The Latest Breaking News from Income Tax

The Income Tax department has revoked the tax exemption status of four non-government organisations – Oxfam India, CARE India, Legal Initiative for Forest and Environment, and Environics Trust, Newslaundry learned from sources and top officials linked to these organisations. The tax exemption was reportedly revoked about two weeks ago.

WRD Engineer-in-Chief & Chief Engineer General called for Income Tax returns of the department’s officials and their family members for the last three financial years and the list of properties owned by them, with their current market value.

Deputy Chief Minister D.K. Shivakumar on Friday claimed that the Income Tax searches in Bengaluru on the residences of contractors, who had alleged 40% commission in contracts during the previous BJP rule, were “politically motivated”. This drew a sharp reaction from the Opposition that claimed the money seized was “commission”…

A 38-year-old man was caught with 37.772 kilograms of silver at a railway station in the state capital Bhopal. Read further on Dynamite News:

How much will your children —or other heirs — pay when you die? That depends on whether you live in a state with no death tax.

India's direct tax collections rose 21.8%, surpassing over half of Budget estimates. Refunds of up to ₹5,000 not restricted. Tax demands from past being raised, some due to tech shift. 7.27 cr returns filed, 7.15 cr verified. Gross collections up 18%, PIT revenues 29.5%. Net revenues 31.85%.

Actor C. Joseph Vijay's writ petition against I-T Dept's ₹1.5cr penalty for not disclosing ₹15cr income adjourned 3 wks. Interim injunction granted to restrain I-T officials from recovering penalty. I-T Dept. filed counter affidavit explaining reasons for penalty. Penalty levied beyond limitation period, judge granted injunction. Search & seizure operation…

Resolution Foundation analysis claims stealth move of freezing tax thresholds will raise £40bn a year

Starting next year, people who want to buy a new or used electric or plug-in hybrid vehicle will be able to get U.S. income tax credits at the time of purchase

The A.P. CID has submitted as ‘proof’ to the ACB Court the receipt of ₹27 crore by the TDP in 2018-19 only with an intention to prolong the case against former Chief Minister Chandrababu Naidu. Details of donations exceeding ₹20,000 given to the political parties in cash are informed to…

Income Tax Department is raiding three dozen locations of Mayur Group in Kanpur. More than 100 officers are conducting raids with heavy police deployment. Read the full report on Dynamite News: