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
 Delhi HC Rules GST Registration Cannot Be Cancelled Retrospectively Without a Clear Show Cause Notice (SCN)
 Belated income tax return AY 2026-27: How to file, late filing charges and what you may lose
 Major Financial Changes from August 1, 2026: ITR Deadline, RBI MPC Meeting, Tatkal Ticket Rules & More
 Government proposes to ease tax relief conditions for offshore funds
 TallyPrime Connected Banking: Automating Banking and Accounting
 ITR Filing Deadline 2026: Is July 31 the Last Date to File Your Income Tax Return? Latest Official Update
 ITR filing deadline nears: How to file income tax return online on e-filing portal - quick 15-step guide
 Will the ITR Filing Deadline Be Extended Beyond July 31 for FY 2025-26? Here's the Latest Update for Taxpayers
 Income Tax Refund Delayed for AY 2026-27? 5 Common Reasons Your Refund May Be Stuck and How to Fix It
 ITR Filing 2026: FM Nirmala Sitharaman Asks Tax Officials to Let Honest Taxpayers Correct Genuine Mistakes
 Will Your FCNR Deposit Stay Tax-Free After Returning to India? Tax Rules Explained for NRIs

I-T dept detects undisclosed wealth cases
March, 21st 2007

Surveys carried out by the Income Tax department here, have detected undisclosed income to the tune of Rs 17 crore, fetching a tax income of Rs five crore.

This substantial additional income, with focus areas of business such as real estate, manufacturing and windmill activities, was not so far disclosed to the department for tax purposes, a release from the office of Chief Commissioner of Income Tax, said here today.

In the areas of windmills, untaxed income of Rs six crore with a tax implication of Rs two crore, was detected in the cases of three assessees.

An undisclosed income of about Rs 7.5 crore was detected in building construction activities, while names of large number of sub-contractors, who had not been filing returns so far, have also been detected during the surveys, it said.

Surveys were also conducted in activities of waste cotton trade, iron scrap business, dyeing and yarn manufacturing and also trading in handlooms, it said.

In some cases, false claim of deductions and expenses were detected by the survey officers, the release said.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2026 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting