Income Tax ‘nudge’ for 25k cases of unreported foreign assets, income
The Income Tax Department has launched a fresh campaign targeting individuals with undeclared overseas assets and income. Around 25,000 high-risk cases will be initially contacted ...
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 ...
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 ...
UBS settles French tax case: Bank to pay 835 million euros; 14-year legal saga ends with lower penalty
UBS has reached a settlement with French authorities, agreeing to pay 835 million euros to resolve a 14-year-old legal battle over assisting wealthy clients in ...
Next-gen GST reforms will make eco transparent: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman announced upcoming GST reforms aimed at creating a more open and transparent economy, reducing compliance burdens for small businesses. The proposed ...
Group of ministers on GST to meet next week
GST Overhaul: Are Simpler Taxes on the Horizon? The Goods and Services Tax (GST), India’s most ambitious indirect tax reform, is once again under the ...
Jane Street not cooperating with authorities; I-T probe faces hurdles: Report
Jane Street is reportedly not cooperating with the Income Tax Department’s investigation into alleged tax evasion and market manipulation. Access to the company’s servers is ...
Tax evasion or underreporting: CBDT sees whopping Rs 20,000 crore income tax recovery; almost double of last year
The CBDT collected ₹20,000 crore in pending dues in the first quarter, doubling last year’s figures, driven by income-tax demand notices. With a recovery target ...
