Articles for Tax Authorities

Choose correct ITR to report foreign assets; 2 lakh such returns filed: CBDT official
4 weeks, 1 day ago

Choose correct ITR to report foreign assets; 2 lakh such returns filed: CBDT official

Deccan Chronicle  

New Delhi: As many as two lakh Income Tax Returns containing details of foreign assets and income have been filed during the current assessment year till now, according to the tax department which urged Indian residents for tax purposes to ensure they file the right form and revise their returns if they submitted the wrong form. The shares obtained and …

Indian Assets Income Tax Report Department Foreign Officer
Netflix offices in France and Netherlands raided amid tax fraud investigation
1 month, 2 weeks ago

Netflix offices in France and Netherlands raided amid tax fraud investigation

ABC  

Netflix offices have been raided in France and the Netherlands as part of a preliminary investigation into tax fraud laundering, a French judicial source said. News website La Lettre reported last year that Netflix's French subsidiary became the subject of scrutiny from tax authorities over its low reported turnover, which the outlet said was at odds with paying user numbers …

France Netherlands Investigation Tax Financial Crime Netflix Tax Authorities
Who is 'middleman' Sanjay Bhandari, who fled to UK in money laundering case and is seeking bail?
6 months ago

Who is 'middleman' Sanjay Bhandari, who fled to UK in money laundering case and is seeking bail?

India TV News  

London: Sanjay Bhandari, an accused middleman in the defence sector who fled to the United Kingdom after facing charges of alleged tax evasion and money laundering, had his bail conditions eased on Friday in order to attend his son's wedding in southeast England. As part of an agreement with the Crown Prosecution Service – representing the Indian authorities in the …

India London Appeal Money Laundering Money Extradition Indian
Who is Jahanzaib Ali, Pakistani 'journalist' known for asking motivated questions against India to US State Dept
7 months, 3 weeks ago

Who is Jahanzaib Ali, Pakistani 'journalist' known for asking motivated questions against India to US State Dept

Op India  

On Thursday, a Washington-based ‘journalist’ named Jahanzaib Ali courted controversy after he raked up the dubious issue of ‘visa renewal rejection’ of Avani Dias by Modi governemnt. That's not… pic.twitter.com/5FIfM0Jvzd — ANI April 25, 2024 Contrary to his nefarious designs, the US State Department Principal Deputy Spokesperson Vedant Patel said, “The Government of India can speak to its own visa …

India Delhi Pakistan Khalistan Indian State Modi
CBDT signs record deals with businesses to avoid tax disputes
8 months, 1 week ago

CBDT signs record deals with businesses to avoid tax disputes

Live Mint  

The Central Board of Direct Taxes has signed a record number of deals with businesses in FY24 seeking to avoid audit of their cross-border transactions that meet certain conditions. This includes 86 ‘unilateral’ deals with businesses and 39 others which also involve tax authorities in other countries, called bilateral APAs. Cross-border transactions of multinational companies have in the past seen …

Tax Tax Authorities Transactions Cbdt Deals Signed
Respect sovereignty: India shuns fresh US comments
8 months, 3 weeks ago

Respect sovereignty: India shuns fresh US comments

Hindustan Times  

India on Thursday described as “unacceptable” the US administration’s call for fair and timely legal processes to deal with Delhi chief minister Arvind Kejriwal’s arrest and the freezing of the Congress party’s bank accounts, and said other states should respect the country’s sovereignty. The external affairs ministry had summoned a senior American diplomat on Wednesday to protest the US state …

India Delhi Congress Tax Authorities State Ministry Miller
Unacceptable, says India on US remarks on Kejriwal’s arrest, Cong’s ‘funds freeze’
8 months, 3 weeks ago

Unacceptable, says India on US remarks on Kejriwal’s arrest, Cong’s ‘funds freeze’

Hindustan Times  

NEW DELHI: India on Thursday described as “unacceptable” the US administration’s call for fair and timely legal processes to deal with Delhi chief minister Arvind Kejriwal’s arrest and the freezing of the Congress party’s bank accounts, and said other states should respect the country’s sovereignty. Delhi chief minister and AAP convenor Arvind Kejriwal comes out of the Rouse Avenue Court …

India Delhi Legal Congress Tax Authorities State Fair
Congress’ plea against tax re-assessment by I-T authorities dismissed by Delhi High Court
8 months, 3 weeks ago

Congress’ plea against tax re-assessment by I-T authorities dismissed by Delhi High Court

The Hindu  

The Delhi High Court on Thursday rejected the Congress’s plea challenging the initiation of tax reassessment proceedings against it for assessment years 2017 to 2021 by tax authorities. On March 22, the court had rejected the Congress’s plea challenging initiation of reassessment proceedings pertaining to assessment years 2014-15 to 2016-17. While rejecting the plea, the High Court said the Income …

High Court Congress Tax Authorities Assessment Income
IT tribunal dismisses Congress' plea against action by tax authorities
9 months, 2 weeks ago

