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...
Punjab & Haryana HC sets aside IT Act notices issued without faceless assessment, reaffirming adherence to statutory provisions in Bhartiya Cottex case.
Discover the risks and penalties of submitting fake rent receipts to claim HRA exemptions and learn how to comply with tax regulations effectively.
Calcutta HC dismisses IT Dept’s appeal for delay of 1923 days, citing insufficient explanation and urges prompt filing within limitation periods.
Punjab & Haryana HC rules that Income Tax circulars can’t override statutory provisions, setting aside notices issued contrary to Income Tax Act.
Learn about the partition of Hindu Undivided Family (HUF), its legal process, tax implications under Section 171, and the criteria for recognition by tax authorities.
Madras High Court directs the Income Tax Department to resolve a compounding application within 4 weeks, addressing delays in processing.
Over 34 lakh Audit Reports filed on the e-filing portal by October 7, 2024, showing a 4.8% increase from last year, according to the Income Tax Department.
Madras High Court held that lease rent received from letting out property in industrial park is chargeable to tax under the head ‘Income from Business’ and not under the head ‘Income from house property’.
Learn why Income Tax refunds are failing due to unlinked PAN with bank accounts, the implications, and how taxpayers can resolve this issue.
Jharkhand High Court held that prosecution under section 276(C)(1) of the Income Tax Act liable to be quashed in absence of any penalty provision against the petitioner.
