CBDT removes arrest-related provisions under Rule 225; valuers face tighter disclosure norms as registration deadline extendedIncome tax recovery no longer includes arrest or prison detention. Other recovery methods like property attachment remain available to auth...
19 Sep, 2026, 09.49 AM IST
8 changes in income tax audit forms for AY 2026-2027; what taxpayers need to knowFor the assessment year 2026-2027, the deadline for income tax audits is set for September 30, 2026. Businesses utilizing presumptive taxat...
19 Sep, 2026, 07.00 AM IST
India's net direct-tax collections rise 13% to Rs 12.10 lakh crore on strong advance-tax growthIndia's net direct-tax collections saw a nearly thirteen percent rise. Advance tax payments grew over sixteen percent, boosting overall col...
19 Sep, 2026, 12.28 AM IST
Tax Audit Report deadline: Who needs to upload it by September 30, 2026The deadline for uploading tax audit reports is set for September 30, 2026, specifically targeting certain taxpayers. Chartered accountants...
18 Sep, 2026, 03.26 PM IST
Rs 1 crore foreign asset limit under FAST-DS 2026: What taxpayers must know about undisclosed incomeFAST-DS 2026 prescribes detailed rules for valuing foreign assets, but how should undisclosed foreign income be computed for the ₹1-crore l...
18 Sep, 2026, 02.41 PM IST
Five breaches by AI agents over the past yearAs the rush to deploy newer AI agents races ahead of itself, due diligence is diluted and oversight slackens, resulting in an increased num...
18 Sep, 2026, 09.49 AM IST
Advance tax deadline of September 15, 2026: What will be the consequences if you miss the due date?The second advance tax instalment deadline is September 15, 2026. Failure to pay by this date incurs penal interest charges. Advance tax is...
17 Sep, 2026, 05.08 PM IST
ITR filed under old tax regime by mistake, income tax paid under new regime: How a lady won case in ITAT DelhiFiled ITR under the old tax regime but paid income tax under the new tax regime; ladywins case in ITAT Delhi after proving her accountant m...
17 Sep, 2026, 10.18 AM IST
Supreme Court to hear Centre's plea on I-T reassessment orderThe Supreme Court is preparing to address a crucial appeal from the government on Friday, challenging a recent High Court order from Punjab...
17 Sep, 2026, 01.04 AM IST
Taxman's JAARing move opens fresh debate over Mauritius treatyThe recent invocation of JAAR, a GAAR-type tool in the armoury of the taxman, in a certain case has stunned many. Even though technically t...
17 Sep, 2026, 12.09 AM IST
No more tax wishlists? FM Sitharaman asks experts to make the case for what should goFinance Minister Nirmala Sitharaman urged tax professionals and industry bodies to move beyond demands for exemptions and rate cuts, asking...
16 Sep, 2026, 01.03 PM IST
Customs should accelerate AI usage to reduce cost, physical interface with trusted taxpayers: CBIC chiefIn a progressive move, the Customs department plans to ramp up its deployment of artificial intelligence and real-time analytics to limit d...
16 Sep, 2026, 11.57 AM IST
Kash Patel to face Senate heat over travel, 2020 election probeFBI Director Kash Patel will appear before the Senate Judiciary Committee on Tuesday. Democrats will question his leadership and use of tax...
15 Sep, 2026, 04.26 PM IST
NRI woman declared Rs 43,796 income in ITR but didn’t report Rs 14 lakh interest; faced 200% penalty – how she got it reduced to 50% in ITATThe NRI woman's advocate explained that she is a 57-year-old lady with limited technological knowledge and had entrusted an accountant with...
15 Sep, 2026, 02.51 PM IST
IRS officials may visit taxpayers in Los Angeles, Miami, Dallas, New York and Chicago: Why it happens, what to expect and how to avoid scamsIRS Revenue Officers might conduct in-person visits to taxpayers who have unresolved tax debts or unfiled returns. Such visits are rare and...
14 Sep, 2026, 08.18 PM IST
Rs 34 lakh F&O trading loss: Income Tax dept calls it speculative, ITAT Delhi treats Rs 25 lakh as business lossTaxpayer lost Rs 34 lakh in F&O trading but reports it as business loss; Income Tax dept treats it as speculative loss; ITAT Delhi treats R...
09 Sep, 2026, 12.47 PM IST
Tax reforms drive 1.32 crore updated returns, Rs 16,083 crore additional tax: CBDT memberUpdated income tax returns have increased significantly over four years. New tax regime adoption shows strong uptake among taxpayers filing...
07 Sep, 2026, 06.53 PM IST