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Income Tax Department

CA Shares Experiences, Raises Red Flags Over JioFinance & TaxBuddy’s “Rs. 24 ITR Filing” Claim

Kavi Priya

A Chartered Accountant has warned taxpayers to be cautious about the “Rs. 24 ITR Filing” scheme promoted by JioFinance in partnership with TaxBuddy....

Only Profit Element Taxable as Sales and Manufacturing Activity is Not Disputed: ITAT upholds...

Calcutta HC Dismisses Writ Petition as Income Tax Dept Not Interested to pursue Demand u/s 143 [Read...

Vedanta’s Bharat Aluminium Company Hit with ₹1.03 Crore Income Tax Penalty

Common reasons for ITR-V rejection and How to Re-file

Income Tax Filing: ITR-3 & ITR-4 Updated Return Filing Window Opens for Two AYs

The Income Tax Department has announced that for two Assessment Years (AYs), the filing window for updated income tax returns (ITR-U) in Forms ITR-3 and ITR-4 is open. An updated return (ITR-U)...

ITR Filing 2025: ICAI releases Checklist for Preparation of ITR-1 and ITR-4 [Read Checklist]

The Institute of Chartered Accountants of India ( ICAI ), through its Direct Taxes Committee, has released a comprehensive Checklist for Preparation of Income Tax Return ( ITR ) Form 1 and 4 for...

Delay in Filing Service Tax Appeal Due to Tax Officer’s Failure to Reissue Login Credentials in Time: CESTAT Condones 26-Day Delay [Read Order]

The Chandigarh Bench of the Customs, Excise, and Service Tax Appellate Tribunal (CESTAT) ruled that the dismissal of an appeal as time-barred was not justified when the delay was caused by the tax ...

Unfinalised Income Tax Reassessment not a Ground to Deny DTVSV Scheme Benefits: Kerala HC [Read Order]

The Kerala High Court has held that the mere initiation of reassessment proceedings, which remain unfinalized, cannot be a ground to deny an assessee the benefits available under the Direct Tax...

Holding Foreign Investments or Bank Accounts? Must Know Income Tax Compliance for NRI Students

If you are an Indian student studying abroad, you might be dealing with money matters like opening a bank account in your new country or investing some savings in stocks or funds there. As a...

Income Tax Dept Releases Updated Excel-Based Utility for ITR-5 Filing

The Income Tax Department has released the first version of the Utility Excel-Based tool for ITR-5, designed for entities other than individuals, Hindu Undivided Families (HUFs), companies, and...

Digital Marketing Business Carried Out via Computers cannot be Treated as Profession, is a 'Business': Madras HC Restores Audit Exemption u/s 44AB(a) [Read Order]

The court clearly clarified that digital marketing is the business for persons who carry out the said activities.Merely because digital marketing carried on the business through computers, it cannot...