Income Tax : The FAQs explain that FAST-DS, introduced through the Finance Act, 2026, offers eligible taxpayers a one-time opportunity to discl...
Income Tax : The Income Tax Department explains how faceless assessments under Section 144B operate through the e-Filing portal without requiri...
Income Tax : The case highlights denial of TDS credit after an incorrect TAN was reported in the income tax return, even though the correct TDS...
Income Tax : The case demonstrates how an incorrect exemption claim based on Form 16 led to scrutiny and penalty proceedings. The Tribunal ulti...
Income Tax : Learn what TAN is, who must obtain it, how to apply, and where it must be quoted under the Income-tax Act. The guide also explains...
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 : Having regard to the gravity of the allegations, the ongoing investigation, the requirement of further probe into digital and fina...
Income Tax : ITAT Bangalore restored the issue of consultancy fee deduction to the Assessing Officer after noting that additional evidence rela...
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 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...
Design of the National Tax Headquarters has been finalized after holding an open competition in association with the Council of Architecture (CoA). Out of the 133 prequalified architects, 58 had participated in the competition. The entries were adjudged by an eminent jury comprising five architects and four non-architects. M/s Vistaar Architects & Planners, a Mumbai based architect firm finally won the design competition held by the Department of Revenue for the construction of National Tax Headquarters on Kasturba Gandhi Marg in the national capital. The results of the competition were announced yesterday by the Ministry of Finance.
The Centralized Processing Center of the Income Tax Department at Bangalore, which was established to mass-process Income Tax Returns has bagged the Gold Award in the category “Excellence in Government Process Re-engineering” at the 14th National e-G
In a bid to curb generation of black money during the upcoming assembly polls in five states, the Election Commission today asked the Income Tax department to keep a check on suspicious movement of cash and hawala brokers. At a high-level meeting C
The Bombay high court on Tuesday deferred a hearing on Vodafone Plc’s petition against the income tax authorities without specifying a new date for next hearing. The Bombay high court on Tuesday deferred a hearing on Vodafone Plc’s petition against t
The air travellers and courier service companies are under the scanner of air intelligence unit (AIU) of the Income Tax (I-T) department, which is trying to get to the black money trail in India. The AIUs conducted a series of search operations at va
The income tax department, known to be the largest litigant in the country, is working towards reducing the burden of court cases, a move which is in line with the National Litigation Policy mooted by the government last year. The department is mulli
Good news awaits hundreds of thousands of taxpayers in the country. The Income Tax department is mulling a proposal for providing them small refunds of below Rs 1 crore (Rs 10 million) within a month’s time. Delay in receiving income tax refunds has
In the largest ever cash seizure, the Income Tax department today said it has recovered Rs 44.2 crore of unaccounted money from three Delhi-based commodity traders. In search and seizure actions conducted by the Income Tax department on January 18
Salaried taxpayers with no other income could get a respite from filing tax returns. The income-tax (I-T) department is open to examining a proposal to exempt them from the annual chore. Asked whether the department would think about doing away with
The Income Tax department has summoned some high-networth individuals (HNIs), who were allegedly duped in Rs 400 crore fraud at Citibank, to obtain details of their investments and tax payments. Sources familiar with the development said the departme
