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TAX DEMAND
ITR was processed under the old tax regime due to tax consultant's mistake, taxpayer faced Rs 1.23 lakh demand: ITAT Bangalore allowed new tax regimeRs 1.23 lakh tax demand notice sent as man filed ITR with new tax regime but it was processed with old tax regime due to tax consultant’s e...- China pauses approvals for battery storage manufacturing projectsThe move comes amid growing concerns about overcapacity risks in the energy storage sector, according to the report. That is despite a surg...
- Sebi's new sectoral debt fund category explained: Yields, tax and risksSEBI introduced sectoral debt funds allowing concentrated exposure in sectors like financial services and energy with high credit ratings. ...
- ‘You need to become a maid, plumber, carpenter, technician’: Indian man living in Norway gives a reality check on what life abroad is really likeMany Indians pursue opportunities overseas, often fixated on the allure of relocation rather than what life entails afterwards. While profe...
- Beer gets its buzz going as spirits market sobers upState-level tax increases hurt demand for spirits, with growth at only 2%; beer volumes jump 17%, led by Maharashtra and Karnataka.
- 70-year-old woman's Social Security check suddenly falls to $2,700; told to repay $35,000 within 30 days or face 50% benefit cutA woman in her 70s was shocked when her Social Security payment dropped to about $2,700 a month and the SSA told her to repay $35,000 in al...
- Rs 34.8 lakh difference in price and stamp duty added to husband's income for taxation despite jointly owned property - ITAT Mumbai calls it 'not justified'A husband and a wife bought a flat jointly for Rs 60 lakh, however, the stamp duty value stood at Rs 94.8 lakh, leading to a difference of ...
- Sterlite Tech shares hit 5% upper circuit as firm targets Rs 20,000 crore revenue by FY29 amid booming AI demandSterlite Technologies shares hit a 5% upper circuit after unveiling ambitious FY29 growth targets, including Rs 20,000 crore revenue and gl...
- 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. ...
- Yotta targets Jan-March 2027 IPO, seeks up to $1.5 billion amid AI boomYotta Data Services is gearing up for an initial public offering scheduled for early 2027, aiming to secure as much as $1.5 billion to sett...
- 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...
- No more hush-hush: Tax portal opens door to misconduct complaintsThe Income Tax portal now allows taxpayers to report misconduct. A new tab enables complaints against officers for sexual harassment or bri...
- India’s August fuel story: Petrol, diesel up, LPG down sharplyPetrol and diesel sales saw significant year-on-year increases in August. This growth was fueled by greater mobility and a strengthening ec...
- Car sales jump 36% in August, companies gear up for festive boomIn India, passenger vehicle sales achieved impressive double-digit growth last month, spurred by automakers ramping up factory dispatches t...
- 7.8% slam dunk! 'Dead' economy proved to be quite alive and kickingIndia’s GDP grew 7.8% in Q1 FY27, beating RBI’s 7% forecast and the 7.1% Reuters poll median despite an oil shock, geopolitical tensions an...
- South Korea proposes record $597 billion 2027 budget to supercharge AI investmentIn its annual budget proposal, the budget ministry said the spending plan represented a 12.8% rise from 2026, marking the largest year-on...
- SC sets aside show cause notice to Tata Steel over input tax credit availed during FY19-23The Supreme Court has quashed a tax demand notice against Tata Steel. This notice involved an alleged irregular input tax credit claim. The...
- 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...
- IIFL Finance shares drop 8% as IIFL Home Finance gets Rs 963 crore tax demandIIFL Finance shares fell sharply on Tuesday after subsidiary IIFL Home Finance received a Rs 963.39 crore income tax demand covering April ...
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