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Tag: Income tax department

  • Infosys To Receive Rs 6,329 Cr Tax Refund From IT Dept | Companies News

    New Delhi: Infosys expects a refund of Rs 6,329 crore from the Income Tax Department, the country’s second-largest IT services company said. It also informed the stock exchanges about tax demand to the tune of Rs 2,763 crore, citing various assessment orders.

    Infosys Ltd said it has received orders from the Income Tax Department for assessment years 07-08 to 15-16, 17-18, and 18-19 during the quarter. “As per the orders, the company expects a refund of Rs 6,329 crore (including interest). 

    The company is in the process of evaluating the implications of these orders on the financial statements for the quarter and year ending March 31, 2024,” Infosys said in a BSE filing.

    Infosys, which competes with TCS, Wipro and others in the market for IT services contracts, is scheduled to declare its financial results for the fourth quarter of the current fiscal year as well as the full FY24 on April 18. (Also Read: Zomato Gets Tax Demand Order Of Rs 23.26 Crore)

    The Bengaluru-headquartered IT company also said it has received an order for assessment year 22-23 with a tax demand of Rs 2,763 crore, including interest, and for assessment year 11-12 with a tax demand of Rs 4 crore, interest included.

    Infosys has received assessment orders for subsidiaries as well, totalling Rs 277 crore.

    These include assessment orders for assessment years 21-22 and 18-19, respectively, with a total tax demand of Rs 145 crore; orders for assessment years 22-23 with a tax demand of Rs 127 crore; and for assessment years 22-23 entailing tax demand of Rs 5 crore – all of them inclusive of interest.

    “The company is in the process of evaluating the implications of these orders on the financial statements for the quarter and year ending March 31, 2024, and also evaluating filing appeals against these orders,” Infosys said.

    Further, a subsidiary of the company has received refund orders under Section 254 for assessment years 07-08 and 08-09 and under Section 154 for assessment years 16-17, it said, adding that the refund amount as per these orders is Rs 14 crore. (Also Read: TCS Achieves New Milestone; 3.5 lakh Employees Trained In Generative AI Skills)

    “The company is in the process of evaluating the implications of these orders on the financial statements for the quarter and year ending March 31, 2024. As on March 29, 2024, the above orders cumulatively exceed the materiality criteria as prescribed under Regulation 30 of the Listing Regulations (as amended), and accordingly this disclosure is submitted,” Infosys said.

  • College Student Receives Income Tax Notice For Rs 46 Crore Transaction: 'My PAN card has been misused'

    On Friday he persisted and visited the office of the Additional Superintendent of Police to file a formal complaint regarding the unauthorized transactions. 

  • Source of revenue Tax Division interrogated Mukhtar Ansari’s aide in benami belongings case, in custody since June 20

    Mukhtar Ansari has purchased benami belongings within the identify of his shut ones. The Source of revenue Tax Division is wondering his colleague Ganesh Dutt Mishra referring to this.

  • Lucknow Information: Source of revenue Tax Division raids furnishings broker in Lucknow, stir amongst buyers

    Source of revenue TaxRaid: After GST in Uttar Pradesh, Source of revenue Tax Division has now change into energetic. The Delhi IT division workforce raided the Shankutalam Plywood trade status quo in Lucknow. Throughout this, main points of suspicious transactions were discovered within the paperwork.

  • Lucknow Information: Cheated via distributing faux becoming a member of letter, arrested for dishonest within the title of process in Source of revenue Tax Division

    Lucknow: The Hazratganj police of Uttar Pradesh’s capital Lucknow have arrested Laxmi Narayan Chaturvedi, accused of dishonest unemployed youths within the title of having them jobs. Lakshmi Narayan is accused of duping cash via making ready faux paperwork within the title of having a role within the Source of revenue Tax Division. In reality, final month, faux jobs had been busted within the Source of revenue Tax Division of Lucknow, by which some other folks together with Priyanka Mishra had been arrested. Police declare that Laxmi Narayan used to be Priyanka’s touch.

