Tax Fraud

Timelines
Rs. 13 crore tax-fraud unearthed by UP-STF, sales tax department

14 Apr 2019

Rs. 13 crore tax-fraud unearthed by UP-STF, sales tax department

The Uttar Pradesh Special Task Force (STF) and the sales tax department have unearthed Rs. 13 crore tax fraud case involving two subsidiaries of a company which carried out the embezzlement by means of bogus invoicing, officials said Saturday.

New PAN card rules will come into effect from December

26 Nov 2018

New PAN card rules will come into effect from December

In a bid to prevent tax frauds, the Income Tax Department has come up with new rules on PAN cards.

#FinancialBytes: What is Form 26AS and how to view/download it?

13 Nov 2018

#FinancialBytes: What is Form 26AS and how to view/download it?

The Form 26AS, also known as Tax Credit Statement, is one of the important documents required for filing Income Tax Returns.

'The Accidental Prime Minister' director arrested on tax fraud charges

03 Aug 2018

'The Accidental Prime Minister' director arrested on tax fraud charges

Vijay Ratnakar Gutte, director of 'The Accidental Prime Minister', was arrested for alleged GST Tax fraud.

I-T department attached benami-properties worth Rs. 4,300cr since new laws

26 Jun 2018

I-T department attached benami-properties worth Rs. 4,300cr since new laws

Since enacting stringent laws on benami properties in November'16, the Income Tax (I-T) department has attached more than 1,500 such assets collectively worth Rs. 4,300cr.

'Panama Papers:The Aftermath' reveals 1.2mn fresh documents, including 12,000 Indians

21 Jun 2018

'Panama Papers:The Aftermath' reveals 1.2mn fresh documents, including 12,000 Indians

Two years after the scandalous Panama Papers leak, the whistleblowers, including the International Consortium of Investigative Journalists (ICIJ) and Indian Express, have come up with a staggering 1.2mn fresh documents.

IT-lens on salaried class after IBM, Infosys employees' fraud detected

20 Apr 2018

IT-lens on salaried class after IBM, Infosys employees' fraud detected

After several tax-evasion cases by salaried employees emerged in Bengaluru, Mumbai and Ludhiana, the income-tax department issued a caution recently asking tax payers not to under-report their income or claim incorrect deductions.

I-T working on more, better rewards for tax evasion informers

06 Apr 2018

I-T working on more, better rewards for tax evasion informers

The I-T Department is working on new rules to encourage people to provide information on tax evasion and benami transactions.

HC partially unfreezes Cognizant's bank-accounts, orders payment of Rs. 420cr

04 Apr 2018

HC partially unfreezes Cognizant's bank-accounts, orders payment of Rs. 420cr

A week after freezing bank accounts of Cognizant Technology Solutions in a Rs. 2,500cr tax-evasion case, the Madras HC has asked it to pay 15% (Rs. 420cr) to I-T in two days.

I-T freezes Cognizant's bank accounts over Rs. 2,500cr tax evasion

28 Mar 2018

I-T freezes Cognizant's bank accounts over Rs. 2,500cr tax evasion

The Income Tax (I-T) department has frozen some bank accounts of Cognizant Technology Solutions India P Ltd over alleged tax evasion to the tune of Rs. 2,500cr.

I-T scam: 447 companies illegally diverted TDS worth Rs. 3,200cr

05 Mar 2018

I-T scam: 447 companies illegally diverted TDS worth Rs. 3,200cr

Even as the Rs. 12,650cr PNB scam rages on, another massive fraud has come to light in which 447 companies illegally diverted funds worth Rs. 3,200cr to their own businesses.

Croatian football captain Luka Modric charged with false testimony

03 Mar 2018

Croatian football captain Luka Modric charged with false testimony

Trouble continues to mount for Croatian captain and Real Madrid ace midfielder Luka Modric, as Croatia's state attorney has charged the footballer with giving false testimony in a criminal trial.

