The Latest Breaking News from Income Tax

Sleuths of the Income Tax department were carrying out raids at multiple properties of bullion trader Narayan Das in Varanasi.

These ongoing raids across the country are part of an investigation into potential financial irregularities, officials said. Read further on Dynamite News

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%.

The federal government taxes unemployment benefits. But is unemployment taxable in your state?

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…