chennai and one in Delhi were covered by the probe agency over the last two days, as per provisions of FEMA

Enforcement Directorate conducts searches on India Cement for FEMA violations

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India Cements share price plunges over 8% after ED search The Enforcement Directorate (ED) on Thursday conducted searches at premises linked to India Cement, headed...
Speaking on the need to do away with “opaque” tax practices in India, the envoy said US companies wanted reassurance and protection for intellectual property

‘Opaque’ corporate tax practices is a hurdle for American investments in India, says US...

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Ambassador Garcetti says improved taxation, and regulatory system would further expand India-US economic ties US Ambassador to India Eric Garcetti on Tuesday said “opaque” corporate...
“The assessment order passed by the department in August this year was time barred and hence cannot be sustained," Bombay High Court noted in its judgment

Bombay HC orders tax refund of Rs.1128 cr to Vodafone Idea. Pulls up I-T...

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Vodafone Idea's 'win of Rs.1128 crore' The Bombay High Court has directed the Income Tax Department to refund Rs.1,128 crore to Vodafone Idea Limited paid...
Number of returns filed have shot up across various tax slabs reflecting more robust revenue base

Income Tax compliance in India is on the upswing across slabs, says data

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ITR filings by taxpayers rise 90% in the last nine years Data released by the Income Tax Department shows that a healthy trend of increased...
As many as 91 fraudsters have been apprehended in connection with these cases

DGGI detects fake input tax claims worth Rs.14,000 crore in FY23-24

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In 2023-24, Rs.1.36 lakh crore has been detected as overall GST evasion The Directorate General of GST Intelligence (DGGI) has detected a total of 1,040...
Around hundred sleuths comprising the Income Tax department and Bihar Police conducted the raids from 7 a.m.

Bihar: Income Tax team raids premises of Millia Educational Trust’s owner

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Raids in Millia Education Trust institutions in Bihar, Income Tax raids in directors Asad Imam's houses also Separate teams of the Income Tax Department conducted...
The food preparation of millet flour containing at least 70 per cent of composition by weight, will have nil GST when sold loose without branding, said FM Sitharaman

GST Council meet: Tax on millet flour scrapped; alcohol for consumption exempted; GST on...

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GST council cuts taxes on millet flour On Saturday, the GST Council exempted millet flour from GST. However, branded millet products will attract a GST...
The revised regulations also maintain the inclusion of five valuation methods initially proposed in the draft rules for assessing funds received from non-resident sources

Income Tax Department issues new regulations for startup equity valuation

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What are the new income tax rules for startup investments? The Income Tax Department has issued new regulations concerning the valuation of equity and compulsorily...
Associations have failed to comply with the previous order, leading to complete non-compliance, court granted them a final opportunity to submit affidavits within 4 days

Delhi HC imposes Rs.1 lakh each on restaurant associations for non-compliance of directions pertaining...

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Restaurant, hotel associations fail to comply with Delhi HC directions on service charge, to Pay Rs.1 lakh in fines The Delhi High Court has given...
The Minister was replying to a question on the number of Chinese handset companies which have evaded taxes and made illegal remittances in India

Chinese mobile companies evade Rs.9,000 crore in tax in India, Rs.1,629 crore recovered

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Chinese mobile companies like Oppo, Vivo, Xiaomi found evading tax worth Rs.9,000 crore in India Chinese smartphone makers, including Oppo Mobile, Vivo India, and Xiaomi...
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