    DCP Central Aparna Rajat Kaushik mentioned that any other accused Laxmi Narayan Chaturvedi has been arrested within the case filed via the Source of revenue Tax Division at Hazratganj police station. Then again, all through police interrogation, it has come to the fore that the primary accused within the case used to be in touch with Priyanka Mishra and together with her, the preparers used to speak about getting jobs right away via promising jobs and faux appointment letters to the applicants.

    Priyanka and Lakshmi Narayan used to do cash transactions amongst themselves. The arrested accused Laxmi Narayan Yadav, 45, is a resident of New Ashok Nagar, Delhi. At the present, Laxmi Narayan has been produced within the courtroom and despatched to judicial custody.

    Remaining month, the forgery of giving jobs within the Source of revenue Tax Division got here to the fore from the workplace premises of the Source of revenue Tax Division within the capital Lucknow. This gang used to be distributing faux appointment letters to the folk whilst sitting within the canteen of the Source of revenue Tax Division. On this case, the police had arrested seven other folks together with Priyanka Mishra. Faux stamps of the Source of revenue Tax Division and lots of paperwork had been additionally recovered from them. A grievance used to be given on this regard via the Source of revenue Tax Division on the Hazratganj police station.
    Enter- Abhay Singh

  • Kanpur Information: Why does the frame of an IT officer no longer stink? Love marriage used to be accomplished 7 years in the past, refused to use chemical substances within the frame

    Kanpur: A stunning incident has come to mild in Kanpur, UP. The circle of relatives of Vimlesh, posted within the Source of revenue Tax Division, used to be residing together with his useless frame for the closing one and a part years. Vimlesh’s folks say that we’ve got no longer implemented any roughly chemical within the son’s frame. If the son had died, his frame would have began to stink. Vimlesh’s folks saved pronouncing until the closing rites that my son is alive. On the similar time, GSVM Clinical School medical doctors also are stunned that why the useless frame didn’t scent for one and a part years. The flesh of the frame used to be caught to the bones. The frame used to be utterly dry.

    Vimlesh Dixit, residing in Krishnapuri space of ​​Rawatpur police station space, used to be posted as Assistant Accountant Officer in Source of revenue Tax Division, Ahmedabad. Within the circle of relatives, the daddy is retired from Ramavatar Ordnance Manufacturing unit. Mom Ramdulari lived with two brothers and spouse Mithali, a five-year-old son, a three-year-old daughter. Vimlesh’s spouse Mitali is posted within the cooperative financial institution. Vimlesh turned into severely in poor health right through the Corona duration. Vimlesh died on 22 April 2021 right through remedy. The medical institution had issued the demise certificates of Vimlesh. If the circle of relatives didn’t consider, then after demise, they had been taken to any other medical institution. Anywhere the medical doctors declared Vimlesh as demise.

    Why did not the frame scent
    The fogeys of IT officer Vimlesh Dixit have claimed that no chemical has been used within the son’s frame. The mummy’s father says that within the early days, when water used to return out of the son’s frame, he used to scrub it with Gangajal after which with datal. There used to be some scent to start with, however after a couple of months the scent stopped.

    Dr. Suniti Pandey, Head of the Division of Anatomy, GSVM Clinical School, says that there are lots of micro organism within the frame. Those micro organism get started taking impact 8 hours after demise. Inexperienced colour comes at the proper aspect of the stomach, then spreads to the entire frame. which is known as autolysis. Externally, the impact of micro organism and flies used to be no longer conceivable because of the care of Vimlesh’s folks. Protecting the useless frame in a ventilated room does no longer reason sore throat. The moisture of the useless frame progressively disappeared. Because of the cleanliness of the outside, the frame didn’t rot. All of the frame used to be mummified.

