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INCOME TAX AHMEDABAD
Riyaasat Lifestyle IPO opens for subscription today. Check GMP, price band and other detailsThe grey market premium (GMP) for the issue stood at zero ahead of the opening, indicating that unofficial market activity is pricing the s...- Income tax alert: These taxpayers could receive scrutiny notices by June 30, 2026 under Section 143(2)The CBDT has set June 30, 2026, as the deadline for issuing scrutiny notices under Section 143(2) for FY 2025-26 returns. An internal deadl...
- The next big money game is here. Everyone wants a seat at the tableIndia's wealth management scene is experiencing a remarkable transformation. With the rapid rise of affluent households, there’s a surge in...
- Income Tax Department issues ITR scrutiny guidelines: These ITR filers may face compulsory scrutiny in FY 26-27The CBDT has released new guidelines for compulsory income tax return scrutiny in FY 2026-27, impacting returns filed in FY 2025-26. Specif...
- Startup investing in India: Why angel investing is high-risk, illiquid, and suitable only for patient investors with diversified portfoliosIndian startup investing, once fueled by easy money, now demands caution due to market volatility and inherent risks. While success stories...
- Wife’s MBA degree or past employment with MNCs can’t stop her from demanding maintenance, rules HCAn Allahabad High Court ruling states a wife's education or earning potential does not disqualify her from maintenance. The court considere...
- Man pays zero tax on Rs 5 crore land sales despite filing ITR after deadline; ITAT Mumbai rules in his favour for this reasonA Mumbai man successfully claimed a tax exemption on Rs 5 crore land sales despite filing his ITR after the deadline. The ITAT Mumbai ruled...
- Salary hike this appraisal season? New labour codes and tax rules may change your real take-home payAppraisal season this year saw companies begin aligning salary structures with new labour codes and updated income tax rules. While some fi...
- Tax-free allowances rise, so do employer costs: The salary structuring dilemma under the Social Security CodeEnhanced tax-free allowances under the Income-Tax Rules, 2026 can improve employees’ take-home pay. However, the expanded definition of “wa...
- Old vs new tax regime: Key differences that you must know before ITR filing for tax year 2026-27The new tax regime offers lower rates but removes many deductions, making a thorough comparison with the old regime crucial. While both reg...
- Tax shadow over charitable trusts with 'profit' motiveThree top-notch hospitals in Mumbai and a famous international spiritual organisation-all functioning as charitable trusts-have been denied...
- Buying agricultural land near a city? Key income tax rules you must knowAn ITAT ruling clarified that stamp duty valuation doesn't define agricultural land status for income tax. The tribunal emphasized that off...
- Sold two farm lands for Rs 8.75 crore capital gains but paid no tax or filed ITR; ITAT Ahmedabad rules in favour of taxpayerA man from Bharuch, Gujarat had sold two agricultural lands for Rs 8.75 crore capital gains to a company who subsequently used the lands fo...
- Tax dept deducted Rs 10 lakh from guy’s bank a/c on suspicion of income concealment; he fights back and wins case in ITAT AhmedabadA Gujarati businessman successfully challenged the Income Tax department's action. The department had debited Rs 10 lakh from his bank acco...
- Taxpayer fights and gets big relief against Rs 2.28 crore income tax notice; ITAT Ahmedabad reduced it to only Rs 63,000A person faced a Rs 2.28 crore tax notice for unexplained income. After filing an ITR declaring Rs 3.83 lakh, the tax department added the ...
- Father receives Rs 4 lakh as cash gift in son’s marriage and wins income tax case of unexplained income; ITAT Ahmedabad ruling explainedManubhai faced tax issues over cash gifts received before his son's wedding. The tax department alleged undisclosed income. Manubhai contes...
- IT department detects Rs 500-crore unaccounted transactions after raids on Gujarat realty groupCBDT said about Rs 1 crore cash and jewellery worth Rs 98 lakh was seized during the operation. Twenty-four lockers have been put under res...
- Slum millionaires send taxmen on a wild goose chaseThe Gujarat Income Tax Department had sent out about 5,000 notices in Ahmedabad to those who made large cash deposits in banks during demon...
- IDS: I-T searches on Hyderabad businessman after tax defaultIDS was announced in the Budget under which declaration of undisclosed income or assets could be made by agreeing to pay 45 per cent as tax...
- Gujarati businessman Mahesh Shah yet to reveal names of people for whom he actedIncome Tax Ahmedabad, Director (investigations), P C Mody, said, "He (Shah) was asked about whose money had he declared but he has not reve...
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