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INCOME TAX OFFENCES
SC order turns up tax heat on old benami transactionsThe Supreme Court has ruled that tax authorities can retroactively apply the benami law to confiscate assets from transactions predating 20...
Mythos: A challenge for the Indian banking systemClaude Mythos, a cutting-edge AI tool, has unearthed significant weaknesses in cybersecurity systems. In response, Indian authorities are s...
ED probes alleged ESOP misuse to launder money, bypass LRS rulesThe Enforcement Directorate is now looking into employee stock options from foreign firms given to Indian workers. This move aims to uncove...
NITI Aayog bats for reforms in I-T Act with focus on decriminalisationNITI Aayog proposes significant reforms to the Income Tax Act, 2025, including decriminalizing 12 minor offenses and reducing mandatory min...
Income tax offences: To avoid jail term when can you use income tax compounding provisions; CBDT issues new FAQIncome tax: The Central board of Direct Taxes (CBDT) has released new FAQs on compounding of offences. Under these provisions if you have a...
CBDT makes all Income Tax offences compoundable, eases rules for defaultersThe central board of direct taxes (CBDT) has made all offences under the income-tax law compoundable if the applicant is not involved in an...
End of arbitrary arrest by income tax officers? New Income Tax Bill 2025 proposes to decriminalise Section 276CCCIncome Tax Bill, 2025: The new tax Bill has proposed to decriminalise Section 276CCC of the Income Tax Act, 1961. This Section (276CCC) is ...
Relief against income tax offences: New compounding guidelines issued by CBDT to help taxpayers in preventing prosecutionIncome tax offences: Now you will have to follow the revised guidelines for compounding of income tax offences under the Income Tax Act, 19...
Income tax department issues revised guidelines for compounding of offencesOn Thursday, the income tax department announced revised guidelines for compounding offences under the I-T law, simplifying the process and...
Income Tax department relaxes norms for compounding of offenceIssuing the revised guidelines for Compounding of offences under the Income-tax Act, 1961, the Central Board of Direct Taxes (CBDT) said: "...
CBDT extends till Jan 31 deadline for compounding of I-T offencesThe CBDT, while launching the scheme in September last year, had said that this "one-time measure" is being undertaken to mitigate unintend...
CBDT launches one-time facility for compounding of income tax offencesA one-time facility to apply for compounding of income tax offences has been launched and taxpayers can avail this opportunity by December ...
Types of income tax notices and penalties for various offencesHere is what the notices under different sections mean.
Delhi polls: Bluster on donations will not help, says FM Arun Jaitley"We have put in our entire energy and the party machinery is fully active. We hope to do extremely well and are confident of forming a gove...
Non-payment of income tax may soon become prosecutable under Prevention of Money Laundering ActUnder laws currently in place, neglecting to pay income tax is a compoundable offence, that is, offenders can end proceedings by paying a p...
- Money-laundering law: Rigorous jail, hefty fines await tax offenders
India could bring income-tax offences under its anti-money laundering law, rigorous imprisonment, fines and shifting onus on the accused.
- 'Tax offences can be criminal only in cases of illegal income'
Amid reports that the govt is planning to make tax evasion a crime, a finmin exec said it could be done only if source of income is illegal.