Latest Expert Exchange Queries

GST Demo Service software link:
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft
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: due date for vat payment :: VAT Audit :: list of goods taxed at 4% :: ACCOUNTING STANDARD :: cpt :: articles on VAT and GST in India :: TDS :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: empanelment :: VAT RATES :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: form 3cd :: ACCOUNTING STANDARDS :: ARTICLES ON INPUT TAX CREDIT IN VAT
ę Indirect Tax »
 All education loans do not get income tax benefits
 FM Arun Jaitley to focus on direct and indirect taxes
 Income Tax For Individuals ‚Äď Assessment Year 2019‚Äď20
 States set separate dates to implement e-way bill
 What are direct and indirect taxes?
 Indirect transfer conundrum continues
 We expect significant changes in income tax slabs, say taxpayers
 Indirect taxes collection could fall short of target due to GST
 Indirect Tax Collection Under Gst Goes Down By 30 Percent
 What is a belated income tax return and what are its consequences
 Why rejig of financial year could upset your tax planning

Income tax officials seize R8.5 cr in cash from bullion dealers Kamathipura office
June, 13th 2013

Trouble for Prithviraj Kothari, owner of RiddhiSiddhi Bullions Ltd, seems to have escalated. The income tax (I-T) authorities claim to have recovered around Rs8.5 crore cash from one of his offices located at Kamathipura.

“The cash was kept in the basement of the office and is suspected to be unaccounted for,” an I-T official said requesting anonymity.
The I-T department started searches on Kothari and his company on Tuesday after his name came up in the intercepted calls during the spot-fixing investigation.
The officers have also found that Kothari was running a company with a different name. It had a director who made bank transactions worth Rs1,900 crore through five banks.

“However, the company was not involved in any big business. It appeared to be for namesake,” the official said, adding that they suspected that it was used to cover up the hawala transactions.
I-T officials couldn’t record Kothari’s statement on Wednesday as he was not available.
When asked about the cash, Kothari told HT that it was bullion money and accounted for. He also refuted the I-T’s finding that though RiddhiSiddhi showed a turnover of Rs. 25,000 crore in its account books, a substantial portion of the import was bogus.

Kothari said everything was accounted for as it involves Customs, valuation and remittance.
The I-T authorities also went to the offices of Hundia Exports, dealers in gold and silver, at Grant Road and Zaveri Bazaar. Its owner, Suresh Hundia, was the president of the Bombay Bullion Association before Kothari.

I-T officials said they even went to Hundia’s residence because of his business relations with Kothari earlier.
Hundia confirmed the I-T officials’ visit. “They have some doubt and the inquiry will go on,” he said, adding that he did not know Kothari.
Hundia said he had given all the documents as required by the I-T and also claimed that the authorities found nothing.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

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