Income Tax : The Income-tax Department is increasingly relying on AI-based verification and automated reconciliation systems to detect discrepa...
Income Tax : The new Income Tax Act, 2025 significantly reduces the number of statutory sections and reorganises tax compliance procedures effe...
Income Tax : The case emphasizes that ignoring clarification notices may result in denial of deductions and exemptions. Taxpayers must substant...
Income Tax : Many taxpayers receive notices despite exemption due to AIS-ITR mismatches. The case highlights that non-reporting of even exempt ...
Income Tax : This analysis explains how employer-leased cars reduce taxable salary since only a prescribed perquisite value under Rule 3 is tax...
Income Tax : A government official was arrested for demanding and accepting ₹1.5 lakh to wipe off outstanding tax liabilities. The key takeaw...
Income Tax : The C&AG’s audits ensure proper assessment, collection, and allocation of direct taxes, identifying evasion risks and improving ...
Income Tax : CBDT’s 2024-25 APA report details 174 new agreements, including record bilateral deals, advancing tax certainty and reducing cro...
Income Tax : All Odisha Tax Advocates Association requests due date extensions for AY 2025-26 ITRs and Tax Audit Reports citing portal glitches...
Corporate Law : Professionals request an amnesty scheme for partnership firms in Maharashtra to regularize past lapses and ease compliance with Re...
Income Tax : The Gujarat High Court held that revisional powers under Section 263 cannot be invoked merely because the Commissioner prefers ano...
Income Tax : Delhi High Court held that seized amount is prima facie proceeds of crime and not lawful income hence to treat such amounts as tax...
Income Tax : Mumbai ITAT allowed Mahindra & Mahindra's appeal, holding that advertisement and sales promotion expenses of ₹3.26 Cr for 'Mahin...
Income Tax : The ITAT in Mumbai has restricted an income tax disallowance on alleged bogus purchases for Quality Heightcon, capping it at 12.5%...
Custom Duty : Delhi High Court permitted the petitioner to pursue a customs duty appeal before CESTAT by depositing 50% of the required pre-depo...
Income Tax : The Income Tax Department increased monetary thresholds for assigning cases between ITOs and D/ACITs in Delhi Region. The revised ...
Income Tax : Nirmala Sitharaman Minister of Finance and Corporate Affairs Government of India Dy. No. 1759745 FM/FMP/2021 22/07/21 Message My h...
DGFT : Following DGFT services will not be available from 1 st June 2021 to 6th June 2021: i. Application for a new IEC ii. Application f...
Income Tax : A note said to be written by Shri. V G Siddhartha (VGS) of CCD is doing the rounds. Among others it was mentioned in the note abou...
Income Tax : The Income Tax Department today said that tax returns filed by senior citizens above 60 years and small taxpayers with gross total...
Analyzing the complexities of non-profit sectors globally, this guide on Assessment of Charitable and Religious Trusts and Institutions is key to understanding taxability of income & conditions for claiming exemptions. CBDT circulars & annexures included.
In-depth analysis of ITAT Kolkata order on Income Tax Department’s misuse of Section 68 powers. Dismissal of appeal for unexplained cash credit of Rs.3 Cr.
It’s essential to be aware of the various situations that may prompt such notices to ensure compliance with tax regulations. In this detailed exploration, we will examine different scenarios that can lead to notices from the Income Tax Department.
Received an SMS/Email from Income Tax? Explore insights on the high-value transactions advisory, its purpose, and how to respond. Understand the significance of AIS, discrepancies, and consequences of non-compliance. Stay informed with professional advice
Explore intricacies of new 20% TCS on NRIs’ remittances in India. Learn about exemptions, challenges, and strategic steps to recover additional tax burden.
In a recent search operation in Odisha, Jharkhand, and West Bengal, Income Tax Department reveals staggering tax evasion of a group involved in liquor, healthcare, and education businesses.
Discover how Income Tax Department’s new ‘Discard ITR’ feature simplifies tax filing & provides you more control over your tax paperwork.
In the case of G.K. Reddy vs. DCIT, Madras High Court has directed the Income Tax Department to lift the attachment of a pension account, considering the age and ailment of the assessee. Learn more about this judgment.
Explore the legal case of Fusion Engineering Products vs. Union of India regarding a delay in TDS deposit and the quashing of criminal proceedings. Analysis and insights.
Kerala High Court dismisses writ petition, upholding the validity of reassessment notices sent to the registered email address with the Income Tax Department.
