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Direct Tax
Income Tax Dept. Eases Black Money Act Provisions for Small Foreign Assets
The Income Tax Department has introduced significant relief for taxpayers holding small-value foreign assets,...
Direct Tax
Fake Income Tax Emails Circulate: Fraudulent ‘Penalty Notice’ Targets Taxpayers
A fraudulent email disguised as an official communication from the Income Tax Department is...
Direct Tax
Cash Deposits Of Rs. 20.5 Lakhs From Demonetisation Not ‘Unexplained Money’ Under Section 69A: Chhattisgarh High Court
The Chhattisgarh High Court has held that the cash deposits of Rs. 20.5 lakhs...
Direct Tax
Rs. 2 Lakh Cost Imposed On Income Tax Dept. For Lodging Tax Evasion Prosecution Without ITAT Confirmation: Supreme Court
The Supreme Court has imposed the cost of Rs. 2 Lakhs on the income...
Direct Tax
15 Days Left, 3 Crore ITRs Pending: AIS-TIS, 26AS Not Working, OTP Glitches Trouble Taxpayers
As the deadline for filing Income Tax Returns (ITRs) draws closer, taxpayers and professionals...
Direct Tax
Interest on FD, Tax Refunds Linked to Operational Obligations Qualifies for S. 80IA Deduction: Bombay HC
The Bombay High Court has held that interest earned on fixed deposits and tax...
Direct Tax
Income Tax Dept. Begins Issuing Faster Refunds; Taxpayers Report Quick Credits
The Income Tax Department has begun issuing refunds for the Assessment Year (AY) 2025-26,...
Direct Tax
Wedding Gifts Under Income Tax Act Can’t Be Treated As Unexplained Income: ITAT
The Ahmedabad Bench of Income Tax Appellate Tribunal (ITAT) has set aside the...
Direct Tax
Income Tax Filing FY 2024-25: Key Deduction Limits and Documents Required Under Old Regime
With the deadline for filing Income Tax Returns (ITR) for Financial Year 2024-25 approaching,...
Direct Tax
Time Limit for Income Tax Notices
The Income Tax Department in India operates within fixed time limit for Income Tax...
Direct Tax
Rs. 20 Lakh Penalty for Cash Receipt in Property Sale Quashed: ITAT
In a significant ruling with implications for real estate transactions, the Income Tax Appellate...
Direct Tax
No Capital Gain Tax Payable On Property Transfer Between Spouses: ITAT
The Income Tax Appellate Tribunal (ITAT), Delhi Bench has held that no capital gain...
Latest articles
Columns
Russian Crude Makes Up Nearly 50% of India’s Oil Imports in June
India’s dependence on Russian crude oil strengthened further in June, with imports from Russia...
Indirect Taxes
Customs Seizes Hydroponic Weed Worth ₹4.83 Crore at Delhi IGI Airport
The Customs officers of the Air Intelligence Unit (AIU) at Indira Gandhi International (IGI)...
GST
Validity of Post-GST Service Tax Proceedings Upheld: Gujarat High Court Dismisses Challenge to S. 73 SCN
The Gujarat High Court has dismissed a writ petition challenging a service tax show...
Indirect Taxes
No Recovery After Repeal: Gujarat HC Sets Aside Excise Demand Based on Omitted S. 3A and R. 96ZQ
The Gujarat High Court has set aside a long-pending central excise demand against a...