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ITR filing season AY 2026-27: Received Section 143(2) notice for AY 2025-26? What it means and how to respondAs Section 143(2) scrutiny notices for AY 2025-26 reach taxpayers during the ITR filing season for AY 2026-27, this article explains why ta...- Life lesson of the day by Warren Buffett: "The difference between successful people and really successful people is that really successful people say..." - The powerful business lesson from the Oracle of Omaha about protecting your time, focus, and long-term successSuccess is often measured by how many opportunities we seize, but one of history's greatest investors believed the opposite. Today's life l...
- Trump administration drops $1.8 billion 'weaponization' fund after Republican backlashThe Trump administration has dropped its $1.8 billion fund meant to compensate victims of government abuse. This decision followed strong o...
- Donald Trump immunity from IRS audit shocks experts, who warn it could undermine trust in tax systemDonald Trump's tax probes have ended. The Internal Revenue Service agreed to drop all pending investigations into the former president's ta...
- Top cases on the United States Supreme Court's docketThe U.S. Supreme Court is reviewing significant cases. These cases cover voting rights, presidential authority, immigration policies, and g...
- Self-reporting of unexplained income in ITR to save 50%: A permanent Voluntary Disclosure of Income Scheme (VDIS) in Budget 2026?Budget 2026 reshapes taxation of unexplained income. Self-reporting undisclosed income now attracts a 30% tax rate. This is a significant r...
- Got income tax notice or facing income tax scrutiny? Budget 2026 offers relief through revised, updated ITR, and immunity from prosecutionWith data analytics tightening the tax net, salaried taxpayers are increasingly facing income tax notices over small mismatches flagged thr...
- 14 personal finance highlights impacting middle-class taxpayers in FY26-27 from Budget 2026Budget 2026 introduces significant relief for salaried and middle-class taxpayers, including a new simplified Income Tax Act and automated ...
- Pay reduced tax at 39% rate on unexplained income compared to 78% earlier, with close eye on penalty, Budget 2026 announcement?Budget 2026 brings a major tax relief for unexplained income. The tax rate has been slashed to 39 percent from the earlier 78 percent. This...
- Reduced TCS, extended ITR deadline, simplified TDS on property, centralised Form 15G/H, immunity from tax prosecution and more in Budget 2026Budget 2026 brings major changes to personal income tax. Tax Collected at Source rates are reduced. Deadlines for filing income tax returns...
- One time undisclosed foreign income disclosure scheme announced in Budget 2026 for these taxpayersA new scheme will allow small taxpayers to declare undeclared foreign assets. This one-time offer covers income or assets up to one crore r...
- Budget 2026 announced no interest liability on the taxpayer, on the tax penalty amount for appeal before CIT (A)Prepayment quantum is reduced to 10% on core tax demand to curb litigation. Taxpayers can now update returns even after reassessment begins...
- Good news: Immunity from penalty or prosecution in income tax under-reporting cases has been expanded in these cases: Budget 2026 announcementSection 440 of the new Income Tax Act, 2025, is being amended to extend immunity from penalties and prosecution to cases involving income m...
- Income Tax Department finds Rs 5 crore cash in his house; Know how a 2008 circular saved him from prosecutionThe Supreme Court overturned Krishnaswami's tax evasion prosecution, citing the Income Tax Department's violation of its own circulars. The...
- Relief for Kotak Mahindra Bank; SC upholds immunity from penalty, prosecution for non-disclosure of lease rental incomeSetting aside the Karnataka High Court order that remanded the matter back to the commission to decide on the immunity from penalty and pro...
- These are the only 4 tax options if you hold black moneyThis analysis will help you understand under which option immunity from other laws would be available and where it would not be.
- I-T department will not ask for source of bank deposits: Revenue Secretary Hasmukh Adhia"The deterrent provisions were necessary so that people have the fear of hoarding black money," Adhia said.
- Scared of tax penalties and imprisonment on black money? This may help you get immunityHowever, the final decision on whether to grant immunity or not rests with the concerned tax authority where you have appealed for the same.
- No government immunity for those paying tax from undeclared incomeA four-month window has been provided to persons holding undeclared income to come clean by paying a tax of 30% and interest and penalty of...
- Hotel Rajdoot director to face trial for tax evasionThe sole surviving director of Hotel Rajdoot has been ordered by a city court to be put on trial for not depositing income tax for five con...
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