The Income Tax department in India has announced that the e-filing portal for tax returns will not be operational for three days, starting from the afternoon of February 3rd (Saturday) till the morning of February 5th (Monday).  This temporary shutdown is scheduled for maintenance and technical upgrades of the system. Taxpayers need to know that ...

Lux’s Lyra has the tagline ‘Anytime, Anywhere’ but it fits better for the Income Tax Dept, which can reach anytime, anywhere if they detect anything suspicious! Lux Industries’ shares fell by more than 3 percent after reports emerged of Income Tax (I-T) department raids at the company’s headquarters in Kolkata. The I-T Department has alleged ...

Can you believe that Samajwadi Party leaders had given a 3.24-acre land for a 30-year lease at just ₹100 per year? The Income Tax dept will reveal the truth! The Income Tax department conducted raids on senior Samajwadi Party leader, Azam Khan and people associated with him for 3 days. The IT department suspects that ...

The IT Dept is investigating Cipla over potential tax violations & avoidance. Cipla made wrongful claims worth ₹400 crore & wrongful deductions worth ₹400 crore. Due to claims that the international pharmaceutical corporation with headquarters in Mumbai, Cipla, has engaged in tax evasion and infractions, the income tax division has opened an investigation into Cipla. ...

Citizens who are facing a shortage of funds due to job loss or pay cuts due to the ramifications of the nationwide lockdown can breathe a sigh of relief. As the country battles Coronavirus, the government has decided to provide a major relief for business entities and individuals. The Centre on April 8 announced that ...