IT tribunal dismisses Congress' plea against action by tax authorities

Hindustan Times  

​The Income Tax Appellate Tribunal on Friday dismissed the Congress’s appeal against action by tax authorities over alleged discrepancies in tax returns that the party says has crippled its functioning just weeks ahead of general elections. IT authorities have attached ₹65 crore from five bank accounts of the Congress and its youth and students’ wings against the lien of ₹115 …

Tax Authorities Party Income Crore Pti National Elections Maken
Technology from a tax perspective
10 months, 3 weeks ago

Technology from a tax perspective

Hindustan Times  

A paradigm shift is sweeping through tax management, driven by the convergence of powerful technological advancements. Today, cutting-edge technologies such as data analytics, Artificial Intelligence/Machine Learning, cloud computing and robotic process automation are enabling unprecedented levels of efficiency, accuracy, and sophistication in tax management. Technology isn't just helping in making tasks smoother and handling complex rules; in fact, it has …

Tax Data Tax Authorities Data Analytics Help Significant Rpa
Income Tax Authorities Can’t Step Into Shoes Of Businessmen To Determine Expenditure For Business Purpose: ITAT
1 year, 1 month ago

Income Tax Authorities Can’t Step Into Shoes Of Businessmen To Determine Expenditure For Business Purpose: ITAT

Live Law  

The Delhi Bench of Income Tax Appellate Tribunal has held that income tax authorities cannot step into the shoes of businessmen to determine how much expenditure should have been incurred for the purpose of business.The bench of Astha Chandra and B. R. R. Kumar has observed that activities clearly demonstrate that the assessee had incurred expenses. The Delhi Bench of …

Expenses Tax Income Indore Itat Assessee Ita
State GST Dept. Doesn’t Have Jurisdiction To Retain Amount Of Tax On Export Transactions: Bombay High Court
1 year, 5 months ago

State GST Dept. Doesn’t Have Jurisdiction To Retain Amount Of Tax On Export Transactions: Bombay High Court

Live Law  

The Bombay High Court has held that CGST/MGST authorities would not have jurisdiction to retain the amount of tax on export transactions.The bench of Justice G. S. Kulkarni and Justice Jitendra S. Jain has directed the state government to transfer the amount to the Central Government.The petitioner was required to deposit tax on the export transaction in question with the …

Tax Bombay High Court State Export Gst Authorities Petitioner
Dutch tax adviser arrested in Italy for extradition to U.S. on tax evasion charges
1 year, 5 months ago

Dutch tax adviser arrested in Italy for extradition to U.S. on tax evasion charges

NL Times  

Dutch tax adviser Frank Butselaar was arrested at his holiday home in the Italian village of Valfabbrica on Tuesday evening to be extradited to the United States. The tax adviser’s Italian lawyers argued during the hearing on Tuesday that the American authorities deliberately waited for Butselaar to arrive in Italy because the chance that the Netherlands would extradite him was …

Italy Dutch Netherlands Tax Evasion Tax Authorities Italian American
Congress alleges two offshore Adani-linked funds appeared to be on IT dept radar
1 year, 6 months ago

Congress alleges two offshore Adani-linked funds appeared to be on IT dept radar

The Hindu  

The Congress on May 30 alleged that two offshore Adani-linked funds appear to have been on the radar of Indian tax authorities since at least 2014 with no action evident other than one or two routine notices, as it reiterated that only a JPC can unearth the truth in the whole matter. The Congress cited a media report which claimed …

Congress Indian Adani No Action Indian Tax Authorities
US: Credit Suisse violates deal on rich clients’ tax evasion
1 year, 8 months ago

US: Credit Suisse violates deal on rich clients’ tax evasion

Associated Press  

GENEVA — Credit Suisse violated a plea agreement with U.S. authorities by failing to report secret offshore accounts that wealthy Americans used to avoid paying taxes, U.S. lawmakers said Wednesday, releasing a two-year investigation that detailed the role employees at the embattled Swiss bank had in aiding tax evasion by clients. Credit Suisse, whose yearslong troubles range from hedge fund …

Tax Credit Tax Evasion Tax Authorities Bank Senate Report
Delhi High Court Restrains Income Tax Dept From Acting On Show Cause Notice Issued To Kapil Sibal, Says Deal With His Objections First
1 year, 9 months ago

Delhi High Court Restrains Income Tax Dept From Acting On Show Cause Notice Issued To Kapil Sibal, Says Deal With His Objections First

Live Law  

The Delhi High Court on Thursday restrained Income Tax authorities from acting on the show cause notice issued to Rajya Sabha MP and senior lawyer Kapil Sibal on March 11 in relation to assessment proceedings pending against him. "In the meanwhile, the concerned officer will stay his hands vis-à-vis the show cause notice dated 11.03.2023," said the court. Delhi High …

