New Delhi: The Income Tax Department has notified the cost inflation index for the current fiscal to calculate long-term capital gains arising from the sale of immovable property, securities and jewellery. The cost inflation index (CII) is used by a taxpayer to compute gains arising out of the sale of capital assets after adjusting for […]
The I-T department did not specify the financial year for the refunds. However, it is believed that the refunds are for tax returns filed for the 2019-20 fiscal.
According to officials, the raids were carried out on November 27 in the case of an IT SEZ developer, its former director and a prominent stainless-steel supplier at 16 premises.
