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: ACCOUNTING STANDARDS :: VAT Audit :: articles on VAT and GST in India :: VAT RATES :: ARTICLES ON INPUT TAX CREDIT IN VAT :: Central Excise rule to resale the machines to a new company :: due date for vat payment :: cpt :: TDS :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: empanelment :: ACCOUNTING STANDARD :: list of goods taxed at 4% :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes
 
 
« Direct Tax »
 Government sets up a panel to draft new direct tax law
 High court judges, experts brainstorm on likely GST litigations
 Businesses need not deduct GST on advances received for goods supply: CBEC
 Redress taxpayers' grievances on priority: CBDT to I-T department
 No tax relief on EPF interest if not employed: ITAT
  CBDT signs 7 more unilateral APAs with taxpayers
 Income tax returns (ITR) filing: Get capital gains tax exemption on new property; here is how
 Reach out to non-filers of GST returns: CBEC to fields offices
 CBDT may shelve plan to seek corporate tax estimates in advance
 IT expertise at banks' board level a must, says RBI ED
 Clarification on Indirect Transfer provisions in case of redemption of share or interest outside India under the Income-tax Act, 1961

No vendetta in Karti Chidambaram's I-T raids: CBDT
December, 03rd 2015

The CBDT on Tuesday virtually dismissed former Finance Minister P Chidambaram's charges of vendetta in the income tax searches in some premises connected with his son Karti's associates, saying it was based on "credible information of tax evasion" and "financial irregularities".

While certain "incriminating evidence indicative of tax evasion and financial irregularities have been recovered during the ongoing investigation, the CBDT said "no political person or its family member are today shareholders or directors of the companies searched or surveyed by the Income Tax department."

The searches and surveys on a group based in Chennai and Tiruchirappalli and another private limited company in Chennai have been conducted strictly as per provisions of the Income Tax Act, the CBDT said in a press release, hours after Chidambaram accused the government launching a "malicious onslaught" against his family.

"These are consequential to the on-going investigations. There is no collateral purpose behind such actions and no political person or his family member are today shareholders or directors of the companies searched or surveyed by the Income Tax department. Disclosure of information respecting assessees is prohibited except as provided in section 138 of the Income-tax Act, 1961," it said.

The release said the searches were "based upon credible information of tax evasion and large scale financial irregularities" committed by a group based in Chennai and Tiruchirappalli.

The investigation wing of the Income Tax department in Chennai has been conducting probe and as part of it, searches under section 132 (search) and surveys under section 133A (surveys) of the Income-tax Act, 1961 are being conducted at the residential and business premises of the key functionaries of the group.

Survey is also being conducted at the business premises of another private limited company in Chennai which has shareholding in a company of the aforesaid group.

"Certain incriminating evidence indicative of tax evasion and financial irregularities have been recovered during the on-going investigation. Further action as per law will follow," it claimed.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Custom Software Development Outsourcing Custom Software Development Offshore Cus

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