'Debt-ridden' Vijay Mallya allowed to spend Rs. 16L a week

14 Feb 2018

'Debt-ridden' Vijay Mallya allowed to spend Rs. 16L a week

Vijay Mallya owes Rs. 9,800cr to Indian banks. Another Rs. 577cr was just added to his debts after Kingfisher Airlines lost a case against Singapore's BOC Aviation.

Sanchez sentenced to 16-months in prison but will avoid jail-time

08 Feb 2018

Sanchez sentenced to 16-months in prison but will avoid jail-time

Manchester United fans are thanking their stars right now.

Billionaire Nirav Modi charged in Rs. 280cr PNB cheating case

05 Feb 2018

Billionaire Nirav Modi charged in Rs. 280cr PNB cheating case

Billionaire diamond merchant Nirav Modi, his brother and wife have been booked by the CBI for allegedly cheating Punjab National Bank (PNB) of Rs. 280.7cr in 2017.

I-T attaches SRK's Alibaug farmhouse over several alleged violations

30 Jan 2018

I-T attaches SRK's Alibaug farmhouse over several alleged violations

I-T has provisionally attached Shah Rukh Khan's Deja Vu Farms Pvt Ltd at Alibaug under the Prohibition of Benami Property Transactions Act (PBPT).

Drug peddler nabbed after he declares income of Rs. 40L!

30 Jan 2018

Drug peddler nabbed after he declares income of Rs. 40L!

A drug peddler was nabbed in Bengaluru, only because he decided to file his income tax returns.

Panama Papers case: 4 more witnesses testify against Nawaz Sharif

11 Jan 2018

Panama Papers case: 4 more witnesses testify against Nawaz Sharif

Four more witnesses have reportedly testified against ousted-Pakistani PM Nawaz Sharif before an anti-graft court.

Now, I-T officers can access banking databases to catch defaulters

25 Dec 2017

Now, I-T officers can access banking databases to catch defaulters

It is now impossible for the tax defaulters/evaders to escape from the clutches of the Income Tax Department, as the Centre has amended the I-T rules, empowering the tax authority.

India-Switzerland to start automatic sharing of tax info from 2019

22 Dec 2017

India-Switzerland to start automatic sharing of tax info from 2019

India and Switzerland have signed a deal that would allow both to automatically share tax-related data from 2019.

1976 superhit movie 'Charas' in tax trouble 41 years later

29 Nov 2017

1976 superhit movie 'Charas' in tax trouble 41 years later

The 1976 Dharmendra-Hema Malini starrer superhit 'Charas' has ran into legal trouble more than four decades later.

Restaurants charging more post-GST? You can do these 3 things

24 Nov 2017

Restaurants charging more post-GST? You can do these 3 things

The GST Council, in its 23rd meeting in Guwahati, reduced the Goods and Services Tax rate for restaurants to 5% from 18%, which was expected to make eating out cheaper.

Paradise Papers: How Raj Kundra's family evaded taxes worth millions

13 Nov 2017

Paradise Papers: How Raj Kundra's family evaded taxes worth millions

One of the Indians named in the Paradise Papers leak is British citizen Raj Kundra, Shilpa Shetty's husband, and his parents.

#ParadisePapers: Did Prince Charles lobby to alter climate change policy?

08 Nov 2017

#ParadisePapers: Did Prince Charles lobby to alter climate change policy?

Numerous big names, including Queen Elizabeth-II and US commerce secretary Wilbur Ross have been named in the recently leaked Paradise Papers.

Paradise Papers expose how Apple avoided billions in taxes!

07 Nov 2017

Paradise Papers expose how Apple avoided billions in taxes!

The Paradise Papers revealed how Apple -the world's most profitable company- avoids billions in taxes using a secretive strategy.

Lewis Hamilton dodged taxes on private jet : Paradise papers

07 Nov 2017

Lewis Hamilton dodged taxes on private jet : Paradise papers

Lewis Hamilton's name has appeared in the massive "Paradise Papers" leak which revealed that the Formula 1 champion dodged tax on his 16.5 million luxury jet.

