Indian wealth is increasingly seeking global anchors, with GIFT City, Dubai's DIFC and Singapore emerging as key contenders. Each hub offer...

New ITR forms for AY 2026-27 mandate Non-Resident Indians (NRIs) opting for the presumptive income scheme to separately disclose gross rece...

New tax rules for Tax Year 2026-27 begin April 1, 2026. Key changes affect TDS on NRI property and TCS on overseas remittances for educatio...

The Income Tax Rules, 2026 introduce significant benefits for salaried employees, including expanded HRA and meal card tax advantages. Thes...

Tax authorities nationwide are demanding taxes on partner bonuses and performance pay. Professional firms argue this income is already taxe...

The audit identified 1,847 observations, including 671 systemic issues and 533 compliance lapses. The largest discrepancies related to impr...

New income tax rules: Significant income tax changes are coming from April 1, 2026, with the Income Tax Act of 2025 replacing the 1961 act....

The government is deliberating on a new proposal aimed at relieving small enterprises from the requirement of undergoing mandatory audits. ...

Traders declaring business or F&O income below 6% of their turnover may face a mandatory tax audit. This rule applies even if turnover is b...

Income of any fund or institution or trust or any university or other educational institution or any hospital is exempt from income tax sub...

In all the cases, the department had allowed exemption on such foreign contributions involving tax effect of Rs 182.10 crore, said the repo...

"Certain trusts/ institutions are taking undue benefits by availing of the permissible accumulation of 15% out of the current year's income...

Income tax law mandates that such institutes can claim tax benefits available to them only after furnishing the tax audit report in form 10...

The exemption from Income-tax is given to only registered political parties subject to certain conditions, which are mentioned in Section 1...

To keep a tab on funds flowing through charitable trusts, the government plans to make it mandatory for such entities to provide their Perm...

A detailed audit by the CAG of some major trusts run by business houses and sports bodies has allegedly revealed misuse of income tax exemp...

The income tax department has ordered a special audit of the accounts of Commonwealth Organising Committee after detecting multiple violati...