Chidamraram, his wife Nalini, son Karti and daughter-in- law Srinidhi had filed four pleas for quashing of the notice from the IT department.
Income Tax officers raided 187 locations across four states on Thursday, targeting 10 groups running shell firms, 3 of which belong to Sasikala's family. The searches have also reached the premises of Midas Distilleries and Jazz Cinemas, I-T officers said. The two entities are perceived to be associated with some of those linked to Jaya TV.
The Tamil channel is controlled by AIADMK and arrested party leader VK Sasikala, while it was founded by late Chief Minister Jayalalithaa.
In a statement issued here, Paramjit Singh Kainth, president of the NSCA, has urged the central government to raise income tax slab for the Scheduled Castes from the present Rs 2.5 lakh per annum to Rs 6 lakh.
The department believes that new ITBA system can expedite all pending cases, barring e-mail based scrutiny cases, to e-proceeding based scrutiny cases.
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In an effort to increase tax collection and clamp down on tax evasion,the income department has asked for clarifications with regards to cash deposits carried out in FY11, The Economic Times reported.
The Prime Minister has reportedly set a target for officials to double the number of GST taxpayers to 3 crore in the next 12 months.
Filing taxes without linking them is going to be a burden as a PAN number is necessary for the same.One must get a new PAN card which can take anywhere from two to four weeks to arrive.
Crackdown soon on thousands investment advisory firms, realty companies, hotels, grain mills, media houses based on SFIO,CBI, I-T and ED data
The department has decided to use persuasion to communicate with taxpayers and send them reminders and such important messages
The statement by the tax department follows some doubting the numbers over different figures quoted at different points of time.
The I-T department came across the fresh names while probing the money trail of the market operators.
Finance Minister Jaitley had earlier said that every account named is being probed and that nobody would be punished without a proper process.
It is imperative to check if your PAN is still active as the deadline to link Aadhaar with PAN ends on August 31.
E-filing of ITR is mandatory for all individuals except those whose income is less than Rs 5 lakh per annum and who are above 80 years of age
You should efile your returns well within the stipulated deadline to avoid penalties and future problems with the tax department.
The Ministry of Finance, however, said the returns will not be processed until the two numbers are linked.
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The Income Tax returns filed after November 8 last year were scrutinised against their earlier tax compliance following which these cases were detected.
The bizarre demand has left many of them perplexed as they are not comfortable sharing details of their foreign account with the I-T department which cannot tax earnings generated from such assets.
The affidavit said that during the three year period, searches were undertaken by the IT department in over 2,027 groups "which led to the admission of undisclosed income of more than Rs 36,051 crore".
Rule 114E of the Income Tax Rules says banks, including cooperative banks, have to report to taxmen cash deposits aggregating to Rs 10 lakh or more in a financial year, in one or more accounts (other than a current account and time deposit) of a person.