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IMPOSITION OF TAX ACT
SC gives govt two weeks to file list of black money cases pending in HCsThe Supreme Court granted the government two weeks to list cases. These cases challenge provisions of the Black Money Act, including Anil A...- Foreign income disclosed in ITR-U: Why it could still trigger Black Money Act - FAST-DS 2026 ParadoxFAST-DS 2026 raises an important question for taxpayers who have voluntarily disclosed foreign income through a valid ITR-U. Can such incom...
- Stocks in news: TCS, ICICI Bank, Hindustan Copper and Piramal FinanceThe Indian equity markets experienced a downturn today, with the Nifty50 index finishing slightly above 24,200. Traders brace for heightene...
- Delhi HC raps I-T dept over Rs 53 crore Vodafone Idea refund delayThe Delhi High Court has ordered the income tax department to refund Vodafone Idea ₹53.09 crore. This refund is for assessment years 2003-0...
- Plant 500 trees and explain Rs 11.22 crore additional income: A rare direction from ITAT Chandigarh asks taxpayer with Rs 1.79 lakh income shown in ITRThis Haryana man's case was picked up for scrutiny, and during the proceedings the Assessing Officer found large cash deposits, unsecured l...
- Foreign Asset Disclosure Scheme 2026: From budget proposal to rollout - what residents and NRIs need to knowThe Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 has moved from Budget proposal to implementation. This article explains its t...
- Lower house passes amendments curbing states power to tax mineralsLok Sabha passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2026, curbing states' powers to impose taxes and cess ...
- Lok Sabha passes bill to amend mines and minerals law without debateThe Lok Sabha passed a bill to amend mining regulations. This legislation prevents states from imposing additional taxes on mineral rights....
- Govt introduces bill in LS to restrict state taxes on mineral rightsThe Centre has launched a new bill to limit state taxation on mineral rights, aiming to centralize authority over selected mineral-rich are...
- India extends anti-dumping duty on select chemicals, metal goods; imposes on oneIndia has extended anti-dumping duties on four products, including chemicals and steel goods. New duties were imposed on metallurgical coke...
- Rs 17.41 lakh penalty for ITR filing mistake: CA firm's owner's affidavit helps taxpayer get relief in ITAT Mumbai; know howRs 17.41 lakh penalty imposed due to error in ITR filed by junior staff in CA firm; Here's how affidavit from the CA firm's owner helps tax...
- Housing society asks homebuyer to pay previous owner's maintenance dues of Rs 80,000; experts explain what you should do in this situationHomebuyer asked to pay previous owner's dues of Rs 80,000: In his Reddit post, a homebuyer shared that the previous owner had around Rs 80,...
- ESOPs, Crypto and two other disclosures you must make in Schedule FA of the ITR for AY 2026-2027Indian taxpayers face new foreign asset reporting rules for AY 2026-2027. Schedule FA requires disclosures for foreign shares and overseas ...
- ITR 2026: Common income tax return filing mistakes that cost employees lakhsA careful, timely, and well-documented filing approach can help employees avoid notices, interest, penalties, and refund delays while ensur...
- Foreign assets in AIS: CBDT sets the stage for Foreign Assets of Small Taxpayers Disclosure SchemeThe CBDT’s decision to upload foreign financial information into taxpayers’ annual information statements may be more than an administrativ...
- ITR 2026: Increased disclosure requirements for overseas investments and foreign assets—are Indian taxpayers ready?Indian taxpayers face new disclosure rules for foreign assets and investments. Global information exchange frameworks necessitate accurate ...
- India must finish the capital account reforms begun in 1991India's capital controls have transformed from restrictive permissions to more refined regulations. As the nation pursues its economic aspi...
- ITR filing 2026: NRIs need to file Schedule FA in ITR to declare foreign asset for AY 2026-2027 in this caseResident and ordinarily resident individuals must report foreign assets. This disclosure is required in Schedule FA of the income tax retur...
- Govt's net tax collection rises 86% to Rs 5.57 lakh crore in Q1"The net direct tax collection in the 1st quarter of FY 2021-2022 is Rs 2,46,519.82 crore as against Rs 1,17,783.87 crore during the same p...
- Government notifies rules for asset valuation under black money lawGovernment has notified the rules for calculating overseas income and assets under the stringent foreign black money law that came into for...
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