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Calcutta HC allows Physical Filing of Forms 1 & 2 within Time, Permits Availing DTVsV Scheme, 2024; Condones Dept’s Delay [Read Order]

The Calcutta High Court has permitted the assessee to take benefit of the Direct Tax Vivad Se Vishwas Scheme, 2024 by allowing the physical...

Glitch in ITR-3 Filing over LTCG Rates raises Validation Errors, Income Tax Dept Responds

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

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

Vedanta Limited has announced that its subsidiary Bharat Aluminium Company Limited (BALCO) has received an income tax penalty order amounting to 1.03 crore rupees. The penalty has been imposed by...

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

ITR-V is the one-page verification that proves you have confirmed your ITR. Rejection of ITR-V does not mean the contents of your tax return were rejected. It means your verification was not...

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...

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