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: ARTICLES ON INPUT TAX CREDIT IN VAT :: list of goods taxed at 4% :: due date for vat payment :: VAT RATES :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: VAT Audit :: empanelment :: cpt :: TDS :: Central Excise rule to resale the machines to a new company :: ACCOUNTING STANDARDS :: TAX RATES - GOODS TAXABLE @ 4% :: ACCOUNTING STANDARD :: form 3cd :: articles on VAT and GST in India
« General »
 India’s GST among most complex in world, and it is 0% tax rate that is hurting the idea
 Can’t overrule courts with retrospective amendments, says Supreme Court
 Why tax planning should be an all-year round activity
 8 financial tasks you should do in the next 30 days
 Income Tax department may defend CPC in returns fraud case
  Income tax department sends notices to investors over tax treaty gains
 Seven months after GST rollout: Time for handholding over, Centre to intensify efforts to curb tax evasion
 Individual angels may get tax relief too
 The differences between tax and cess
 Startups that raised funds from angel investors face tax scrutiny
 Tax collection assumptions in India's budget ambitious

Income Tax Department raids
July, 03rd 2010

The Income Tax department, in its first biggest seizure of unaccounted cash in Tamil Nadu, on Friday seized more than Rs 10 crore from the Adiparasakthi temple in Melmaravathur, around 80 kilometres from here.

The raid on the premises under Section 132 of the Income Tax Act was based on information regarding the stocking up of a large amount of black money in the temple run by self-proclaimed godman Bangaru Adigal. The cash was seized from his house on the temple premises, an official said.

"The money was stacked up in the bureau inside his house and he could not provide any account for it. So we seized it. The counting of the currency seized is still on and it could be well beyond Rs 10 crore," an income tax official told The Times Of India.

Several teams were formed for the search and survey operations. Apart from the Adiparasakthi temple, which runs a medical college, an engineering college and an agricultural college in Kalavai, Kancheepuram, the IT department sleuths also carried out raids in colleges owned by prominent politicians.

Among the institutions raided were St. Peters College and Dr MGR Deemed University, which has several institutions under its fold, in Chennai, Rajalakshmi Engineering College near Poonamallee, Pratyusha Engineering College in Tiruvallur district and Sri Krishna Engineering College in Coimbatore. In all 45 institutions were raided in places like Chennai, Arani, Kodaikanal, Cochin, Bangalore, Coimbatore and New Delhi.

The Income Tax officials are said to have found Rs 7.5 crore capitation fee allegedly collected by Sri Krishna Engineering College from a bank account in Coimbatore and seized it. They also seized Rs. 1.5 crore in cash during the raid on the college premises.

Income Tax additional director (investigation) S Ravichandran, in a press note here said that more than 500 personnel had been deployed for these search operations which commenced at 11.30 am and continued till late evening.

He said during the raid receipts of capitation fee collected by these educational institutions have been seized.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Website Ranking Website Ranking Company Website Positioning Alexa Ranking Website Promotion Website top 10 ranking website top 10 promotion search engine result promotion Strategic Internet Marketing Website Optimization Website Ranking Factors

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