Lottery winning amounts are part of income from other sources, and they are liable for the income tax rate. Not just that, ...

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 ...

Advance tax payments are crucial for individuals with income beyond salary. The third instalment for Assessment Year 2026-27 is due by December 15, 2025. Missing deadlines incurs penalties. Taxpayers ...

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 ...

Many UAE-based NRIs accidentally file returns as Residents because: When this happens, the tax system assumes you are a ...

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 ...

The Punjab and Haryana High Court has directed the CBDT (Central Board of Direct Taxes) to issue a circular extending the ITR ...

The Tribunal ruled that reopening based solely on an Insight Portal flag without independent verification is invalid. It held that absence of tangible material and incorrect factual assumptions ...

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 ...