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TAX NOTICE FOR BLACK MONEY
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...- Tax notice in a deceased person's name? Don't ignore it; here's what legal heirs should doDid someone close to you leave behind unresolved tax responsibilities? Explore how heirs can address income tax notices, file overdue retur...
- NRI can’t sell Indian property before October 1, 2026 if buyer does not have TAN; Know how to apply for TAN onlineThe TDS rulesfor NRIs say that there isno thresholdlimit for TDS deduction, whereas resident Indians get a threshold limit of Rs 50 lakh be...
- Is severance pay received under a VRS taxable for all employees? Know what the Income Tax law saysSeverance pay received under a voluntary retirement scheme is not always taxable for all employees; Know why and what the 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 whyTax officer sent black money notice to Pitampura based couple and added Rs 2.25 undisclosed money from Singapore and British Virgin Islands...
- 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 ...
- Income tax notices: 8 notices salaried employees could get after filing ITR and what to do next
- Selling inherited property? Know who is liable to pay income tax on capital gains and how heirs can claim tax reliefSelling inherited property? Know who among the brothers and sisters are liable to pay capital gains tax on it and how to claim tax relief.
- 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...
- 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...
- 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...
- Income tax notice: 8 common notices, why you get them and how to respond
- JioBlackRock Mutual Fund announces feature changes across 6 funds, including flexi cap, large capJioBlackRock Mutual Fund will revise six schemes from August 26 to align with SEBI norms. Changes include broader gold and silver ETF expos...
- Unsuspecting landowner got income tax notice as his land was sold for Rs 6.82 crore cash by someone via forged sale deed; he fights back and wins tax case in ITAT Ahmedabad on this groundFor Rs 6.82 crore cash notorious land grabbing gang sold land via forged sale deed with forged signature of landowner; however landowner go...
- 8 income tax notices that salaried employees can get after filing ITR; know what they mean and how to respondEmployees who are on a salary may find themselves receiving tax notices following their income tax return filings. These notices typically ...
- 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...
- Foreign Asset Disclosure Scheme 2026: From budget proposal to rollout - what residents and NRIs need to knowThe Foreign Assets of Small Taxpayers Disclosure Scheme, 2026 has moved from Budget proposal to implementation. This article explains its t...
- NRI bought life insurance policy in Dubai from a foreign insurer, got maturity proceeds after returning to India, his claim for tax exemption was denied; he won the case in ITAT for this reasonAn Indian resident successfully challenged the tax department's claim of undisclosed foreign income on maturity proceeds from a Dubai life ...
- Man did not disclose UAE bank account and foreign shares in ITR, I-T dept imposed Rs 1.86 lakh penalty; He escalates the case but ITAT Delhi offers no reliefDubai connection: Man claimed friend sent money to Dubai Emirates NBD bank a/c to start business but didn't disclose foreign assets in Sche...
- Income tax notice: Filed ITR before July 31? 5 reasons you could still get a notice
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