« Top Headlines » Open DEMAT Account in 24 hrs  How To File ITR Online - Step by Step Guide to Efile Income Tax Return, FY 2023-24 (AY 2024-25)  Old or new tax regime for TDS on salary? This post-election 2024 event will impact your tax planning  What Are 5 Heads Of Income Tax?  Income Tax Dept releases interim action plan for FY25 on tax collection, refund approvals   Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Income Tax Return: 5 lesser-known tax-saving tips from Section 80  Why you need not rush to file your ITR immediately  Income tax returns: ITR-1, ITR-2, ITR-4 forms for FY 2023-24 available for e-filing  Section 80DDB tax benefits for specified illnesses: 5 things to know  Income tax slabs FY 2024-25: Five tips to help taxpayers decide between old and new income tax regimes  ITR-1, ITR-2, ITR-4 forms for FY 2023-24 (AY 2024-25) available now on e-filing income tax portal «  CAG organises training programme for auditors... Institute of Chartered Accountants pushes global norm... » How Malhotra avoided I-T radar August, 08th 2007 Ashok Malhotra, the kingpin of Chholegate who was remanded to 14-day CBI custody on Tuesday, has not just left the Congress government in Delhi in tatters but has also exposed gaping holes in the multi-layered tax surveillance mechanism. On a day when the the urban development ministry also got into action, ordering a probe into allotment of plots meant for rehabilitation of slum dwellers between 2000 and 2002, the I-T department appeared to be waking up to the fact that Chholegate has made a mockery of the information tracking system thats designed to detect tax evasion and money laundering. Thanks to the tracking system, the I-T department has over the last few years been able to collect data on a host of high-value transactions from property purchases to credit card payments, purchase of shares and bonds, phone bills and car purchases, to name a few. In addition, the tax department also has access to details of club membership and association and ownership of companies and their business activities. The inadequacy of the surveillance mechanism today stands exposed with Malhotra successfully going around it and to buy just not a fleet of 17 swanky cars but a number of large properties too. I-T department, now much wiser from Chholegate, has now gathered information about Malhotra actually floating at least a dozen companies either in his own name or with others as front.