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 ...

What will the extra lucky winner do with their $875 million Powerball Jackpot? The odds of winning the jackpot are 1 in 292.2 ...

In a landmark decision on November 19, 2025, the ITAT Hyderabad ruled that severance packages is to be classified as taxable ...

Explore the significant delays in income tax refunds for FY 2024-25, their causes, including AIS mismatches and processing ...

The Delhi High Court recently condoned the delay by an assessee in filing his Income Tax Return, citing his health condition as 'genuine hardship' under Section 119(2)(b) of the Income Tax ...

The notice provides an optional interim simplified method of determining whether a corporation is an applicable corporation for purposes of the corporate AMT and relief from the Sec. 6655 penalty for ...

From November 28, 2025, CBDT will send SMS and emails to Indian taxpayers with foreign assets for voluntary disclosure.

For years, the core question for taxpayers has been: "What is my asset truly worth in the eyes of the law, and how much value should be shown in my return?" Relying on assumptions, hearsay, or partial ...

As per the latest update, the process could be completed by end of December. However, did you know the IT department is ...

The income tax base is growing faster than the number of those conscientiously filing returns, driven by the expanding reach ...