Income Tax Fraud

Section 247 under the new Act allows authorised officers to access computer systems or virtual spaces, but strictly during search and survey operations where there is credible evidence of evasion

Alerts target taxpayers flagged through global data on undisclosed foreign holdings.

International agreement on data sharing allows government to flag overseas assets missing from tax returns filed

Income Tax officials have conducted investigations at offices and facilities of Waaree Energies, a company statement said. The Gujarat-based company is also facing investigations in the US for alleged evasion of duty on solar imports. In a filing to exchanges on Tuesday, the company said it is extending full co-operation to the IT officials. "...certain officials of the Income Tax (IT) Department visited some of the company's offices and its facilities in India for conducting investigation under the Income Tax Act, 1961," Waaree Energies said. The proceedings are underway and full co-operation is being extended to the officials, it said. In September, Waaree Energies said it will continue to cooperate with the US government in ongoing investigations against the company for alleged evasion of duty on solar imports. The company's subsidiary -- Waaree Solar Americas -- has an operational 1.6 GW module manufacturing facility in Texas, which is being expanded to 3.2 GW. Shares of Waa

Under the new Income Tax Act 2025, tax officers get wider powers from April 2026, allowing them to question anyone with access to records during searches

The Income Tax Department on Wednesday conducted a survey operation at various business premises of the Marico group on charges of tax evasion, official sources said. The action is being undertaken by the Mumbai investigation wing of the department. The tax department teams are scrutinising financial documents and transactions of the company as part of a tax evasion probe, they said. The company could not be contacted immediately for a comment on the I-T action. Marico is one of India's leading consumer goods companies operating in the global beauty and wellness categories. As per a company statement, during the 2024-25 fiscal it recorded a turnover of USD 1.3 billion through its products sold in India and chosen markets in Asia and Africa. As part of a survey operation, the tax department makes a surprise visit at the business premises of the entity under investigation.

The Enforcement Directorate (ED) on Friday said its preliminary probe into a multi-crore pan-India alleged fake input tax credit (ITC) fraud has found that "big MNCs" were benefiting from these illegal transactions. The Itanagar (Arunachal Pradesh) office of the federal probe agency carried out searches in this case on Thursday and covered about 10 premises in the northeastern state apart from Delhi, Haryana, Tamil Nadu and Telangana. The raids were undertaken in connection with a multi-crore fake ITC fraud following registration of a case under the Prevention of Money Laundering Act (PMLA), it said in a statement. ITC is a legal mechanism in the Goods and Services Tax system that allows business entities to reduce their tax liability by claiming credits on GST paid for business-related purchases. The case stems from a complaint against a company named Amit Traders, located in Assam's Guwahati, the agency said. The company was found to be "non-existent" at its declared address, it

The Income Tax (I-T) Department has detected ₹30,444 crore in undisclosed income during the 2024-25 financial year through 465 survey operations

I-T dept said move came after a series of outreach efforts, including SMS alerts, emails, and physical programmes, were made across various locations, nudging taxpayers towards voluntary compliance

Taxpayers flagged for bogus political donations risk scrutiny and penalties; experts advise keeping records and consulting professionals despite new Al tools.

Fraudsters posing as Income Tax officials dupe Mumbai woman by promising refunds. Know how to detect such false claims

The Income Tax Bill 2025 grants tax authorities the power to access personal digital spaces, including emails and social media, to track tax evasion starting in April 2026.

If passed, the new Income Tax Bill, 2025 will replace the Income Tax Act of 1961 and come into effect on April 1, 2026

Shah has denied any wrongdoing, arguing earlier in court that he used a legal loophole, which meant the trades did not break the law, and that he should be acquitted

The income tax department aims to detect discrepancies between declared income and foreign remittances, which could indicate potential tax evasion.

Karnataka Chief Minister Siddaramaiah on Saturday said the BJP is wrong if it thought that it can intimidate the Congress Party with "tax terrorism". Reacting to the Income Tax Department's fresh notice to the party asking to pay Rs 1,823 crore, Siddaramaiah alleged that the BJP is afraid of losing the Lok Sabha elections and hence "terrorising" the party by misusing central agencies. "The Bharatiya Janata Party, fearful of impending defeat in the upcoming Lok Sabha elections, has been misusing autonomous institutions like the IT Department, ED, and CBI to undermine the Congress Party. "As part of this tactic, they have unleashed tax terrorism' on our party. The BJP is under the illusion that by weakening our party, it can win the election," Siddaramaiah said in a statement. Quoting Congress leaders, the chief minister said that between 2017 and 2018, the BJP obtained contributions from 92 undisclosed donors and from 1,297 donors lacking address details. "Should the same criteria

Jharkhand Congress in-charge Avinash Pandey on Sunday said that a clarification has been sought from party MP Dheeraj Sahu in connection with the recovery of huge cash from premises linked to him. Pandey, however, clarified that is it a private matter of Dheeraj Sahu and the party has nothing to do with it. "Since he is Congress MP, he should make an official statement about how such a big amount of money came to him," Pandey said while speaking to media persons at Ranchi's Birsa Munda airport. He also said, "The party has a clear-cut stand that it is a private matter of Dheeraj Sahu, which has nothing to do with the Congress party. A huge pile of cash has been recovered so far in the searches conducted by the Income Tax department against Odisha-based Boudh Distillery Private Limited and entities linked to it. Premises linked to Sahu were also covered as part of the searches, according to officials. The seizure amount is expected to reach Rs 290 crore, making it the "highest-ever

Income Tax sleuths have, so far, recovered more than Rs 200 crore cash from several locations in Odisha and Jharkhand during their raids against companies allegedly linked to Sahu

Karnataka Chief Minister Siddaramaiah on Sunday accused the Centre of targeting only the Congress and not the BJP, in the wake of seizure of unaccounted cash amounting to over Rs 200 crore from premises allegedly linked to Jharkhand Congress MP Dhiraj Prasad Sahu. He was reacting to the recent Income Tax raids on the entities linked to Rajya Sabha MP Dhiraj Sahu in Jharkhand and Odisha. "They (BJP led central government) are only targeting Congress. Let them raid BJP leaders as well. Only then will it be known how much (ill-gotten wealth) they have," Siddaramaiah told reporters. The CM said whoever amasses black money is wrong, according to the Income Tax Act. Let the I-T department take action as per law. However, Siddaramaiah's grouse was that the central agencies were selectively targeting the Congress. "Why their action is aimed at only Congress leaders and not BJP? Huge money will be found if BJP people are raided,' the Chief Minister said. A huge pile of cash has been ...

The amount of cash recovered from Dheeraj Sahu's premises is the highest among corrupt people so far. Its amount has reached Rs 300 crore