After Anna , its time for Baba Ramdev to get government agencies ire. Media report suggest that the income tax department is in process of completing its report  on Baba Ramdev’s trusts and Ayurveda ventures. It is rumored that there is every chance that a case for tax evasion against the trusts associated with the yoga guru [...]

Vodafone wins ! Supreme Court of India has just  set aside a Bombay High Court judgement directing  Vodafone International Holding to pay income tax of Rs 11,000 crore on its buy transaction with Hutchison .Readers may recall that what had actually was the issue between Vodafone and Income Tax Department was explained in earlier post Complex issue of [...]

I-T demands have been pegged at staggering Rs 1,01,836 crore as per latest data .CAG is already very sensitive to huge arrear of tax . Therefore , the Income Tax Department has started work on tax payers who are “untraceable” or have reported inadequate assets to pay back tax demands. The department has also decided [...]