    Vimlesh did love marriage
    Vimlesh Dixit had a love marriage with Mithali seven years in the past. Mithali used to be an orphan since adolescence. After marriage, Mithali were given a role within the cooperative financial institution situated in Kidwai Nagar. Vimlesh and Mithali have a five-year-old son, a three-year-old daughter. Vimlesh had authorised that her husband had died, however she used to be forced via the insistence of her folks. Vimlesh had advised the Source of revenue Tax Division that the husband had died. Even after this, the oldsters have saved the useless frame in the home.

    how the incident took place
    Vimlesh Kumar used to be no longer going to the task for the closing one and a part years. The members of the family of Vimlesh saved claiming to be alive. Because of which the Source of revenue Tax Division used to be no longer ready to publish its ultimate document. A letter used to be written on behalf of the Source of revenue Tax Division to Kanpur DM inquiring for to behavior an inquiry in regards to the demise of the AO officer. In this, DM had written a letter to Kanpur CMO Alok Ranjan and ordered an inquiry.

    CMO Alok Ranjan had shaped a three-member workforce below the management of Deputy CMO Dr. Gautam. The workforce reached Vimlesh Kumar’s space on Friday. The family began protesting towards taking the useless frame. In this the police drive additionally reached the spot. In step with the ideas, the psychological situation of the spouse of the deceased isn’t just right. Deputy CMO says that some chemical has been implemented within the useless frame.
    Enter- Sumit Sharma

  • Kanpur Information: Folks had been dwelling with son’s frame for 1 12 months, spouse used to sprinkle ‘Gangajal’ on husband each morning

    Kanpur: A surprising image has come to the fore in Kanpur, Uttar Pradesh, which has given other people goosebumps. In April ultimate 12 months in Rawatpur house of ​​Kanpur, the family of the deceased stored his lifeless frame of their area at a personal clinic for such a lot of days at the assumption that he used to be in coma and alive. The deceased has been known as Vimlesh Dixit, running within the Source of revenue Tax Division. The incident got here to gentle on Friday when the policemen and Justice of the Peace, in conjunction with well being officers, reached the person’s area to research a case and located the frame there.

    Leader Scientific Officer (CMO) Dr. Alok Ranjan mentioned that Vimlesh Dixit died on April 22 ultimate 12 months, however the circle of relatives used to be reluctant to accomplish the ultimate rites as they believed Dixit used to be in a coma.

    He mentioned that I used to be knowledgeable by means of the Source of revenue Tax officers of Kanpur, who asked a probe into the subject. The CMO mentioned that after the scientific staff reached his area, the members of the family had been insisting that Vimlesh used to be alive and in a coma. After a lot persuasion, the members of the family allowed the well being staff to take the frame to Lala Lajpat Rai (LLR) Clinic, the place he used to be declared introduced lifeless on scientific exam.

    The CMO mentioned {that a} three-member staff consisting of Dr. AP Gautam, Dr. Asif and Dr. Avinash has been constituted to research the subject and publish the document on the earliest.

    An legitimate mentioned at the situation of anonymity that Vimlesh’s spouse used to sprinkle ‘Gangajal’ at the frame each morning as she was hoping that doing so would lend a hand her pop out of her ‘coma’. The legitimate mentioned the circle of relatives had additionally informed their neighbors that Vimlesh used to be in a ‘coma’. One of the most neighbors informed the police that members of the family had been continuously noticed sporting oxygen cylinders house.

    Police mentioned that the frame used to be totally decomposed. An legitimate mentioned that Dixit’s spouse seems to be mentally susceptible. Kanpur Police mentioned in a observation that the non-public clinic had said within the loss of life certificates that Vimlesh Dixit died on April 22, 2021 because of a surprising middle assault.

  • Congress slams Centre over ‘raids’ towards CPR, Oxfam India, IPSMF

    By way of PTI

    KANYAKUMARI: The Congress on Wednesday slammed the Centre over “raids” towards some Delhi-based think-tanks alleging that this can be a planned transfer to exterminate all unbiased media and voices.

    The Source of revenue Tax division on Wednesday carried out raids and surveys in quite a lot of states in separate circumstances associated with alleged tax evasion, FCRA violations, and illicit investment of registered unrecognised political events, reputable resources stated.

