Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: list of goods taxed at 4% :: empanelment :: VAT RATES :: ACCOUNTING STANDARDS :: cpt :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: TDS :: VAT Audit :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: form 3cd :: articles on VAT and GST in India :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: ACCOUNTING STANDARD
 
 
News Headlines »
 Income Tax Department expands list of deposits, transactions under scrutiny
  Income-tax Act, 1961 read with Rule 114E of Income-tax Rules, 1962
 Master Directions on Access Criteria for Payment Systems
 RBI-Scheduled Bank's Statement of Position in India as on Friday, January 06, 2017 (Revised)
 3 Big Mistakes To Avoid This Tax Season
 The Top 5 Tax Stories Of 2017
 Are multiple service tax rates in the offing?
 All you need to know about claiming tax break on HRA
 How much income tax you should pay on investments in gold?
  Best ways to save tax in 2017
 8 unknown stocks that could yield huge returns

I-T department to investigate over billing of goods
October, 25th 2010

The Commonwealth Games probe gets wider - Income Tax (I-T) department to investigate over billing of goods used in the Games Village. The Comptroller and Auditor General (CAG) will be expanding the scope of its audit. The CAG will be examining contracts between parties responsible for construction related works.

Earlier, Games Village organisers were caught in an embarrassing situation just days before the opening of the Games when pictures of dirty toilets, dogs littering in the rooms and in-operational lifts appeared in the media.

After raids on major firms that bagged contracts, the I-T dept is all set to investigate other discrepancies.

The Income Tax department will investigate the alleged overbilling of goods like air conditioners that were reportedly bought for higher prices. It will be closely examining the rate contracts and comparing market and procurement prices.

Sources in the department said the I-T probe will specifically look into the contracts awarded by the Games Organising Committee and the role of its officials and contractors including charges of bribing which include PICO international and Deepali Designs, of which the BJP member Sudhanshu Mittal was a Director, G L Litmus and Meroform consortium, Comfort Net and Nussli India consortium and ESG Arena and D-Art furniture.

The I-T department had conducted searches at about 30 locations in and around the National Capital on October 19 as part of its probe into alleged financial irregularities in works related to the Commonwealth Games.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Multi-level Marketing MLM India Affiliate Marketing Affiliate Marketing Software MLM Software MLM Solutions Multi level marketing solutions MLM Servi

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions