income tax

Taxpayers making less than Rs 10 lakh now make up a smaller portion of the income tax collection in Modi regime, the Income Tax Returns data shows.

Income Tax Department has summoned Assam Pradesh Congress Committee (APCC) president Bhupen Kumar Bora asking him to appear on 16 August

The IT dept initiated reassessment proceedings after discovering discrepancies in the Congress party's tax returns.

Congress earlier received notices for five years (Assessment Year 1994-95 and AYs 2017-18 to 2020-21) from the Income-Tax department.

The Delhi High Court had earlier this week dismissed the party's plea, challenging Income Tax Department's order opening of reassessment proceedings against it for 2017-18, 2018-19, 2019-20, and 2020-21.

The Delhi High Court delivered a decision that rejected the Indian National Congress Party's (INC) appeal against the Income Tax Appellate Tribunal's (Tribunal) decision to dismiss their application to halt the Income Tax Department's recovery proceedings for Rs 135 crores (comprising interest accrued).

The Income Tax Department had recovered Rs 65 crore from the accounts of the Indian National Congress out of the total outstanding tax dues of Rs 115 crore.

The Income Tax Department said that they acted with responsibility and their action was fully in line with the law to recover Rs 65 crore from the bank accounts of Congress party

The Income Tax Department recovered Rs 65 crores from the Congress party as a part of the total outstanding tax dues of Rs 115 crores.

Income Tax department said that it recovered ₹115 crore from Congress party’s 6 bank accounts, and the party is free to use the balance amount