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ACCOUNTING PROVISION
Didn’t report FD interest in your ITR? Here’s how you can still correct the mistakeMissed reporting your Fixed Deposit interest in your Income Tax Return? Don't worry, you can still fix it. The Income Tax Department receiv...- Husband has to pay income tax on wife’s earnings from FD, gold, shares under clubbing of income in these casesITR filing: Transferring investments to your spouse to save taxes is a common misconception. The Income Tax Department scrutinises fund sou...
- Bank fraud cases: CBI flags issue of pending sanctions to probe bank officials in corruption casesThe CBI has highlighted significant delays in obtaining sanctions to probe and prosecute bank officials for corruption and fraud. This hurd...
- India's battery makers say new recycling rules may pull the plug on their businessIndia's dry cell battery giants, including Eveready and Panasonic, are warning of potential shutdowns due to new government recycling rules...
- Rubio in Middle East tour says any Iran deal will ensure security of Gulf alliesU.S. Secretary of State Marco Rubio assured Gulf Arab allies that any deal with Iran would prioritize their security interests. Concluding ...
- Over 5,100 forest fires affected 11,580 hectares in Maharashtra in 2023-24: Minister NaikMaharashtra witnessed over 5,100 forest fires in 2023-24, impacting nearly 11,600 hectares. Gadchiroli alone reported over 7,000 incidents....
- Income tax dept identifies up to 20,000 cases of individuals who used the ‘swapped provisions’ trick to reduce net tax liability; Know what to do now to fix thisThe Income Tax Department has flagged 15,000-20,000 cases of individuals using a 'swapped provisions' trick to unfairly reduce their tax li...
- Will the ITR filing deadline for AY 2026-27 be extended? Here's what taxpayers need to knowTaxpayers can breathe easy as the Income Tax Return (ITR) filing deadline for AY 2026-27 is unlikely to be extended. Unlike last year's tec...
- Regulating charity without stifling it: The case for clearer rulesIndia's charity sector, vital for social needs, faces evolving regulations aimed at transparency. While scrutiny is accepted, current rules...
- MHA notifies FCRA rules defining religious activities, tightens complianceNew rules from the Home Ministry now define what qualifies as religious activity for foreign-funded organizations in India. The updated fra...
- Have a US 401(k)? Indians must report withdrawals and maturity details in ITR schedules FSI and FAIndian taxpayers with US 401(k) accounts must now report withdrawals and maturity details in ITR schedules FSI and FA. Failure to disclose ...
- Tax reforms to play vital role in attracting global capital to India: ExpertsIndia's economic ascent hinges on predictable and simplified tax reforms to attract global capital, according to a senior financial expert....
- Nearly 30% of pedestrian deaths occur on national highways, not just city roadsShocking data reveals nearly 30% of over 1.8 lakh pedestrian deaths between 2019-2024 occurred on national highways, not just busy cities. ...
- Husband trades through wife’s demat account, incurs Rs 1.95 crore loss; tax dept sends notice over clubbing of income, ITAT Lucknow grants him reliefA husband's attempt to offset substantial stock market losses against his income was initially rejected by tax authorities. Despite trading...
- When a small footnote is used as a tool to make a weak balance sheet look strongThis is the uncomfortable truth about company accounts. A number on a balance sheet is not always cash that will return, and a liability tu...
- NCW issues advisory to States, calls for mandatory POSH audits and robust workplace safety mechanisms nationwideThe National Commission for Women has urged all states and Union Territories to strictly enforce the POSH Act, ensuring women's safety and ...
- Meta lobbies Congress for protection from child-harm lawsuitsIf adopted by lawmakers and passed into law as part of the Kids Online Safety Act (KOSA) under consideration in the U.S. Senate, such a pro...
- Six Uddhav Sena MPs jump ship to sail to NDA shores, party seeks actionSix Shiv Sena UBT Lok Sabha members have moved towards the NDA. They did not attend a party meeting called by parliamentary leadership. The...
- ITR filing due dates for AY 2026-27: July 31 is not the deadline for every taxpayer; check 5 other tax filing due datesThe Income Tax Department has set July 31, 2026, as the deadline for most individual taxpayers, including the salaried class, to file their...
- Sebi drops proceedings against Prime Focus in misleading financials caseSebi has closed adjudication proceedings against Prime Focus and its directors, ruling that the company correctly accounted for business tr...
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