« 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 «  Auditors with only ICAI certificate to scan books of listed... CAs can accept more tax audit assignments... » I-T raids Uflex, HFCL May, 11th 2007 Industrialists considered close to Samajwadi Party leader Amar Singh have come under the income-tax scanner. The I-T department on Thursday conducted raids on various premises of packaging company Uflex (formerly Flex Industries) and telecom equipment manufacturer Himachal Futuristic Communications for suspected tax evasions. The department carried out searches at ten premises and surveys at five premises of Uflex located in Uttar Pradesh and Delhi. When contacted, Central Board of Direct Taxes spokesperson confirmed the raids on two companies but declined to give details. The search operation was also carried out on the residential premises of businessman Ashok Chaturvedi, the promoter of Uflex. Uflex, which is listed on Bombay Stock Exchange, manufactures packaging products, polyester film, inks and adhesives. The Flex Group has offices in various cities including Delhi, Mumbai, Kolkata and Bangalore. While Chaturvedi could not be reached for comment, a company spokesperson neither confirmed nor denied raid by the income-tax department. Chaturvedi, who is considered close to the political establishment in UP, had a brush with law in a bribery case earlier. Tax officials also raided various premises of telecom equipment company HFCL in Delhi and Himachal Pradesh. A spokesperson for the company confirmed the raid. Sources in the I-T department said the offices of Club One Air were also raided by the authorities. SP leader Amar Singh, who charged the ruling side with harassing people close to him, said it was yet another instance of the vindictive approach of the ruling dispensation. The timing of the raids is significant as it comes a day ahead of the declaration of results in the just-concluded Uttar Pradesh elections. There were speculation about imminent action against SP leaders and their associates by the tax authorities.