Former Co-Founder of CloudMagic Inc Rishit Jhunjhunwala Named Truecaller CEO

07 Nov 2024

Software company Truecaller on Thursday named Rishit Jhunjhunwala as its new chief executive officer (CEO). Jhunjhunwala is the current chief of products in the Swedish company and has been working with Truecaller since 2015. Jhunjhunwala, who has worked for Truecaller since 2015, is also the managing director of the company's...

LS Elections 2024: ITD Seizes Record Rs 1100 Crore Cash And Jewellery

31 May 2024

During the current Lok Sabha elections, the Income Tax Department has successfully seized a record-breaking Rs 1100 crore in cash and jewelry, according to sources who spoke to ANI. The sources claim that by May 30th, the department had confiscated jewelry and cash totaling almost Rs 1100 crore, an increase...

PAN-Aadhaar Not Linked? TDS Penalty Deadline Extended: What Happens Next?

26 Apr 2024

The Income Tax Department recently announced an extension in the deadline for imposing penalties related to non-deduction of double TDS for taxpayers with unlinked PAN-Aadhaar. This decision comes as a relief to individuals and entities who were facing penalties for not deducting higher TDS due to the absence of a...

IT Department deploys 100 officers in Uttarakhand for Lok Sabha Polls to curb black money

21 Mar 2024

Ahead of the Lok Sabha elections, the Income Tax Department has deployed a team of 100 officers and employees in Uttarakhand's five Lok Sabha constituencies to crack down on black money and unaccounted cash. Election activities are being closely monitored 24/7 from a control room. The Air Intelligence Unit is...

Avoid Penalties: Income Tax Warning – Dec 31 Last Date for ITR!

29 Dec 2023

The Income Tax Department has issued a warning to taxpayers who missed the July 31 deadline to file their Income Tax Return (ITR) for the financial year 2022-23. Through a post on social media platform X, the department emphasized that these taxpayers must file the belated/revised ITR by December 31,...

Delhi HC stays Income Tax proceedings against Oxfam India

14 Aug 2023

The Delhi High Court has stayed the income tax reassessment proceedings against NGO Oxfam India. The court issued a notice to the Income Tax (I-T) Department and demanded its response to a petition filed by the non-profit organisation, challenging the notices and orders released against it. A survey was conducted...

Direct tax collections are up at Rs 6.53 lakh crore so far

12 Aug 2023

Until now, Gross Direct tax collections in India in the financial year 2023-24 have seen steady growth with a total wind-up at Rs 6.53 lakh crore. There is a 15.73 per cent increase over the amount received in the same period last financial year. The Net Direct Tax collection, net...

Income Tax surveys at BBC offices enters day 3

16 Feb 2023

At least 10 senior employees of the BBC have not gone home since the IT department launched a ‘survey’ at their offices in Delhi and Mumbai, sources said as the operation entered its third day on Thursday, 16 February 2023 Meanwhile the IT officials gathered financial data from staff and...

“We are aware of search of BBC offices… by Indian tax authorities”: US

15 Feb 2023

In a statement the United States revealed that they are aware of the searches being conducted at the offices in Delhi and Mumbai by Indian Tax authorities. “We are aware of the search of BBC offices in Delhi by Indian tax authorities,” said a spokesperson of the US State department,...

Income Tax surveys continued at BBC offices in Delhi and Mumbai

15 Feb 2023

The Income Tax (IT) department continued its surveys on Wednesday at the offices of BBC in Delhi and Mumbai for the second day. On Tuesday, the IT department conducted a survey at the offices of British broadcasting media in the nation’s capital, Delhi and Mumbai with a view of outlet’s...