The Income Tax Department has modified the challan form for depositing equalization levy by non-resident e-commerce companies, to include the option of paying up the new 2% levy on digital transactions conducted in India by...
The Bombay High Court while granting a major reprieve for Vodafone Idea Limited on Friday directed the income tax department to refund Rs. 833 crore to the telecom major in two weeks. The telecom major,...
The Chennai bench of the Income Tax Appellate Tribunal (ITAT) has recently allowed the income tax department to re-do the assessment proceedings against Karwan-actor Dulquer Salmann. An income tax search was conducted on the residential...
In line with the announcement made in the Union Budget, Union Minister for Finance & Corporate Affairs Smt. Nirmala Sitharaman formally launched the facility for instant allotment of PAN (on near to real-time basis) here...
The High Court of Madras directed the Registry to place this matter before the Hon’ble Chief Justice for considering the issues for resolution by a larger bench. Meanwhile, the insurance company was directed to deposit...
The High Court of Delhi directed the Income Tax Department to consider the representation by the debtor whose pension account was attached by the Income Tax Department. The petitioner, Lalita Aggarwal seeks a direction to...
The Income Tax Department on Monday deferred for the third time the requirement for companies to include in their Income Tax audit report the details of the Goods and Services Tax (GST) and the General...
The Central Board of Direct Taxes (CBDT) responding to some observations being circulated on social media alleging that the Income Tax Department is pursuing recovery proceedings and using arm-twisting methods by adjusting the outstanding demands...
The Income Tax Department has designated Income Tax Authority before whom particulars of the parent entity and alternate reporting entity to file Country-by-Country Report would be notified. In order to ensure that a multinational enterprise...
In a major breakthrough in TDS Surveys conducted by the Tax Deducted at Source (TDS) wing of the Income Tax Department has unearthed default of TDS of Rs 324 crore in the case of a...
On 27.02.2020, Income Tax Department conducted a search on a group of individuals, hawala dealers, and businessmen in Raipur. The search action was mounted on the basis of credible inputs, intelligence and evidence of the...
The Income Tax Department conducted a Search in the case of a prominent business group based in Chennai dealing in the business of nonferrous metal processing in lead, copper and aluminium and Money Lending activities....
The Special Judge, CBI bribery Cases, Chandigarh has sentenced Shri Rakesh Jain, then Income Tax Officer, Ward No. 3(2), Chandigarh to undergo four years Rigorous Imprisonment with fine of Rs. 5 lakh in a bribery...
The Madras High Court has applauded the Government for introducing Faceless E-assessment facilities while also cautioning the authorities that not all amounts received by a company during the demonetization period which is huge and explained...
The Bangalore bench of the Income Tax Appellate Tribunal (ITAT), on Monday granted an extension of stay period to IT giants Google India citing a reason for the delay in non-disposal of appeal. The two-judge...
The Delhi bench of the Income Tax Appellate Tribunal (ITAT) has held that depreciation under section 32 of the Income Tax Act, 1961 is allowable in respect of the amount paid as a license fee...
In a significant ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal (ITAT) has imposed a penalty of Rs. 5000 on an assessee on the grounds of a delay of 358 days in filing...
The Madras High Court has quashed an order by the Income-tax department where it has demanded tax on trade discounts received by dealers in the sale of Motor Car. The petitioner Kun Motor Company Pvt....
The Income Tax Departments carried out Search and Seizure action on 6th February 2020 at Hyderabad, Vijaywada, Cuddapah, Vishakhapatnam, Delhi, and Pune. More than 40 premises were covered. The search action included three prominent infrastructure...
The Bombay High Court has reiterated that the security exchange is entitled to exercise its right of lien on security deposits. The Writ Petition was filed by the Stock Exchange Bombay, now called as Bombay...
The Income-Tax Department has launched an e-calculator for individuals to estimate their tax liability. It can be utilized by taxpayers who opt for the new tax slabs, as announced in the recent Budget, without claiming...
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