    The operations additionally centered the Centre for Coverage Analysis (CPR), international NGO Oxfam India, and Bengaluru-based Unbiased and Public-Spirited Media Basis, with raids on their premises.

    Congress basic secretary Jairam Ramesh stated it is completely atrocious that analysis & advocacy organisations, and unbiased charitable trusts like CPR, Oxfam, and IPSMF had been raided “on the behest of High Minister Narendra Modi and House Minister Amit Shah.”

    “It is a planned transfer to exterminate all unbiased media and voices!” Ramesh stated in a video remark from right here.

    KANYAKUMARI: The Congress on Wednesday slammed the Centre over “raids” towards some Delhi-based think-tanks alleging that this can be a planned transfer to exterminate all unbiased media and voices.

    The Source of revenue Tax division on Wednesday carried out raids and surveys in quite a lot of states in separate circumstances associated with alleged tax evasion, FCRA violations, and illicit investment of registered unrecognised political events, reputable resources stated.

    The operations additionally centered the Centre for Coverage Analysis (CPR), international NGO Oxfam India, and Bengaluru-based Unbiased and Public-Spirited Media Basis, with raids on their premises.

    Congress basic secretary Jairam Ramesh stated it is completely atrocious that analysis & advocacy organisations, and unbiased charitable trusts like CPR, Oxfam, and IPSMF had been raided “on the behest of High Minister Narendra Modi and House Minister Amit Shah.”

    “It is a planned transfer to exterminate all unbiased media and voices!” Ramesh stated in a video remark from right here.

  • I-T raids at premises connected to businessmen in Chhattisgarh; Congress takes dig at Centre

    Through PTI

    RAIPUR: The Source of revenue Tax Division on Wednesday carried out raids at a couple of places connected to a few businessmen in Chhattisgarh, police officers mentioned.

    The searches are underway since early this morning in several districts together with Raipur and Raigarh.

    Police officers in those districts showed that the IT groups assisted via the Central police drive are provide on the premises, together with workplaces, of a few metal and coal investors and civil contractors.

    The character of the motion being performed via the I-T division isn’t but transparent, they mentioned.

    Chhattisgarh Leader Minister Bhupesh Baghel informed journalists on the Raipur airport that he had already predicted raids via the Source of revenue Tax and the Enforcement Directorate (ED).

    “I had mentioned (that raids will occur)… now ED can even observe them,” Baghel mentioned when requested concerning the motion via the IT division.

    Remaining week, Baghel had mentioned his “well-wishers” knowledgeable him that Chhattisgarh will quickly see raids via the ED and IT as a result of MLAs of the ruling UPA coalition from neighbouring Jharkhand have been staying at a lodge close to Raipur.

    The legislators of the JMM-Congress-RJD coalition had stayed within the lodge for 6 days earlier than they have been flown again to Ranchi on Sunday.

    Commenting at the raids, Chhattisgarh Congress communique wing’s leader Sushil Anand Shukla alleged the Modi govt has been misusing the Central probe businesses.

    “There are experiences that raids are being performed via I-T on the premises of a few businessmen. The way in which the Modi govt is misusing Central investigation businesses, a slogan ‘kednra sarkar ke youngster jamai (sons-in-law), ED, IT, and CBI’ has transform commonplace amongst other people,” he mentioned.

    Shukla alleged the Modi govt has misused the Central businesses towards its political combatants such a lot within the closing 8 years that even if I-T conducts raids as a part of the regimen investigation it’s also noticed as a politically motivated workout.

    In June-July this 12 months, the I-T division raided a number of puts in Chhattisgarh together with the premises of coal dealer Suryakant Tiwari and the home of a central authority professional posted on the Leader Minister’s Workplace (CMO).

    RAIPUR: The Source of revenue Tax Division on Wednesday carried out raids at a couple of places connected to a few businessmen in Chhattisgarh, police officers mentioned.

    The searches are underway since early this morning in several districts together with Raipur and Raigarh.

    Police officers in those districts showed that the IT groups assisted via the Central police drive are provide on the premises, together with workplaces, of a few metal and coal investors and civil contractors.

