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: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: Central Excise rule to resale the machines to a new company :: empanelment :: TDS :: cpt :: due date for vat payment :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: articles on VAT and GST in India :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: VAT RATES :: list of goods taxed at 4%
 
 
News Headlines »
 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
 Government may set threshold for probe into deposits to prevent harassment of taxpayers
 How to calculate capital gains tax
 April 1 still the target for GST: FM
 How to respond to CBDT’s tax compliance notice
 Goods & Services Tax (GST)(As On 01-01-2017)
 Excise, service taxpayers to migrate to GST portal by January 31

IT dept seizes unaccounted assets in Kerala
November, 22nd 2006
The Income Tax department has seized unaccounted asests, including cash and jewellery, worth Rs 5.16 crore during year-long searches conducted on hotels, private nursing homes and business establishments in various parts of Kerala.

The department's investigation wing conducted the serarches on 12 tax payers, within an year ending Nov 15, a press release said on Tuesday.

Bar hotels, vegetable and fruit merchants, private nursing homes, quarry, rice mill, plywood and Glass business houses were raided. About Rs 240 lakh in cash, jewellery worth Rs 1.14 crore and fixed deposit certificates, Kisan Vikas patras worth Rs 1.62 crore were seized.

Gold ornaments weighing 7.2 kgs were seized from a person carrying it without any documents or explanation on source of acquisition. The person had been originally apprehended by the police. Unaccounted jewellery worth Rs 20.72 lakh and FDs of Rs 30 lakh were seized from some doctors running a private nursing home.

From an astrologer in central kerala, unaccounted cash of Rs 14 lakh and FDs and Kisan Vikas Patras for Rs 27 lakh were seized. He had also constructed a huge Kalayanamandapam (wedding hall), the release said. FDs for Rs 1.05 crore were seized from a builder who was found to have purchased lands for Rs 2.74 crore.

Unaccounted advances running to more than Rs 2 crore to about 300 vehicles by an auto financier have been found. About Rs 91 lakh in cash and standard gold worth Rs 20 lakh were seized from a quarry and rice mill owner who is a leading supplier of granite boulders, metals, metal dust etc to the major builders in the city, the release said.

The release said Rs 55 lakh was seized from a commission agent and wholesale dealer of fruits. Investigation in all these cases are continuing.

Based on the information given by the Investigation Wing to its counterpart in Mumbai that 17 kg of gold ornaments were being taken to that city from Kochi by air, a few persons were intercepted there, the release said.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

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