The Income Tax Appellate Tribunal ( ITAT ), Chandigarh Bench, has recently, in an appeal filed before it, held that the income tax authorities should charge legitimate taxes from the assessee and that penalty cannot

The income tax department has stated that the provisional figures of Direct Tax collections up to 10th January, 2023 continue to register steady growth. Direct Tax collections up to 10th January, 2023 show that gross collections are

Several UAE-based Indian ex-pats have been receiving notices from the Indian income tax department in relation to their previous investments in India. These notices have led to concerns among Non-Resident Indians (NRIs) about the next

The Delhi bench of Income Tax Appellate Tribunal (ITAT) recently held that Income Tax Penalty under section 271E of Income Tax Act 1961 could not be imposed mechanically. Assesee Devinder Gupta & Sons an Hindu

The Central Board of Direct Taxes (CBDT), vide notification S.O. 2992(E), published on 7th July 2023, has notified the amendment of the Jurisdiction of the Income Tax Authority in Bengaluru. The Central Board of Direct

The Income Tax Department, in a recent tweet, warned the taxpayers of a fake account posing as customer care/helpline of the Income Tax Department. There was a tweet from the fake account with the Twitter

Following the news reports that no scrutiny will be done in case of Income-tax returns filed by the registered political parties in the context of deposits of old currency notes, the CBDT today clarified that

Suzlon Energy Ltd, a company dedicated to providing renewable energy solutions, faced a setback recently when it was hit with a hefty penalty of ₹260.35 crore by the National Faceless Assessment Centre of the Income

The Income Tax Department mandated the PAN-Aadhar linking with a fine of Rs 1,000by June 30th 2023. However, the same penalty is not applicable to the PAN holders who took the PAN cards on or

The Central Board of Direct Taxes (CBDT) notified the Clarification regarding the limitation time for filing of Income Tax Appeals before the CIT (Appeals). The Board has issued a Circular dated 30th April 2021 providing

The Central Board of Direct Taxes (CBDT) last day has informed that the non-filers can submit the income tax returns within 21 days. Non-compliance after this period would also lead to proceedings under the Income

The income tax department is planning to investigate on the use of fake Permanent Account Number ( PAN ) Cards in view of the large usage of the same in the market trading. For this,

As part of its efforts to curb black money, the Income Tax Department has been taking various actions, including issuing notices to taxpayers. If you are a taxpayer, it is essential to understand the different

The Central Board of Direct Taxes ( CBDT ) has released the FAQs (Frequently Asked Questions) on the Income Tax e-Verification Scheme 2021. “The FAQs on the e-Verification Scheme, 2021 aim to provide general guidance

The Delhi bench of the Income Tax Appellate Tribunal (ITAT) held that the Income Tax deduction cannot be denied on the ground of a return filed belatedly under Section 139(4) of the Income Tax Act,