High Court Tax Court Income Tax Delhi High Court Show Cause Notice Cause
‘Not in a position…’: US on I-T surveys at BBC offices in Delhi, Mumbai
1 year, 10 months ago

‘Not in a position…’: US on I-T surveys at BBC offices in Delhi, Mumbai

Hindustan Times  

The United States has said it is aware of the Income Tax department's survey at the British Broadcasting Corporation offices in New Delhi but it is not in a position to offer any judgment. US State Department spokesperson said Washington DC is aware of the ‘search’ of the BBC offices in Delhi by the income tax authorities. Police officers stand …

Search Tax Authorities Income Survey New Delhi Bbc Offices
UK Court Clears Fugitive Arms Dealer Sanjay Bhandari’s Extradition To India
2 years, 1 month ago

UK Court Clears Fugitive Arms Dealer Sanjay Bhandari’s Extradition To India

ABP News  

New Delhi: A UK court on Monday ruled that middleman Sanjay Bhandari, accused in arms deals, could be extradited to India to face charges related to tax evasion and money laundering, as reported by the news agency PTI. “However, I only do so on the basis of the Assurances that have been provided by the Government,” he said, with reference …

India Court Money Laundering Extradition Indian Tax Authorities New Delhi
GST Council Notifies Authorities On Actions To Be Taken Consequential To The Issuance Of A Show Cause Notice And Recurring SCNs In The Case Of Enforcement Actions
2 years, 2 months ago

GST Council Notifies Authorities On Actions To Be Taken Consequential To The Issuance Of A Show Cause Notice And Recurring SCNs In The Case Of Enforcement Actions

Live Law  

The Goods and Service Tax Council has notified the authorities regarding action consequential to the issuance of a Show Cause Notice and for the issuance of a recurring Show Cause Notice in the case of an enforcement action initiated by the Central authorities against a taxpayer assigned to a State and vice versa.It has been noted that varied practices are …

Action Tax Enforcement Show Cause Notice Council State Central
Unraveling the mystery of Erika Jayne’s $800K diamond earrings — and Tom Girardi’s finances
2 years, 4 months ago

Unraveling the mystery of Erika Jayne’s $800K diamond earrings — and Tom Girardi’s finances

LA Times  

Erika Girardi, aka Erika Jayne, at a 2020 fashion show in Los Angeles. Menzilcian declined to provide specific information as to the cut or clarity of the diamonds in the earrings, but he said the two stones — one for each ear — were “near flawless,” adding, “They were extremely large.” Erika Girardi possessed the earrings until at least 2007, …

Jewelry Tax Authorities Bankruptcy Los Angeles Beverly Hills Tom Pasadena
Cities call for more comprehensive plan in compensating child benefits scandal victims
3 years, 1 month ago

Cities call for more comprehensive plan in compensating child benefits scandal victims

NL Times  

Municipalities want the Tweede Kamer to oppose the Cabinet's new regulations surrounding the compensation of the victims of the child benefits scandal, the Dutch Municipality Union wrote in a letter to the Tweede Kamer. The VNG feared that they will be left alone in regulating the compensation for the thousands of victims of the child benefits scandal who Tax Authorities …

Parents Victims Tax Authorities Child Cabinet Child Benefits Vng
Faceless assessment: A paradigm shift in Indian revenue audits
3 years, 5 months ago

Faceless assessment: A paradigm shift in Indian revenue audits

Live Mint  

The Indian government has embarked on a journey of adoption of technology and digitization in governance processes and citizen services over the last few years. The faceless assessment scheme was launched in 2020 with the objective of promoting an efficient and effective tax administration, minimizing physical interface, increasing accountability and introduction of team-based assessments. Modus operandi Faceless assessment is administered …

India Tax Tax Authorities Assessment Video Conference Units Proceedings
China's ByteDance In Further Soup, Indian Authorities Freeze Bank Accounts For 'Tax Evasion': Report
3 years, 8 months ago

China's ByteDance In Further Soup, Indian Authorities Freeze Bank Accounts For 'Tax Evasion': Report

ABP News  

It has been a struggle for ByteDance's social media apps, including the popular short video App TikTok, in India after they were banned along with 59 other Chinese Apps in June of 2020. In a report published in Reuters, it has been informed that Indian authorities have blocked "bank accounts in Citibank and HSBC for alleged evasion of certain taxes …

India Indian Chinese Pan Bytedance Indian Authorities
Phishing e-mails and fraud scams on the rise: Tax authorities are fighting cybercrime
4 years ago

Phishing e-mails and fraud scams on the rise: Tax authorities are fighting cybercrime

NL Times  

Cybercriminals are increasingly trying to steal money by pretending to be from official Tax Authorities, using phishing e-mails, apps, and text messages. “That’s more than four times the 35,000 received in 2019, and it is only November,” says Jan Polkerman, chief technology officer of the Tax and Customs Administration. According to the Tax Authority, “Dutch people are now used to …

Tax Tax Authorities Phishing Messages