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TAX REASSESSMENT
ITAT: Accrued interest component on non-convertible debentures sales is taxable as interest incomeThe ITAT has held that the accrued interest component embedded in sale proceeds from non-convertible debentures cannot automatically be tre...- Income tax dept identifies up to 20,000 cases of individuals who used the ‘swapped provisions’ trick to reduce net tax liability; Know what to do now to fix thisThe Income Tax Department has flagged 15,000-20,000 cases of individuals using a 'swapped provisions' trick to unfairly reduce their tax li...
- Korea's AI crackdown may trigger healthy correction, India could benefit: Rahul ChadhaSouth Korean regulatory actions are prompting a reassessment of AI semiconductor valuations, though experts see this as a healthy correctio...
- Taxman to track slipping sectors & top tax payersThe communication, dated June 16, a copy of which was seen by ET, also mandated each zone to submit a report to the Directorate of Tax Rese...
- Balance sheet trick: Decoding another manipulation, and how to spot a bad apple in your portfolio before othersThere is one line in the accounts that most investors skip because it looks routine. But behind that line can sit disputed demands, old los...
- Tenant wins tax relief on Rs 38.62 lakh sale of landlord’s property, received for surrendering tenancy rights; know why ITAT Mumbai ruled in his favourA Mumbai tenant received tax relief after selling a property he obtained for surrendering his tenancy rights. The Income Tax Appellate Trib...
- Yuan or Dollar? Indian businesses explore alternatives as import costs climbIndian businesses, particularly MSMEs, are hesitant to adopt yuan-denominated settlements despite a weakening rupee. They prioritise locali...
- Mercury Retrograde 2026 Starts Soon: What Every Zodiac Sign Needs to KnowMercury Retrograde arrives in Cancer from June 29 to July 24, 2026. This celestial event focuses on emotions, family, and communication. As...
- Is India's economic growth real? Raghuram Rajan says something is offFormer RBI Governor Raghuram Rajan questions India's strong economic growth figures, citing weak corporate investment and declining foreign...
- India eyes more FDI, speed up divestment, asset monetisation as economy faces external risksIndia's government is set to accelerate reforms, focusing on attracting foreign investment and divesting assets. This strategy aims to main...
- GDP growth momentum intact, no need for additional borrowing so far: Govt sourcesIndia's economy is navigating external challenges like rising import costs. However, domestic consumption remains strong, ensuring growth m...
- Retired with 100 stocks and Rs 60,000 SIPs? Expert explains how to simplify your portfolio and plan withdrawalsRetirees face a new challenge: managing wealth after decades of building it. Experts advise simplifying complex portfolios, especially thos...
- US Customs’ $166 billion tariff refund plan faces court fight over who gets access to payoutsA government official testifies today in federal court. This concerns billions of dollars in import taxes. The Supreme Court ruled these ta...
- Income Tax Department issues ITR scrutiny guidelines: These ITR filers may face compulsory scrutiny in FY 26-27The CBDT has released new guidelines for compulsory income tax return scrutiny in FY 2026-27, impacting returns filed in FY 2025-26. Specif...
- Gas at $4: Americans cut back on discretionary spends as fuel bills mountAmericans are adjusting their spending as fuel prices climb. Shoppers are altering routines, visiting discount stores for gas, and cutting ...
- India considers spending curbs to protect fiscal deficit targetIndia's government is reviewing potential budget spending cuts. Higher oil prices are increasing subsidy costs and threatening fiscal goals...
- India should review FTAs, overhaul investment screening, report saysIndia should reassess the effectiveness of its existing Free Trade Agreements (FTAs), modernise its investment screening framework and adop...
- India's brain-gain moment may be starting with a crack in the American dreamAs green card backlogs, visa uncertainty and layoffs reshape the American dream, India is emerging as a stronger destination for globally e...
- Mumbai man received tax notice over unreported income, not filing ITR; ITAT rules in his favour on TDS benefit, tax demand reducedManoj Soman had not filed an ITR for the relevant assessment year, which is FY 10-11 in this case. Based on information available through t...
- TDS credit must be allowed even without income tax return, says Income Tax Appellate TribunalThe Income Tax Appellate Tribunal has ruled that tax deducted at source credit cannot be denied once income is taxed. This decision came in...
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