Income Tax : Analysis of Sections 87A and 115BAC(1A) of the Income Tax Act, 1961, detailing their implications for taxpayers, including rebates...
Income Tax : Stay updated with key changes and precautions in filing your Income Tax Return for FY 2023-24 to avoid penalties and ensure accura...
Income Tax : Learn about TDS on property purchase under Section 194IA of the Income Tax Act, 1961. Get insights on requirements, payment proces...
Income Tax : Discover the intricacies of Income Tax Returns (ITR) in India, from types of forms to required documents and compliance measures, ...
CA, CS, CMA : Discover the complexities of tax compliance for freelancers and gig workers, from understanding income sources to navigating legal...
Income Tax : Learn who can file ITR-7, how to file it, required information, and mandatory schedules. Detailed guide for assessees under variou...
Income Tax : Read CAASs recommendations for fair tax audit allocation, ensuring auditor independence and quality. They suggested automated allo...
Income Tax : In-depth analysis of the Income Tax Department crackdown in Chhattisgarh, uncovering a Rs. 13 crore scam involving a PEP, associat...
Income Tax : In a recent search operation in Odisha, Jharkhand, and West Bengal, Income Tax Department reveals staggering tax evasion of a grou...
Income Tax : Income Tax Department conducts search & seizure operation in Tamil Nadu and Puducherry, revealing tax evasion, unaccounted funds, ...
Income Tax : Rajasthan HC rules that using the Insight Portal for reopening income tax assessments under Section 148 is valid. Learn about Chat...
Income Tax : Detailed analysis of Dhoom Singh Sharma Vs ITO case where ITAT Delhi accepts agricultural income proof, overturning Rs.16.4 Lakhs ...
Income Tax : Telangana HC sets aside reassessment notices under Section 148 for not following the modified procedure of Finance Act 2021. Inval...
Income Tax : The Kerala High Court ruled that delays in approaching the revision authority under the Income Tax Act cannot be condoned. Learn m...
Income Tax : Karnataka HC ruled that pending income tax dues against borrowers don't prevent property registration for auction purchases. Learn...
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...
Income Tax : On or about 12th January 2010, an officer in the Income Tax department, Mumbai, noticed that refunds had been issued from his juri...
The government has initiated an inquiry into Cadbury India’s takeover by US-based Kraft Food Inc on Delhi High Court’s directive, for alleged tax evasion and flouting of buyout norms. The Finance Ministry has initiated the inquiry under the Income Tax Act on the order of the High Court, which asked the government last month to complete the probe within 8 weeks.
Satyam Computer Services Ltd. said Tuesday it has received a letter from India’s tax department requesting it to get its accounts audited for the tax assessment years of 2002-2003 and 2007-2008. No further details were provided in Satyam’s filing to
The Income-Tax Department on Sunday conducted searches in over a dozen premises of an Ahmedabad-based real estate development firm for tax evasion. Over a dozen premises of Shaladia Construction were searched in Ahmedabad and Gandhinagar for tax
The Income Tax Department has begun opening overseas tax units in countries with low tax. Income Tax Department ha opened two offices so far in Singapore and Mauritius and by March we will open another eight overseas locations like cyprus. These offices are primarily targeted in tax havens to prevent tax evasion.
Union Finance Minister Pranab Mukherjee praised the efforts and professional competence of the Income Tax Department in handling the Vodafone tax dispute efficiently in all the forums. The department at present expects the Rs 2,500 crore in tax colle
The Income Tax Department is conducting investigations in the case of BCCI-IPL and the franchisees to ascertain the source of investments by the teams, taxability of the income earned, taxability of the award of media rights and to detect violation
Income tax department’s schemes for speedy issuance of I-T refunds seem to be paying off well. Income tax refunds have picked up encouragingly during the first eight months of the current fiscal by 6.7 per cent compared to the corresponding period a
The Income Tax Department today conducted nation-wide searches at more than 30 premises of steel maker Ispat Industries in connection with alleged tax evasion. The searches were conducted at Mumbai, Nagpur, Delhi, Kolkata and 25 other places of the
The Enforcement Directorate is working in close coordination with the Income Tax Department for their probe into the overlays contracts award ED during the Commonwealth Games and may soon summon the firms concerned. According to official sources, the
Government auditor the Comptroller and Auditor General of India has written to the Cabinet Secretary to ensure that no records from the office of the Commonwealth Games organising committee are removed till the audit is complete. The CAG, sources said, had written to the Cabinet Secretary in October to take steps to ensure that no damage was done to papers relating to award of contracts for the Games.
