Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The Bombay High Court’s ruling has been kept by the Apex court, which restored the assessing officer’s 100% addition of Rs 20.06 crore as fake purchases u/s 69C, dismissing the Special Leave Petition. The court, post-hearing the counsel and analysing the record, does not discover any reason to interrupt with the findings of the High […]
The Central Board of Direct Taxes (CBDT) Chairman, Ravi Agrawal, stated that the income tax department, under the facilitated Income Tax Act 2025, shall notify the new ITR forms and pertinent rules by January. From 1 April 2026, these updated regulations will come into force, marking the transition from the nearly six-decade-old Income Tax Act […]
In India, managing taxation and compliance is one of the most difficult tasks of running a business. Tax Deducted at Source (TDS) is the main component of the income tax system among these compliance duties. Penalties and interest will be charged for minor errors like late payments, delayed filings, or incorrect deductions. Here, the technology […]
The Madras High Court ruled that under the new income tax regime, approval from a higher authority, like the Principal Chief Commissioner of Income Tax or the Principal Director General, is obligatory to issue a notice u/s 148 of the Income Tax Act after the lapse of a three-year limitation period. Justice C. Saravanan mentioned […]
For the tax audit report (TAR), CBDT has extended the last date to November 10, 2025, and the income tax filing return (ITR) to December 10, 2025, for specified tax audit cases. Specific classes of taxpayers are skipped by the income tax department from this extension, which implies that those excluded will still need to […]
The Mumbai ITAT restored the case to the AO, holding that denying the Section 10(25)(ii) exemption solely because the assessee used the wrong ITR form was only a procedural lapse. The taxpayer, Tata International Limited Provident Fund, whose income was waived u/s Section 10(25)(ii) of the Act, had filed its income return in Form ITR-7 […]
Since the government has rolled out the new fraud detection measure to curb the bogus or inflated refund claims, the income tax refunds of India have been reduced this year. As per the official data, between April and October 2025, there is a fall in the refunds issued by approximately 16% year-on-year, slipping from about […]
A Mumbai-based taxpayer was in trouble when it was discovered that the TDS credit of Rs 96 lakh (96,12,846) was missing from his Form 26AS. He gets a tax notice demanding Rs 1 crore, which includes interest under Sections 234B and 234C, even after reporting the related income in his ITR and filing the required […]
The Delhi Bench of the Income Tax Appellate Tribunal (ITAT) reversed an addition of Rs. 9.99 lakh that had been made u/s 69C of the Income Tax Act, 1961. This addition was related to cash payments made for credit card bills, which were initially classified as unexplained by the tax authorities, citing them as derived […]
