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: ACCOUNTING STANDARD :: TDS :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TAX RATES - GOODS TAXABLE @ 4% :: articles on VAT and GST in India :: cpt :: VAT RATES :: form 3cd :: empanelment :: list of goods taxed at 4% :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: ACCOUNTING STANDARDS :: VAT Audit
 
 
« News Headlines »
 How will goods and service tax impact state revenues?
 Tax officers can issue certificates to avoid taking TDS from NRIs
 India is second most complex tax jurisdiction
 How to link your Aadhaar and PAN details to file income-tax returns
 How to calculate capital gains tax on property sold at less than stamp value?
 Return Filing - Under GST, this is how you will file tax returns from July 1
 Income tax filing FAQs part 1
 Filing Income Tax Returns? Things To Keep In Mind As Deadline Approaches
 Filing of online return for 4th quarter of 2016-17- extension of period thereof.
 New tax accounting standards may reduce leeway for infrastructure companies
 GST – CONCEPT & STATUS – As on 01st May, 2017

I-T 'boom': Rs 306 cr detected
April, 07th 2009

The economic downturn has apparently not affected the hidden income of people in the region. If anything, it seems to have increased it many times. Income-tax department claims to have detected undisclosed income amounting to Rs 306 crore during 2008-09 from UT and nearby areas.

The figure is nearly 400% of the Rs 80.60 crore detected in 136 I-T surveys of financial year 2007-08.

Officials said I-T department had registered an increase of 23.09% in tax collection from Chandigarh region and some parts of Patiala district. Detection of undisclosed income has also helped in increasing the number of assessees from the region, claimed income tax officials. Rs 2,438 crore were collected as income tax from the region as opposed to Rs 1,976.40, which was the target set for 2008-09, said official sources. Commissionerate of income-tax I and II (CIT-I and II) covering Chandigarh, Mohali and Zirakpur conducted the surveys, said north-western regions chief commissioner of income tax PK Chopra.

We collected Rs 10,275 crore as income-tax from the states of Punjab, Haryana, Himachal Pradesh and Chandigarh. Our target for the financial year was Rs 9,316 crore, he added. Chandigarh regions CIT-I GS Randhawa and CIT-II AK Kaushal headed 99 I-T surveys during the financial year ending March 31, said sources.

Major detections in the region were made during surveys of documents belonging to promoters of Zirakpur-based mall Paras Downtown, Preet Land Promoters and Developers, Alchemist Group, Hanumant Builders and JCB Group. Most of the surveys were carried out during the months of February and March. Income Tax department raids in Panchkula also led to detection of massive evasion. The raids targeted builders including AP Group and Motiaz Group. Premises connected to Devi Dayal Group of Colleges were also raided.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Customer relationship management software CRM software Operational CRM Collaborative CRM

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