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...
TAN or Tax Deduction and Collection account number is a unique ten digit alpha-numeric number required to be compulsorily obtained by all persons who are responsible for deducting or collecting tax at source on behalf of Income Tax Department. Section 203A of the Income tax Act, 1961 makes it mandatory to quote TAN in all […]
It said the tax authorities should treat each taxpayer as a customer of the Tax Department and make adversarial approach between taxpayer and department a thing of the past. Customer focus should be strengthened and taxpayers should be provided with facilitating services to encourage him to comply with the taxation rules which should be easy.
Every taxpayer should check his account with Income tax department. In this account he should check his previous and current year’s status, and thereafter take appropriate decision. Also one should note that the income tax department’s website is updated continuously, therefore one should recheck status on timely basis.
The Central Bureau of Investigation has today arrested an Income Tax Officer, posted at Khatima, Udhamsingh Nagar (Uttarakhand) for demanding & accepting a bribe of Rs.One Lakh from the complainant.
An Income Tax Commissioner was Wednesday directed by the Delhi High Court to get himself psychologically assessed for making “lewd” and “scurrilous” statements against female colleagues despite previous warnings.
Income Tax Department, Jaipur invites applications from Advocates / ex officers of the Income Tax Department / ex Members of the ITAT having requisite qualifications and experience for empanelment as Senior / Junior Standing Counsel to represent the Income Tax Department before the Jaipur Bench of Rajasthan High Court and other appellate forums.
The outsourcing of infotech functions by the Income Tax (IT) Department has emerged after extensive discussions, rigorous evaluation and comprehensive examination by various authorities. Till now no instance has come to light of involvement of Vendor Personnel of Service Providers of Centralised Processing Centre (CPC) and E-filing in data leak and refund frauds.
The Income Tax Department, Applications are invited from meritorious sports persons satisfying the requirements as mentioned in Annexure-1 for appointment to the posts of Tax Assistants, Notice Servers & Multi Tasking Staff.
The Income Tax Department today said that tax returns filed by senior citizens above 60 years and small taxpayers with gross total income of less than Rs 10 lakh will not be scrutinised in a routine manner. “It has been decided that during the financial year 2011-12, cases of senior citizens and small taxpayers, filing income-tax returns in ITR-1 and ITR-2 will be subjected to scrutiny only where the Income Tax department is in possession of credible information,”Central Board of Direct Taxes said in a statement.
The Government is mulling a probe by the Enforcement Directorate and the Income-Tax Department into the role of two Mauritius-based entities to identify their stakes in Devas Multimedia Pvt Ltd which executed the controversial S-band deal with the ISRO. It is also contemplating investigation into the activities of certain unknown government officials for their “collusive behaviour” and acts of omission and commission in extending undue favours to Devas at the Government exchequer’s cost.