    The character of the motion being performed via the I-T division isn’t but transparent, they mentioned.

    Chhattisgarh Leader Minister Bhupesh Baghel informed journalists on the Raipur airport that he had already predicted raids via the Source of revenue Tax and the Enforcement Directorate (ED).

    “I had mentioned (that raids will occur)… now ED can even observe them,” Baghel mentioned when requested concerning the motion via the IT division.

    Remaining week, Baghel had mentioned his “well-wishers” knowledgeable him that Chhattisgarh will quickly see raids via the ED and IT as a result of MLAs of the ruling UPA coalition from neighbouring Jharkhand have been staying at a lodge close to Raipur.

    The legislators of the JMM-Congress-RJD coalition had stayed within the lodge for 6 days earlier than they have been flown again to Ranchi on Sunday.

    Commenting at the raids, Chhattisgarh Congress communique wing’s leader Sushil Anand Shukla alleged the Modi govt has been misusing the Central probe businesses.

    “There are experiences that raids are being performed via I-T on the premises of a few businessmen. The way in which the Modi govt is misusing Central investigation businesses, a slogan ‘kednra sarkar ke youngster jamai (sons-in-law), ED, IT, and CBI’ has transform commonplace amongst other people,” he mentioned.

    Shukla alleged the Modi govt has misused the Central businesses towards its political combatants such a lot within the closing 8 years that even if I-T conducts raids as a part of the regimen investigation it’s also noticed as a politically motivated workout.

    In June-July this 12 months, the I-T division raided a number of puts in Chhattisgarh together with the premises of coal dealer Suryakant Tiwari and the home of a central authority professional posted on the Leader Minister’s Workplace (CMO).

  • UP Information: Through implementing a tremendous of fifty lakh at the Source of revenue Tax Division, the Allahabad Prime Court docket stated – abuse of energy isn’t allowed

    Prayagraj: The arbitrariness of officers has turn into an issue for the Source of revenue Tax Division. The Allahabad Prime Court docket has issued a route to deposit the damages of Rs 50 lakh within the High Minister’s Reduction Fund inside of 3 weeks. The courtroom has given this order bearing in mind the problem of understand at the motion of source of revenue tax evaluate at the quantity no longer deposited in Financial institution of Baroda after which bearing in mind the objection as an abuse of energy.

    The Prime Court docket has directed the Source of revenue Tax Division to deposit this quantity within the High Minister’s Nationwide Reduction Fund in 3 weeks, whilst implementing a repayment of Rs. Then again, at the request of the Further Solicitor Normal, the courtroom has postponed the execution of the repayment quantity until the date of listening to on September 1. This choice has been given via a department bench of Justice SP Kesarwani and Justice Jayant Banerjee at the petition of SR Chilly Garage.

    The courtroom has additionally quashed the source of revenue tax evaluate motion and see in opposition to the petitioner. At the side of this, the Finance Secretary of the Central Executive used to be additionally directed to expand the sort of machine in a month, through which the knowledge of the portal is proper. In order that no taxpayer is . The arbitrariness of the officers must be stopped and duty will also be mounted.

    The petitioner deposited Rs 3 crore 41 lakh 81 thousand in Union Financial institution, whilst no money used to be deposited in Financial institution of Baroda. Nonetheless, motion used to be taken at the allegation of depositing Rs 13 crore 67 lakh 24 thousand in Financial institution of Baroda. The petitioner objected that he had no longer deposited the cash in Baroda Financial institution. The petitioner alleged that the portal is traumatic, there is not any listening to and the Fundamental Leader Commissioner of Source of revenue Tax does no longer even know the fundamental ideas.

    The Source of revenue Tax Division argued within the courtroom that the petition used to be no longer maintainable. He has the appropriate of enchantment. The courtroom stated that it’s important to imagine the objection. Prime Court docket can come to a decision on selection aid. The petition isn’t a question of truth, this is a topic of legislation, through which case listening to will also be accomplished.