Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 ITR Filing 2025: These individuals are exempt from paying tax. Do they need to file returns?
 Full List Of Trump's Reciprocal Tariffs Announced Wednesday
 Top 5 tax-saving investment options for salaried individuals to consider before March 31, 2025
 5 lesser lesser-known avenues of tax saving you can use to save income tax before March 31, 2025
 March 15 is deadline for last advance tax installment: Know if you must pay

I-T unearths Rs 1,700-crore evasion in nationwide raids
January, 27th 2007

In its ongoing drive against tax evasion, the income-tax department has detected an evasion of over Rs 1,700 crore and seized undisclosed assets worth about Rs 228 crore during searches carried out in April-November 2006.

Searches were conducted at Mumbai, Delhi, Kolkata, Chennai, Ahmedabad, Visakhapatnam, Hyderabad and Guwahati, covering various segments of trade, commerce and industry, including manufacturers, spice traders, real estate developers, service providers, civil contractors, performing artists and educational institutions. In the past two months alone, the department seized undisclosed assets worth Rs 20 crore and detected tax evasion of over Rs 500 crore.

After a search operation carried out in a metropolitan city on real estate developers, a taxpayer has admitted to a tax-concealed income of about Rs 125 crore.

The department has also detected tax evasion of over Rs 1,100 crore this fiscal through surveys conducted at the business premises of taxpayers, a CBDT release said on Thursday. The governments direct tax collections grew 41.7% during April 2006-January 22, 2007 to Rs 1,55,442 crore.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2025 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting