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INCOME TAX REVENUE RISE
Parliamentary panel flags compliance glitches on new income tax act, seeks more data from CBDTA parliamentary committee has identified compliance issues with the new Income Tax Act. They are seeking detailed data from the CBDT on its...- Made ₹2 lakh from F&O? Know how options trading profit is taxed before filing ITR
- Trump’s second-term policies put US finances under growing strain as debt tops $40 trillionDuring President Trump's presidency, the national debt of the U.S. has ballooned to over forty trillion dollars. Federal expenditures are o...
- Healthy consumption: GST collections surge to Rs 2 lakh crore, car sales jump 36%India's economic indicators showed resilience and growth in August. Goods and services tax collections rose 14.8 percent to ₹2 lakh crore. ...
- Direct Tax Reforms: Parliamentary panel to meet tomorrow to discuss simplifying taxesA parliamentary committee will meet on September 3 to discuss direct tax reforms. The meeting will focus on simplification, rationalization...
- Fiscal deficit target for FY27 achievable, but slower nominal GDP growth may pressure fiscal space: ReportIndia's fiscal position remains comfortable in early FY27 months. Slower nominal GDP growth could pressure the fiscal deficit target. Gover...
- Rs 41 lakh cash deposit but no ITR: Bengaluru man claimed his wife and father paid his expenses; ITAT Bangalore refuses relief on this groundWaseem Ahmed, accountant member and Keshav Dubey, judicial member of ITAT Bangalore, in a recent judgement refused to condone a delay of ab...
- GST, auto sales, UPI data point to resilient growth in AugustIn August, India's GST collections rose by 14.8%, totaling ₹2 lakh crore. The surge in bulk car sales by 36% indicates robust consumer enth...
- Income Tax searches Dentsu Media Group offices in Mumbai, Delhi, Chennai, Bengaluru over suspected evasionA wave of Income Tax searches is currently sweeping through Dentsu Media Group offices in multiple cities amid a suspected tax evasion inqu...
- India's gross GST revenue up 14.8% on year to nearly Rs 2 lakh crore in AugustIndia’s gross GST revenue rose 14.8% year-on-year to Rs 1.99 lakh crore in August 2026, up from Rs 1.74 lakh crore a year earlier. However,...
- Record 7.8 crore ITRs filed for AY26-27 as August 31 deadline endsOver 7.8 crore Income Tax Returns were filed for AY 2026-27 by August 31. This marked the close of the revised statutory deadline for non-a...
- India's fiscal deficit for April-July at Rs 4.55 lakh crore, narrows to 26.8% of FY27 aimIndia's fiscal deficit reached 4.55 lakh crore rupees through July. This figure represents 26.8% of the annual budget estimates for this ye...
- Filing ITR-3 for AY 2026-2027? Here’s 7 aspects to look out for before filing itThe deadline to submit ITR-3 forms for non tax audit business income is set for August 31, 2026. For those requiring a tax audit, the submi...
- Rs 16 lakh cash seized in income tax raid, tax officer calls it unexplained cash; Taxpayer claims it to be family money, he fights and wins the case in ITAT MumbaiDuring an income tax search operation (raid) Rs 16 lakh cash was seized; Man says its family cash; tax officer does not believe him and cal...
- Centre appoints key officials in NTA amid NEET paper leak rowNew officials have been appointed to key National Testing Agency posts. This move follows significant concerns over the NEET exam paper lea...
- ITAT rejects tax department’s FTS, royalty claims on Spencer Stuart’s executive search feesThe income-tax tribunal ruled in favor of Spencer Stuart International BV. Executive search fees were not treated as technical services und...
- Tax notice in a deceased person's name? Don't ignore it; here's what legal heirs should doDid someone close to you leave behind unresolved tax responsibilities? Explore how heirs can address income tax notices, file overdue retur...
- Income tax notices: 8 notices salaried employees could get after filing ITR and what to do next
- Rs 5.31 lakh income tax refund denied as taxpayer did not claim it in the original ITR; he approaches ITAT Delhi and wins the case to get tax refund with interestRs 5.31 lakh tax refund denied as it was not claimed in the original ITR but in the subsequently filed Section 148 ITR; ITAT Delhi orders t...
- Income tax notice: 8 common notices, why you get them and how to respond
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