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INCOME DEPARTMENT
Taxman to track slipping sectors & top tax payersThe communication, dated June 16, a copy of which was seen by ET, also mandated each zone to submit a report to the Directorate of Tax Rese...- KSIIDC pays Rs 143 crore dividend to Karnataka govt; FY25 profit at Rs 188 crore: MB PatilKarnataka State Industrial and Infrastructure Development Corporation (KSIIDC) has presented a dividend exceeding Rs 143 crore to the state...
- 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...
- Kolkata woman made Rs 26 crore profit in stocks and paid zero tax: Here's how she did it legallyA Kolkata businesswoman, Saroj Goenka, legally saved ₹26 crore in taxes by reinvesting long-term capital gains from share sales into constr...
- ITR filing AY 2026-27: 8 costly mistakes taxpayers should avoid this tax return filing seasonThe I-T Department’s growing scrutiny, using AI and data analytics tools, leaves little room for omissions and errors, making accurate tax ...
- What is DTAA? How to avoid double taxation on foreign income and claim tax credit in IndiaIf you are confused by personal finance terms, jargon and calculations, here’s a series to simplify and deconstruct these for you. In the 1...
- ITR filing for FY 2025-26: Key changes in due dates, ITR forms, and F&O disclosure rules taxpayers must knowThe deadline for filing income tax returns for FY2025-26 has arrived, with new rules and forms in effect. Notably, ITR 3 and ITR 4 filings ...
- ED probes auditors, vendors for colluding with CMRL MD in Kerala money laundering caseThe Enforcement Directorate is investigating Cochin Minerals and Rutile Limited (CMRL) for alleged money laundering, focusing on payments t...
- Tenant wins tax relief on Rs 38.62 lakh sale of landlord’s property, received for surrendering tenancy rights; know why ITAT Mumbai ruled in his favourA Mumbai tenant received tax relief after selling a property he obtained for surrendering his tenancy rights. The Income Tax Appellate Trib...
- Delhi HC rules EY US secondment fees taxable in India, MNCs face higher costs for foreign talentMultinational corporations in India face a new tax challenge following a High Court ruling against EY US. The court determined that payment...
- Has Form 168 replaced Form 26AS for FY 25-26? Here's what taxpayers need to know for ITR filingForm 168: The Income Tax Department has unveiled Form 168, a comprehensive upgrade to the Annual Information Statement, effectively superse...
- ITR-3 release date: Who should file this income tax return form as I-T Department enables online filing, Excel utilities for itThe Income Tax Department has launched online filing and Excel utility for Income Tax Return-3 for Assessment Year 2026-27. This form is fo...
- Retired employee claims tax exemption on Rs 19 lakh leave encashment; I-T dept issues notice and caps it at Rs 3 lakh; ITAT Chennai grants him full reliefWhen Mr Balasubramanian Venkatachalaperumal from Jagadamal Street retired from ONGC in FY 2019-20, he got Rs 19.05 lakh as leave encashment...
- Income Tax department labels her stock market trader, denies investor status; she fights and wins Rs 54 crore capital loss claim at ITATDolly Khanna successfully challenged the tax department's classification of her Rs 54 crore short-term capital loss as a business loss. The...
- TDS Challan correction for Income Tax Act, 2025 needs to be done using the old TRACES portal; Here’s how to do itTaxpayers must correct TDS challans for Tax Year 2026-27 on the old TRACES portal. This is crucial if the challan was mistakenly filed unde...
- 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...
- Income tax scrutiny: Who could receive a tax notice by June 30 and what to do if you've made a mistake
- 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...
- What crypto investors need to know for tax season 2026India's tax season now demands greater scrutiny for crypto investors as enforcement intensifies. New reporting requirements, including tran...
- ITR scrutiny alert: Income Tax Department identifies 6 categories of returns for mandatory scrutiny in FY 2026-27
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