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PENALTY FOR INACCURATE REPORTING
ITR filing 2026: 9 key checks every taxpayer must make for AY 2026–27India's income tax administration has become increasingly data-driven, with information from TDS/TCS reporting, SFT filings and other sourc...- Failed to report US stocks gained via ESOP? Use this one-time Amnesty scheme; Know how it worksA one-time amnesty scheme, the FAST-DS, has been introduced to help Indian residents and NRIs resolve past non-compliance with reporting fo...
- Millions of taxpayers hit with penalties for this one mistake the IRS says you are makingOver $160 million in penalties pushed the Internal Revenue Service to issue an urgent IRS hidden tax credits penalties warning for 2026. Mi...
- India to begin cross-border crypto data exchange from April 2027India will begin exchanging cryptocurrency transaction data internationally from April 1, 2027. This aligns with the OECD's Crypto-Asset Re...
- IRS misses the mark: Late W-2 and 1099 filings now trigger IRS penalties up to $680 per form — what January 31 deadline miss means todayIRS January 31 deadline passed: The Internal Revenue Service (IRS) began processing over 270 million information returns this week, but dat...
- Budget 2026 acts big on inaccurate reporting of crypto asset transactions; know what this means for youBudget 2026 introduces penalties for crypto exchanges failing to accurately report transactions. A Rs. 200 per day penalty will be levied f...
- Budget 2026: Crypto taxation unchanged, industry disappointed over missed reformsThe Union Budget 2026 kept crypto taxation unchanged, retaining the 1% TDS and loss set-off restrictions, disappointing the industry, which...
- 'May' isn't 'shall' penalty not the norm in black money law: ITATIn a groundbreaking decision, the Income Tax Appellate Tribunal has opened doors for taxpayers, clarifying that penalties for unreported of...
- I-T dept slaps Rs 23 cr fine on Adani Cement entity ACCThe Income Tax department has imposed two separate fines totaling Rs 23.07 crore on ACC Ltd for inaccurate income particulars in Assessment...
- Credit One Bank Settlement 2025: Lawsuit, payment details, eligibility, and claim formCredit One Bank faces a major class action lawsuit alleging misleading practices, inflated fees, and inaccurate reporting, impacting numero...
- UK fines TikTok over child safety data reportingBritish telecommunications regulator Ofcom said Wednesday it had handed video sharing platform TikTok a 1.9 million pound ($2.4 million) fi...
- Budget 2024: Not reporting these foreign assets in ITR won’t attract the Rs 10 lakh penalty under Black Money ActBudget 2024: It is proposed to amend the provisos to sections 42 and 43 of the Black Money Act to provide that the provisions of the said s...
- Canada intensifies $48 million plan to protect temporary foreign workers from scamsThe Canadian government has imposed $2.1 million in penalties on employers violating the Temporary Foreign Worker Program rules. Efforts to...
- I-T dept asks taxpayers to link PAN with Aadhaar by May 31 to avoid higher TDS deductionThe income tax department urged taxpayers to link PAN with Aadhaar by May 31 to avoid higher tax deductions, as unlinked PANs incur double ...
- Unaccounted deposits post demonetisation likely to attract up to 60% taxThe move comes amid banks reporting over Rs 21,000 crore being deposited in zero-balance Jan Dhan accounts in two weeks after the ban.
- Cash flows from treasure chest to treasuryThis tax bump up is expected to show up in the December quarter along with the advance tax payments for that quarter but people have floode...
- Concealed income by mistake? No I-T penaltyThe ITAT dismissed the penalty on the ground that the taxpayer had no mala fide intent to evade tax or claim refunds dubiously.
- Budget 2016: Two-point tax scale may tilt against taxpayers, say expertsJaitley proposed a change in rule aimed at reducing litigation and increasing transparency. But this could end up having the opposite effec...
- CAG unearths Rs 17,000 crore scam in railwaysThe UPA govt is staring at yet another massive scandal that has resulted in the state exchequer losing thousands of crores.
- Govt planning a slew of steps to focus on job creationIncreasing penalty on employers failing to notify vacancies in exchanges and making it mandatory for government project blue prints to refl...
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