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TAX AUTHORITIES
SC sets aside show cause notice to Tata Steel over input tax credit availed during FY19-23- Is severance pay received under a VRS taxable for all employees? Know what the Income Tax law says
- Rs 2.25-crore notice under Black Money Act to Delhi couple over Singapore, British Virgin Islands assets: ITAT Delhi gave full relief to taxpayer, know why
- New mines law seeks to bring tax uniformityA new Mines and Minerals Act, 2026, aims to standardize mining taxation across India. This legislation seeks to bring uniformity and predic...25 Aug, 2026, 11.45 PM IST
- India court to re-hear Volkswagen's challenge to $1.4 billion tax demand, sources sayAn Indian court will re-hear Volkswagen's challenge to a significant tax demand. This decision comes more than a year after arguments in th...25 Aug, 2026, 08.32 PM IST
- Employees exercising their ESOPs should know how a recent ITAT ruling will determine whether the benefit is taxed as perquisite or capital gainsA recent ITAT decision clarified ESOP repurchase taxation. The tax tribunal ruled that repurchased options are capital assets, not perquisi...25 Aug, 2026, 04.09 PM IST
- Have undisclosed foreign assets or income? Know the extra tax cost if you miss FAST Scheme 2026's December 31 deadlineIndia's FAST Scheme 2026 provides a unique opportunity for taxpayers to declare foreign assets. This voluntary disclosure window closes on ...25 Aug, 2026, 03.32 PM IST
- Gurgaon rain leaves school bus stuck in traffic for 8 hours amid severe waterlogging; Class 2 girl trapped for 8 hours comes home hungry and traumatisedGurgaon rain: Heavy rain and severe waterlogging in Gurgaon left several school buses stranded for hours on Monday, with some children taki...25 Aug, 2026, 01.25 PM IST
- SC asks Centre to consider devising safeguards to ensure no misuse of EPFO, ITR dataThe Supreme Court finds private access to sensitive EPFO and ITR data worrisome. It urged the Centre to devise safeguards against potential...25 Aug, 2026, 12.56 PM IST
- Delhi HC raps I-T dept over Rs 53 crore Vodafone Idea refund delayThe Delhi High Court has ordered the income tax department to refund Vodafone Idea ₹53.09 crore. This refund is for assessment years 2003-0...25 Aug, 2026, 12.09 AM IST
- FBAR 2026: Have more than $10,000 in foreign accounts? This overlooked U.S. filing rule could cost you thousands if you miss Form 114A foreign bank account can create a major U.S. tax filing duty. The FBAR, or FinCEN Form 114, applies when qualifying foreign accounts exce...24 Aug, 2026, 10.50 PM IST
- Bengaluru civic bodies to clean vacant plots, recover costs from owners through property taxBengaluru’s five city corporations will launch a citywide drive from Thursday to clean neglected vacant plots after low compliance from own...24 Aug, 2026, 05.51 PM IST
- 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...24 Aug, 2026, 04.27 PM IST
- Karol Bagh man had foreign bank accounts, FD in Singapore, no ITR disclosure; income tax dept sent black money notice, but ITAT Delhi cancelled the notice for this reasonBlack money notice sent to man with Singapore FD and current bank a/c in his name and no ITR declaration; Know how he won case in ITAT Delh...24 Aug, 2026, 04.14 PM IST
- Missed reporting of overseas bank accounts, ESOPs, and foreign assets in Schedule FA of ITR? FAST-DS offers a chance to come cleanThere is an important caveat: the Black Money Act provides relief from Schedule FA penalty for certain foreign assets, other than immovable...24 Aug, 2026, 11.22 AM IST
- Employee got Rs 30 lakh salary after job switch, did not file ITR, Income Tax dept imposed Rs 3.74 lakh penalty; he fought and won the case in ITAT DelhiEmployee switched job and got Rs 30 lakh salary on which TDS was deducted, forgot to file ITR, Tax dept sent notice and imposed Rs 3.74 lak...23 Aug, 2026, 08.42 AM IST
- IRS final notice of Intent to Levy: What 30 days means before the IRS can seize money or propertyThe IRS Final Notice of Intent to Levy is a serious warning. It can come before the IRS takes money or property to collect an unpaid tax de...22 Aug, 2026, 09.01 PM IST
- Plant 500 trees and explain Rs 11.22 crore additional income: A rare direction from ITAT Chandigarh asks taxpayer with Rs 1.79 lakh income shown in ITRThis Haryana man's case was picked up for scrutiny, and during the proceedings the Assessing Officer found large cash deposits, unsecured l...21 Aug, 2026, 07.10 AM IST
- Kanpur guard earning Rs 10,000 got a Rs 3 crore GST notice last year, lost his job, still running from pillar to postKanpur security guard Om Shukla, who earns Rs 10,000 a month, says he was wrongly issued a Rs 3 crore GST recovery notice over a firm calle...20 Aug, 2026, 02.14 PM IST
- Singapore plans tax breaks, easier visas to attract fund managersSingapore plans tax exemptions on certain fund-management profits and wider access to a five-year visa for investment professionals as it c...19 Aug, 2026, 11.47 AM IST
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