WebJul 23, 2024 · An IT raid is a constitutionally valid mechanism by which the IT department tries to curb black money in the country. A raid is conducted on the basis of credible … WebIn light of the recent media news, wherein Income Tax Department carried out search and seizure operations on four Asset Reconstruction Companies (ARCs) which included … drone services oil and gas WebFeb 23, 2024 · Uflex Income Tax Raid News: Income Tax department sleuths on Thursday continued their raids for the third straight day at more than 70 locations of packaging company Uflex across the country.A total of 32 locations of the Group are being raided in Noida alone. According to a report by IANS, officials have so far recovered Rs 1.50 crore … WebDec 16, 2024 · The Income Tax Department on Wednesday said it has searched at least 60 premises linked to four asset reconstruction companies (ARCs) in Mumbai, Ahmedabad and Delhi for alleged irregularities. The search conducted on December 8 has found that the ARCs adopted “unfair and fraudulent trade practices in acquiring the non-performing … drones everywhere case study WebSep 9, 2024 · Taking into consideration the provisions of search and seizure under the Income Act, it could be seen that the raids can be conducted by the Income Tax Department on any person or on a group under the … WebDec 21, 2024 · Referring to the Income-Tax (IT) Department recently finding an unholy nexus between borrower groups and ARCs, a top public sector bank (PSB) official said: “Now, the fear is that old cases of ... color word interference test d'kefs WebDec 21, 2024 · According to the IT department, Invent ARC has done transactions of Rs 20,000 crore, and only 20% of it was sent to the respective bank as recoveries from NPAs ... the Income Tax department did raids on 60 premises related to the four ARCs they put under scanner, namely Invent ARC, CFM Asset Reconstruction Pvt Ltd, Omkara Assets …

WebDec 17, 2024 · Double Taxation Avoidance Agreement. Head Of Income; Interesting Income Tax; Miscellaneous; Doubt Forum; Downloads; CA/CS/CMA Firms WebDec 17, 2024 · The Income Tax Department carried out search and seizure operations on 08.12.2024 on four Asset Reconstruction Companies (ARCs). Total of 60 premises … color word interference test adhd WebSep 8, 2024 · Raid is also known as process of Search and Seizure, is one of the crucial weapons that the Income-tax department possesses to check black money. A raid is made under the following circumstances: Credible information of tax evasion. Information from government departments. Information procured from assessment records of taxpayers. WebKnow more about income tax search and seizure in India. ✓ Reasons for Income Tax Raids ✓ Tips to prevent from Income Tax Raid ✓ Procedures. drones everywhere at night WebSep 8, 2024 · Raid is also known as process of Search and Seizure, is one of the crucial weapons that the Income-tax department possesses to check black money. A raid is … WebMar 1, 2024 · The move follows a special audit conducted by the banking regulator after the income-tax department raided the premises of these ARCs in 2024, they said. In … drones export from india WebThe purpose of an income tax raid is to seize and curb illegal wealth/black money. Black money or unaccounted money refers to illegal income on which taxes have not been paid. It also includes income hoarded illegally or concealed from tax authorities. Therefore, it is important that one does not accumulate any amount of black money.

WebDec 28, 2024 · The recent income tax raid in Kanpur on businessman Piyush Jain isn't the first one case in Kanpur. 40 years ago, a raid similar to this nature happened which took the country by surprise. 0; 0; color word flash cards pdf WebJun 11, 2024 · Raid Under Income Tax Act, 1961. CA. Atul Khurana. In this article, you will get insights on Raids conducted by Income Tax Department. In India, Raid is a deadly situation for any assessee/person as it leads to lawful possession of all his assets, property, money etc. by Income Tax Authorities when he fails to produce the sufficient reason for ... drones everywhere