Tag Archives: cbdt

Post-Demonetisation, Swift IT Raids Greet 400 Cases

Income Tax (IT) Department has carried out swift investigations in more than 400 cases since the de-monetization of old High Denomination (OHD) currency on 8th November, 2016. More than Rs. 130 Crore in cash and jewellery has been seized and approximately Rs.2000 Crore of undisclosed income has been admitted by the taxpayers, said a statement. Detecting serious irregularities beyond the ...

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Modi Govt to Raise Income Tax Exemptions in Budget Presentation

Prime Minister Narendra Modi, who vouched for no-tax regime during his electioneering but relented later, is now pondering soaps amounting to tax exemption of up to Rs.5 lakhs for all citizens. Only senior citizens are allowed such exemption under the current tax regime. Now that the new government has come to power, first move by the Narendra Modi government would ...

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