Advance tax rules: Who must pay, who is exempt and how quarterly deadlines work
Individuals with a net tax liability exceeding Rs 10,000 must pay advance tax in four installments, with specific exemptions for resident senior citizens without business ...
ITR filing FY 2024-25: Why are tax refunds delayed this year? AIS mismatches, verification checks & more explained
Income tax refunds are significantly delayed this assessment year, with processing times extended even for routine cases. Official data shows a substantial drop in refund ...
Overseas holdings under scrutiny: IT dept flags non-disclosure; taxpayers get last chance to revise ITRs- get details
The Income Tax department is alerting taxpayers with undisclosed foreign assets about potential penal action. Individuals identified with unreported overseas assets for AY 2025-26 will ...
Tax refunds scrutiny: CBDT flags wrongful claims; why high-value payouts are stuck-here’s what the IT department says
The Income-Tax Department is withholding some high-value refund payments due to detected wrongful deduction claims in flagged filings. Legitimate refunds are expected to be cleared ...
Tax refund update: CBDT gives concurrent powers to CPC Bengaluru for rectifications; what it means for taxpayers
The CBDT has empowered the Income Tax Commissioner at Bengaluru’s CPC to directly rectify assessment order mistakes under Section 154. This move aims to expedite ...
Aishwarya Rai Bachchan was sent a tax notice related to disallowance of income: Here is how she won the Rs 4 crore case in ITAT Mumbai
Aishwarya Rai Bachchan won a Rs 4 crore tax case against the Income Tax Department. The ITAT Mumbai ruled in her favor, stating the Assessing ...
A Rs 22 crore tax notice built on AI-generated “court rulings”? What the Bombay High Court just ruled
A taxpayer successfully challenged a Rs 22 crore tax demand after the Income Tax Department cited three non-existent court rulings, allegedly suggested by AI. The ...
Income Tax department doubts Rs 10 lakh gift – brother gets tax notice for cash received from sisters; how he appealed & won the case
A businessman successfully proved cash gifts from his sisters were legitimate, avoiding tax evasion charges. The Income Tax Appellate Tribunal ruled in his favor, accepting ...
Income Tax department doubts Rs 10 lakh gift – brother gets tax notice for cash received from sisters; how he appealed & won the case
A businessman successfully proved cash gifts from his sisters were legitimate, avoiding tax evasion charges. The Income Tax Appellate Tribunal ruled in his favor, accepting ...
Income Tax department doubts Rs 10 lakh gift – brother gets tax notice for cash received from sisters; how he appealed & won the case
A businessman successfully proved cash gifts from his sisters were legitimate, avoiding tax evasion charges. The Income Tax Appellate Tribunal ruled in his favor, accepting ...
