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Income Tax Department finds Rs 5 crore cash in his house; Know how a 2008 circular saved him from prosecution
On April 2016, the income tax department conducted a search raid operation in Krishnaswami’s residence and found Rs 5 crore (4,93,84,300) cash which they considered as unaccounted and thus seized it.
The Supreme Court overturned Krishnaswami's tax evasion prosecution, citing the Income Tax Department's violation of its own circulars. The court emphasized that CBDT circulars are binding and the ...
Income Tax: Understand 5 key income tax provisions for Indian taxpayers, including the basic exemption limit, Section 80C deductions, capital ...
An illustration of a magnifying glass. An illustration of a magnifying glass.
When individuals enter retirement, they mark a shift from wealth accumulation to capital preservation and stability in income flows. Without a consistent and seamless flow of regular salary, managing ...
In the fall of 2021, Emma Johnson was ready to move into her new apartment and begin her senior year at UC San Diego. The school guarantees campus dorms for students’ first two years, but most juniors ...
EL PASO, Texas (Border Report) – The money citizens working abroad send home to relatives each month is one of the pillars of the Mexican economy. Remittances last year totaled $64.7 billion, or about ...
Get all latest income tax news, act, article, notification, circulars, instructions, slab on Taxguru.in. Check out excel calculators budget 2017 ITR, black money, tax saving tips, deductions, tax ...
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