Income Tax Department conducts searches in Maharashtra

RELEVANT EXTRACT  The Income Tax Department carried out search and seizure operations on  27.10.2021 at the Headquarter and one of the branches of an Urban Credit Cooperative  Bank located in Maharashtra. The residence of the Chairman and one of its directors were  also covered. The

Income Tax Department conducts searches in Rajasthan

RELEVANT EXTRACT  The Income Tax Department carried out search and seizure operations in border  districts of Rajasthan on 28.10.2021 covering 33 premises at different locations, where  the groups are carrying on business of real estate, sand-mining and liquor trade. During the course of the search,

Income Tax Department conducts searches in Jammu & Kashmir and Punjab

RELEVANT EXTRACT  The Income Tax Department carried out search and seizure operations on 28.10.2021 in the cases of persons engaged in the business of processing & trading of dry fruits. During the search operations, many incriminating documents including digital evidence were found and seized indicating

Income Tax Department conducts searches in Bihar and Jharkhand

RELEVANT EXTRACT  The Income Tax Department carried out search and seizure operation on a prominent  road construction contractor in Bihar and Jharkhand. The search action was initiated on  27.10.2021 at various premises located in Bihar, Jharkhand, Maharashtra, and West Bengal. The searches revealed that the

Roll out of the new Annual Information Statement (AIS)

RELEVANT EXTRACT  Income Tax Department has rolled out the new Annual Information Statement (AIS)  on the Compliance Portal which provides a comprehensive view of information to a  taxpayer with a facility to capture online feedback. The new AIS can be accessed by  clicking on the

Income Tax Department conducts searches in Tamil Nadu

RELEVANT EXTRACT  The Income Tax Department carried out search and seizure operations in Tamil  Nadu in the case of a group engaged in the manufacturing of animal feeds, poultry  farming, edible oils and export of egg products. The search action in the group was  initiated

Extension of last date of filing of Cost Audit Report to the Board of Directors under Rule 6(5) of the Companies (Cost Records and Audit) Rules, 2014

RELEVANT EXTRACT  In continuation to this Ministry's General Circular No. 15/2021 dated 27.09.2021, in view of the disruption caused by the COVID-19 pandemic and after due examination of the representations received from stakeholders, it has been decided to substitute the word and figures "31st October,

Income Tax Department conducts searches in Punjab

RELEVANT EXTRACT  The Income Tax Department carried out search and seizure operations in the cases of two groups based in Punjab. The search action in case of the first group was initiated on 21.10.2021. This group is engaged in Cycle business. The group has been

Income Tax Department conducts searches in Nashik

RELEVANT EXTRACT  The Income Tax Department carried out a search and seizure operation on  21.10.2021 in the case of a person engaged in the real estate business, primarily  operating as a land aggregator in Nashik. During the search and seizure operation, many incriminating documents including 

Income-tax Department’s searches in NCR, Haryana & WB reveal large scale under-invoicing of imports

RELEVANT EXTRACT  The Income Tax Department carried out search and seizure operations on an  importer and trader of laptops, mobile phones and peripheral parts. The search operations  commenced on 10.10.2021 and were spread across the National Capital Region, Haryana  and West Bengal. During the course

Press Release : Income Tax Department’s searches in Maharashtra reveal unaccounted income of over Rs. 184 crore

RELEVANT EXTRACT  The Income Tax Department carried out search and seizure operations on two real  estate business groups of Mumbai and certain individuals/ entities associated with them.  The search operations commenced on 07.10.2021 and have been carried out at about 70  premises spread across Mumbai,

Press Release : Income Tax Department conducts searches on groups engaged in the business of Digital Marketing & Waste Management

RELEVANT EXTRACT  The Income Tax Department initiated search and seizure operations in two groups based  in several States on 12.10.2021. The first group is engaged in digital marketing and campaign management wherein the  search operations have been carried out at 7 premises located in Bengaluru,

Press Release : Over 2 crore Income Tax Returns filed on the e-Filing portal of the Income Tax Department

RELEVANT EXTRACT  The e-filing portal of the Income Tax Department (www.incometax.gov.in) has  marked receipt of more than 2 croreIncome Tax returnsas on 13th October 2021. The  new portal was launched on 7th June, 2021 and in the initial period taxpayers had  reported glitches and difficulties

Income Tax Department conducts searches in Bengaluru

RELEVANT EXTRACT  The Income Tax Department carried out search and seizure operations in the case of three major contractors based out of Bengaluru engaged in the execution of irrigation and highway projects. The searches commenced on 07.10.2021have been carried out at 47 premises spread across

Income Tax Department conducts searches in Kanchipuram, Chennai and Vellore

RELEVANT EXTRACT  The Income Tax Department conducted searches on 05/10/2021 in two cases of Kanchipuram, one being a Chit Fund and Financing Group and the other a retailer of Silk Sarees and other garments. The search operations were carried out at 34 premises located in

Cash seizure of over Rs. 142 crore in searches of Income Tax Department in Hyderabad

RELEVANT EXTRACT  The Income Tax Department carried out search & seizure operations on 06.10.2021 on a major Pharmaceutical group based out of Hyderabad. This Pharmaceutical group is engaged in the business of manufacturing of intermediates, Active Pharmaceutical Ingredients (APIs) and formulations. Majority of the products