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Income Tax Department

Identity, Genuineness and Creditworthiness of Investors and Relatives for S. 68 Already Examined: ITAT Rejects Dept's Appeal [Read Order]

The Income Tax Appellate Tribunal (ITAT), New Delhi Bench, held that the identity, genuineness and creditworthiness of investors and relatives has...

Filing Taxes Made Easier! Income Tax Department Introduces Easy-To-Use Tax Calculators

PRARAMBH 2026: IT Dept rolls out awareness drive on New Income Tax Law

Maruti Suzuki Receives ₹5,786 Crore Draft Income Tax Order, Dept Proposes Disallowances and...

Direct Tax Collections Rise 7.2% to ₹22.8 Lakh Crore in FY26 So Far

Interconnect Service Charges do not constitute Royalty to Non-resident Telecom Operators: Supreme Court [Read Order]

The Supreme Court of India dismissed a SpecialLeave Petition (SLP) filed by the Income Tax Department and held, in concurrence with Karnataka High Court, that interconnect service charges do not ...

Received ‘Significant Transactions’ Emails under Advance Tax e-Campaign? CBDT Issues Clarification

The Income Tax Department has issued clarifications on concerns regarding the Advance Tax e-Campaign for Assessment Year 2026-27 (FY 2025 - 26) following widespread reports of taxpayers receiving...

Compounding Fee for Illegal Mining and Transportation Not Liable to TCS: Supreme Court Upholds HC Ruling [Read Order]

The Supreme Court recently dismissed a challenge raised by the Income Tax Department, and upheld a Chhattisgarh High Court ruling that compounding fees collected from persons involved in illegal...

Beware! Fraudulent ‘Income Tax Assessment Order’ Emails Are Circulating

A fraudulent email posing as an official “Income Tax Assessment Order” for Assessment Year 2025–26 is currently circulating online. It demands payment of a tax liability and directs recipients to...

Supreme Court to Decide Interest Liability for Delayed Payment to Income Tax Dept Counsel [Read Judgement]

The Supreme Court of India is set to examine the issue of whether interest must be paid for the delayed payment of professional fees to panel counsel representing the Income Tax Department. The ...

Income Tax Department Detects ₹408 Crore Sales Suppression in Nationwide Survey of 62 Restaurants across 46 Cities

The Income Tax Department has identified the suppression of sales worth nearly ₹408 crore through a nationwide verification drive of restaurants that have been suspected of suppressing their...

Meesho Receives ₹1,499.73 Crore Income Tax Demand Order, Plans to Appeal

Bengaluru-based e-commerce marketplace Meesho Limited (Formerly known as Meesho Private Limited and Fashnear Technologies Private Limited)has disclosed that it received an Assessment Order under...