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!
« General »
Open DEMAT Account in 24 hrs
 How to calculate income tax on stock market gains along with your salary?
 Moonlighting for Additional Income? Know Its Tax Implications
 Have you claimed education cess? Be prepared to pay tax as per the new rules
 Reserve Bank - Integrated Ombudsman Scheme, 2021 (RBIOS, 2021)
 How is tax computed for selling a house?
 How much tax do you pay on equity investments?
 Fuel taxes: Centre s gains striking since FY16
 Tax rules for NRIs on sale of assets located in India
 ITR filing: Know tax rules that apply to freelancers in India
 Delhi Real Estate News: NDMC extends last date for property tax payment with amnesty scheme
 Citizens must file THESE ITR related forms before due date Income Tax Returns

IT queries RBI on Lalit Modis credit card payment
September, 04th 2010

The taxman has contacted the Reserve Bank of India (RBI), raising queries on certain international credit card payments of former Indian Premier League (IPL) commissioner Lalit Modi reports Media sources.

After a lull in the tax investigation thee is a new twist to IPL probe. It is learnt that as part of the IPL investigation that was conducted against Modi, there were certain credit card payments made by him which came under observation of the investigation wing of the Income Tax department. There are three main reasons which raised suspicions against Modi.

Sources add that these credit cards were linked to foreign banks. Also the credit cards were in the name of certain confidants of Modi. And thirdly the most important reason is that those confidants hold stake in IPL franchisees.

It is learnt that the Central Board of Direct Tax has written to RBI asking about the details of the credit cards. CBDT wants to know the quantum and nature of expenses incurred by the credit cards used by Modi.  Besides the CBDT is seeking details whether payments made by the credit cards were accounted in IPL books or not and if accounted then under which category gifts or loans.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2024 CAinINDIA All Right Reserved.
Designed and Developed by Ritz Consulting