200 Hyderabad techies caught in income tax refund scam

27 Sep 2017

200 Hyderabad techies caught in income tax refund scam

Investigators from Hyderabad's Central Crime Station (CCS) have busted at least 200 IT employees for faking disability and chronic illness of family members to claim income tax refunds fraudulently.

Tax anomaly: Salman, Ranbir, Riteish, Ajay named in CAG report

05 Aug 2017

Tax anomaly: Salman, Ranbir, Riteish, Ajay named in CAG report

Several stars of Bollywood including Ranbir Kapoor, Ajay Devgan, Arjun Rampal, Riteish Deshmukh and even Salman Khan are under the scanner of the Comptroller and Auditor General (CAG) for alleged tax anomalies.

Project Insight: Your Facebook/Instagram post can soon detect tax frauds

28 Jul 2017

Project Insight: Your Facebook/Instagram post can soon detect tax frauds

Data analytics is one of the most lucrative career options in today's age. But most Indians probably weren't expecting the government's plans with it.

These mistakes in filing I-T returns will get you tax-notice

26 Jul 2017

These mistakes in filing I-T returns will get you tax-notice

Filing taxes shouldn't tax your brain. But we do end up making some mistakes every now and then, which later create problems.

Realty group Amrapali's two officials get arrested for fraud

25 Jul 2017

Realty group Amrapali's two officials get arrested for fraud

At least two officials of the realty group Amrapali were arrested by the Gautam Budh Nagar district administration for committing fraud on Tuesday.

Tax evasion: Case filed against CA linked to Misa Bharti

21 Jul 2017

Tax evasion: Case filed against CA linked to Misa Bharti

The ED has filed a case against a chartered accountant linked to RJD chief Lalu Prasad's daughter Misa Bharti.

Confused about which I-T return form to use? Know here

18 Jul 2017

Confused about which I-T return form to use? Know here

The window to file your income tax returns is ongoing, scheduled to end on July 31.

Bengaluru based start-up Practo being investigated for tax evasion

24 Jun 2017

Bengaluru based start-up Practo being investigated for tax evasion

Bengaluru-based healthcare start-up Practo is reportedly being probed by the Income Tax department for tax evasion allegedly through a cross-border corporate restructuring.

Manchester United boss Jose Mourinho accused of tax fraud

20 Jun 2017

Manchester United boss Jose Mourinho accused of tax fraud

Spanish prosecutors accused Manchester United manager Jose Mourinho of tax fraud during his managerial stint with Real Madrid.

Cristiano Ronaldo accused of €14.7 million tax evasion

13 Jun 2017

Cristiano Ronaldo accused of €14.7 million tax evasion

Soccer star Cristiano Ronaldo has been accused of defrauding Spanish tax authorities of €14.7 million in 2011-14.

Vijay Mallya's extradition hearing to resume on June 13

13 Jun 2017

Vijay Mallya's extradition hearing to resume on June 13

On June 13, the Westminster Magistrates Court in London will hear the extradition case of Vijay Mallya, where the Crown Prosecution Service will argue for the Indian government; CBI earlier provided officials necessary documents.

Messi,father lose SC appeal over 21 month prison sentence

24 May 2017

Messi,father lose SC appeal over 21 month prison sentence

Barcelona front man Lionel Messi and his father have lost an appeal against the Spanish Supreme Court's 21-month suspended prison sentence and €2 million fine imposed on Messi.

SC finds Mallya guilty of contempt of court, summons him

09 May 2017

SC finds Mallya guilty of contempt of court, summons him

The Supreme Court has found businessman Vijay Mallya guilty of contempt of court, and has summoned him before it on 10 July.

Neymar to stand trial in a corruption case

05 May 2017

Neymar to stand trial in a corruption case

Brazilian footballer Neymar is all set to face trial over the charges of corruption during his transfer to Barcelona in 2013.