Adani News

Tag: Income Tax

  • IT seized 50 lakh gold and 20 lakh cash, yesterday’s raid in Raipur-Raigarh

    IT seized 50 lakh gold and 20 lakh cash, yesterday’s raid in Raipur-Raigarh

    Raigarh/Raipur. A jumbo team of Income Tax has raided 22 locations of steel traders in Raipur and Raigarh. The raids were conducted at plants, offices and homes in Raigarh, Sarangarh, Raipur, Mumbai and Kolkata. This group is more than 30 years old. It was told that the Income Tax team raided the establishments of Singhal Enterprises. Its operators are Sanjay Singhal, and Ajay Singhal (Agarwal). Singhal Enterprises are all the remaining companies under the main firm. These include Singhal Plant, Salasar Plant, Shyam Ispat and Singhal Energy located in Capital. Apart from this, the group also has a business of finance. Investigation is also going on at Shankar Nagar, Avanti Vihar, Chaubey Colony, Mowa and Khamhardih’s office residence of the people of the group.

    It was told that recently Singhal Industry had taken over Salasar Industry, due to which both the industries have come under the income tax radar. Apart from a CA located in Kalindi Kunj of Raigarh, the team is investigating in Singhal Industry located on Banjari Marg and Salasar Industry located in Gerwani.

    Singhal Group is counted among the biggest business groups of the state. A team of 100 Income Tax officers is standing by with the security of CRPF. Most of the Income Tax officers have come from Madhya Pradesh Circle. The team is being led by Deputy Commissioner DS Meena. When the teams reached the houses at 5 am, all the directors were found present. Information of some shell companies has also been received. Officers are verifying this. Along with this, 13 lockers have been found in the banks of Raipur, Raigarh which have been seized. Along with this, gold worth Rs 50 lakh and cash worth Rs 20 lakh has been recovered from the houses of both the brothers. The officers seized Rs 4 lakh and all the jewellery. They are yet to be evaluated.

  • Income Tax: Do investment planning for the financial year 2024 from now, you will be able to save money even in the new tax system

    Income Tax: Do investment planning for the financial year 2024 from now, you will be able to save money even in the new tax system

    Tax Saving Option: In Budget 2023, Finance Minister Nirmala Sitharaman had announced a new tax regime along with several announcements. This system has come into force from the financial year 2023-24 and it is being brought by default. Therefore, it is necessary to do proper investment planning from now itself to reduce the tax payment at the end of the year. In such a situation, today we are going to tell you some such ways, by which the investor can save tax even in the new year.

    1. Do investment planning in the beginning itself
      To take advantage of the new tax regime, start planning for various investment schemes right from the beginning. With this, apart from saving tax, you also get the benefit of good returns. Taxpayers can opt for Public Provident Fund (PPF), Equity-Linked Savings Scheme (ELSS), National Pension Scheme (NPS) and tax-saving Fixed Deposit (FD).
    2. Invest keeping in mind section 80C
      By the way, under the new tax regime, no tax deduction except Standard Deduction is being included. Still investment options like PPF, ELSS, NPS can be availed under section 80C of income tax, subject to a maximum of Rs 1.50 lakh. For this reason, before investing in any scheme, do check whether the benefit of this section is being received or not.
    3. It is necessary to file tax return on time
      To avoid paying any penalty or interest, it is important that taxpayers file their tax returns on time. For information, let us tell you that the last date for filing income tax return for any person is 31 July.
    4. Choose tax system according to benefits
      Before choosing any kind of tax system, keep in mind that which is going to benefit the taxpayer more. For example, if a person does not have much investment, then in this situation it is considered correct to go to the new tax regime, because in this income up to 5 lakhs, no tax will have to be paid.

    On the other hand, if a taxpayer has expenses like home loan, education loan, life insurance, health insurance, then it is right for him to keep in the old tax regime, because in this the taxpayer gets many tax exemptions like 80C, 80CCD, standard deduction meets.