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...
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.
The Dutch government has approached India on behalf of Vodafone’s Netherlands unit to settle a three-year-old tax dispute involving a Rs 11,000 crore claim, an Indian newspaper reported on Monday. The Netherlands has asked India to consider an alternate dispute resolution that will run parallel to the ongoing court process, the paper said, quoting unnamed tax and government officials.
After days of number crunching and close to four rounds of hearing with Vodafone, the Income Tax Department on October 22, 2010, raised an order demanding the final amount of Capital Gains Liability Tax that the UK based telecom giant will have
