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
Latest Expert Exchange
« Service Tax »
 How to get registered under goods and services tax
 Service Tax can’t be Levied on Activity of Collection of VAT on behalf of Commercial Tax Dept
 Why you should worry about June 15 advance tax date
 Five reasons why you should start your investments in tax saving funds now
 Income Tax Department Releases All 7 ITR Forms Check Details About New IT Forms
 Income tax benefits for senior citizens: Here is all you need to know in brief
 12 ways to avoid paying more for bank services
 I-T return filing: Income Tax offices, Ayakar Seva Kendras to remain open from March 29-31
 Top 5 money matters you must settle before March 31 From income tax returns to LTCG,
 Steep fines for missing March 31 income tax deadline
 CBEC clears some air on refunds under GST, central excise, service tax laws

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 2018 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