Tribunal remands ₹88 lakh disallowance of long-term service award to the AO for fresh verification as employee-wise computation for the relevant year was not on record. Claim can be allowed only after ...

The Delhi High Court has held that internal disputes between the Directors of a company is not 'genuine hardship' under Section 119(2)(b) of the Income Tax Act 1961, preventing timely filing of ...

In 2026, the rules for property tax deduction underwent important changes — the limits were revised, the document submission ...

The Senior Deduction can be as high as $6,000 ($12,000 for married couples filing jointly)—but you won't be able to deduct ...

Gifts from relatives are exempt from tax, while gifts over ₹50000 from non-relatives are taxable. Gifts received during ...

Applying the Supreme Court’s principle, the Tribunal held that an explanation unproved but not disproved cannot attract Section 271(1)(c) penalty. It noted that the department failed to show falsity ...