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TAX MISCLASSIFICATION
ITR filing AY 2026-27: 8 costly mistakes taxpayers should avoid this tax return filing seasonThe I-T Department’s growing scrutiny, using AI and data analytics tools, leaves little room for omissions and errors, making accurate tax ...- At Big 4 firms, AI is starting to reshape the tax professionMajor accounting firms in India are embracing artificial intelligence for tax services. AI is automating routine tasks, research, and draft...
- ITR-2 online filing and excel utility for A.Y. 2026–27 are now enabled on the e-Filing ITR portalIndividuals and HUFs without business income but with complex income sources like salary, multiple house properties, or capital gains can f...
- Bombay HC stays GST demands on co-insurance premiumsThe Bombay High Court has granted interim relief to several insurance companies by staying GST demands on co-insurance premiums and ceding ...
- CAG pulls up govt for irregular grant of MEIS, SEIS benefits with revenue impact of Rs 725 crGovernment auditor CAG has flagged the Commerce Ministry and customs department for wrongly giving benefits under MEIS and SEIS schemes. Th...
- Bajaj Auto gets tax demand of Rs 34.74 croreBajaj Auto has received a tax demand of Rs 34.74 crore and a penalty of Rs 3.47 crore from Uttarakhand tax authorities for alleged misclass...
- India probes Adani Defence for tax evasion on missile parts imports, sources sayIndian authorities are investigating Adani Defence, a unit of Adani Enterprises, for allegedly evading $9 million in import taxes on compon...
- Congress accuses PM Modi of claiming “sole ownership” of GST reformsCongress has criticized Prime Minister Modi for allegedly taking undue credit for GST reforms, asserting that the changes remain insufficie...
- GST reforms to inject Rs 2 lakh cr into economy, boost demand across sectorsUnion Finance Minister Nirmala Sitharaman announced that recent GST reforms are projected to inject approximately Rs 2 lakh crore into the ...
- Samsung India executives seek to quash $81 million penalty over tax evasionSeven Samsung India executives are contesting penalties linked to a $601 million tax demand. They argue against the severity of the alleged...
- Samsung fights $520 million India tax demand, points to Reliance practiceSamsung is contesting a substantial tax demand in India. The company is accused of misclassifying imported networking equipment. Samsung ar...
- India singles out VW in $1.4 billion tax dispute, says Kia corrected courseIndian tax authorities have accused Volkswagen of evading $1.4 billion in taxes by misclassifying car imports for 12 years. The court battl...
- Kia contests $14 million India tax demand for wrongly using trade treaty exemptionsKia is challenging a $14 million Indian tax demand over claims it wrongly used free trade agreements for lower tariffs on electronic car pa...
- GST notices sent to over a dozen CNG kit providersThe notices, sent between September and November, allege that companies wrongly classified CNG fuel tanks as general cylinders for compress...
- Keep interest of economy before revenue in high-pitched tax notices: Revenue Secy to DRI officersRevenue Secretary Sanjay Malhotra urged DRI officers to target masterminds behind smuggling rackets while considering the broader economic ...
- RPSG group's Guiltfree faces Rs 39 crore GST demand noticeThe company said it is preparing an appropriate response to address the concerns raised in the show cause cum demand notice.
- New Foreign Trade Policy likely to include a chapter on ecommerce exportsThe commerce and industry ministry is drawing up the FTP 2021-26, which is likely to be released on April 1 and is expected to have separat...
- Infosys to pay California $8,00,000 over foreign workers’ visas, tax fraudInfosys will pay California USD 800,000 (nearly Rs 56 crore) to resolve allegations that between 2006 and 2017, approximately 500 Infosys e...
- DRI detects duty evasion of Rs 600 crore on coal imports in GujaratAs per DRI officials, tax recovery from all coal importers in the state has begun and over Rs 100 crore has been realised so far.
- Govt lost Rs 586 cr in 2008-09 in indirect taxes: CAGOfficial auditor CAG on Friday said the government has lost Rs 586 crore in excise and custom duties and service tax in financial year 2009...
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