Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: form 3cd :: VAT Audit :: TDS :: list of goods taxed at 4% :: ACCOUNTING STANDARDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: articles on VAT and GST in India :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: due date for vat payment :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: Central Excise rule to resale the machines to a new company
 
 
« General »
 Finance Ministry likely to tweak Minimum Alternate Tax norms to boost industry
 Income tax department warns people to keep away from benami transactions
 New helpline for income tax e-filing
 The Central Government notifies the Companies (Amendment) Act, 2017
 GST Returns: Government Relaxes Rectification Norms
 Will govt bring change in income tax slab? here's the present structure
 No income tax exemption to cooperative banks
 Bitcoin investors may have to pay capital gains tax
 What industry expected when Modi government implemented GST
  The Finance Resolution And Deposit Insurance Bill, 2017
 Government sets aside Rs 10,000-cr tax demand on tech companies

Reddys in trouble for 86cr tax evasion
December, 27th 2010

Income tax sleuths unearthed under-invoicing and tax evasion of around Rs 86 crore by Obulapuram Mining Company (OMC), run by Karnatakas Reddy brothers and also their trusted confidante and state health minister B Sriramulu.

The scam that can further embarrass Karnatakas BJP government is said to have alarmed top guns in the state. The CBI is investigating illegal mining transactions in Andhra Pradesh, where the Reddy brothers have mining business.
According to an internal report of the I-T department, a copy of which is with TOI, the Reddys came under the scanner after the department analyzed the information, documents and case records available in the I-T and sales tax department related to the OMC. The company had evaded Rs 86,42,88,802 during 2007-08 .

Official sources said they found the OMC had entered into an MoU with one-dollar company, GLA Trading International , of Singapore to camouflage the companys income suppression. GLATI, presumed to be named after Janardhana Reddys wife Gali Laxmi Aruna, has offices in Singapore, Dubai and the British Virgin Islands , which is a tax haven . OMCs transactions through the MoU with GLATI are convoluted and devised to evade tax payment in India, assessing officers said in the report.

BSY to publish Gowda and sons misdeeds

Karnataka CM B S Yeddyurappa on Sunday said he would soon release a book containing the alleged misdeeds of JD(S) supremo and former PM H D Deve Gowda and his family. The book would contain details of all cases of corruption and scams, particularly illegal appointments made in Karnataka Public Service Commission during the tenure of Gowdas son H D Kumaraswamy as CM, he told reporters in Hubli. If Deve Gowda so wishes, I will send the book to Parliament, and also the President, PM and the UPA chairperson. Meanwhile, the CM said BJP is considering replacing the deputy chairman of the state Legislative Council with its own candidate as the party has majority in the Upper House.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Integrated Software Solutions Integrated Software Development Integrated Software Services Integrated Software Solutions India Integrated Softw

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