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
Service Tax »
 Paying your income tax may soon become as easy as swiping a card at a shop
 In income tax rule change, govt considers tweaking dividend distribution tax
 No documents are needed to file ITR for agricultural income below ?5 lakh
 Introduced in 2017, the Goods and Services tax (GST) is a destination based consumption tax subsuming in itself, the erstwhile taxes like sales tax, service tax, excise etc. Under the GST
 Income Tax alert! Last date to do this work is October 31, check all details here
 Income tax on gains from stocks, equity mutual funds set to be revamped
 You can save tax on up to Rs 17,000 savings account interest: Here's how
  Communication to the Central Excise/Service Tax Taxpayers on migration to GST
 Don’t let the tax scrutiny spoil happy returns
 Government launches Faceless e-assessment scheme for taxpayers
 Tax department issues ITR scrutiny notices. Here’s what to expect and how to file a reply

Income Tax searches at premises of prominent chit fund company
April, 08th 2017

The Income Tax Department on Friday conducted searches at the premises of a group which runs a prominent chit fund company and other businesses in Andhra Pradesh and Telangana.

The group is also into real-estate, media, hospitality and financial consultancy. The searches were held at almost 30 premises of the group including residences and offices throughout Andhra Pradesh and Telangana state, official sources said.

“It was noticed that this group had deposited approximately Rs 90 crore in cash in various bank accounts,” the officials said. They added, chit-fund company resorted to acceptance of huge amounts of demonetised high value currency notes during the month of November 2016, post demonetisation.

During searches evidences were unearthed indicating acceptance of demonetised high value currency in the guise of chit subscriptions with a clear back dating prior to November 8, 2016, the officials maintained. On November 8 last year, the Central Government had announced the decision to withdraw the high value currency notes of Rs 500 and Rs 1,000.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2019 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
SEO Services SEO LLC e-boost Search Engine Optimization Services Internet Marketing Services Website Placement Services On-site Webs

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