Need Tally
for Clients?

Contact Us! Here

  Tally Auditor

License (Renewal)
  Tally Gold

License Renewal

  Tally Silver

License Renewal
  Tally Silver

New Licence
  Tally Gold

New Licence
 
Open DEMAT Account with in 24 Hrs and start investing now!
« Top Headlines »
Open DEMAT Account in 24 hrs
 Top 5 tax-saving investment options for salaried individuals to consider before March 31, 2025
 5 lesser lesser-known avenues of tax saving you can use to save income tax before March 31, 2025
 March 15 is deadline for last advance tax installment: Know if you must pay
  5 small savings options that save tax under Section 80C
 ITR filing 2025: How often can Indian taxpayers switch between new and old income tax regimes?
 Tax planning for 2025: How to maximise your savings before March 31 deadline
 New income tax bill reaches Parliament: Finance Minister Nirmala Sitharaman tables I-T Bill 2025 in Lok Sabha

Raju served IT notice
February, 14th 2009

The cup of woes for B Ramalinga Raju seemed to be full as income tax officials drove down to the Chanchalguda jail on Thursday and
served a notice on him for evading taxes.

According to sources, the former Satyam chief refused to accept the summons without consulting his lawyer first. However, he relented after the IT officials explained to him that acceptance of the notice would not betantamount to guilt.

The summons were served under section 131 of the Income Tax Act which empowers officials to examine the person under an oath and `compelling the production of books of account and other documents.' The summons are the first step in the investigation procedure, I-T sources said. "Very soon, the I-T department will also move a petition in the court seeking permission to record a statement from Ramalinga Raju on the Satyam fraud," an official said.

To gather details on the software export statistics of Satyam, the IT department
has also written to the Reserve Bank of India (RBI) seeking the Software Exports Declaration (SOFTEX) forms issued by the Software Technology Parks of India (STPI) to Satyam. The department has also written to various banks that have dealings with Satyam to send the bank reconciliation statements of the IT major.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2025 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting