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TAXPAYER REGULARISATION
Govt opens tax disclosure window for foreign assets, incomeThe government has opened a limited window for taxpayers to disclose specified foreign assets and income. Two routes offer eligibility thre...- Foreign assets in AIS: CBDT sets the stage for Foreign Assets of Small Taxpayers Disclosure SchemeThe CBDT’s decision to upload foreign financial information into taxpayers’ annual information statements may be more than an administrativ...
- Have foreign income or assets? AIS to soon show foreign assets and income details shared by foreign countriesThis is a CBDT order dated July 8, 2026 issued under Section 119 of the Income-tax Act, 1961. It is an administrative order that authorizes...
- 10 ways individual taxpayers will be impacted most from Budget 2026: Tax slabs, ITR filing deadlines, Foreign Asset Disclosure Scheme and moreBudget 2026 introduces a New Income Tax Act effective April 1, 2026, with staggered ITR filing deadlines and reduced TCS on overseas tour p...
- One time undisclosed foreign income disclosure scheme announced in Budget 2026 for these taxpayersA new scheme will allow small taxpayers to declare undeclared foreign assets. This one-time offer covers income or assets up to one crore r...
- MCD records highest-ever property tax collection, crosses Rs 2,700 croreThe Municipal Corporation of Delhi has achieved its highest property tax collection ever, exceeding Rs 2,700 crore by December 31, 2025. Th...
- GST's 8th Anniversary: With disputes piling up, India pushes for faster, fairer resolution frameworkIndia's GST system, despite simplifying taxation, grapples with escalating disputes and adjudication delays. Pending cases have surged, blo...
- Municipal Corporation Delhi launches house tax amnesty scheme to ease burden on property ownersThe BJP-led Municipal Corporation Delhi (MCD) has introduced a house tax amnesty scheme to resolve issues of high taxes and arrears dating ...
- GST relief for foreign airlines, academic institutionsForeign airlines in India gain GST exemption for head office services to branch offices per a government notification. Academic institution...
- Govt notifies procedural changes in GST rules, interest to be charged for wrongful credit availmentWith the amendments notified by the Central Board of Indirect Taxes and Customs (CBIC), businesses have also been allowed to make tax payme...
- Government exempts small businesses from filing returns for FY22The amendment also allows for enabling automatic revocation of goods and services tax (GST) registrations cancelled once the return filing ...
- E-way bill generation to be blocked from August 15 for return non-filers: GSTNIn an advisory to taxpayers, the GSTN said, "The government has now decided to resume the blocking of EWB (eway bill) generation facility o...
- I-T dept offers one-time relaxation for verification of returns filed electronicallyThe Central Board of Direct Taxes (CBDT) has allowed for returns of all years from AY 2015-16 till AY 2019-20, to be signed and sent to CPC...
- All revised I-T returns post demonetisation under lensThe government told all tax offices to accept only those revised tax returns where there is a “bona fide inadvertent error” or “a mistake” ...
- CBDT declares Aug 31 as deadline for clearing pending ITRs, refundsThe department had introduced the e-validation of ITRs by using the Aadhaar and bank account numbers last year.
- Switzerland gears up for automatic exchange of tax informationSwitzerland has been perceived for long as a safe haven for alleged illicit funds or black money and it has been facing intense global pres...
- Last date for filing ITR-V for 3 Assessment Years extended till March 31The revenue department has extended till March 31 the time-limit for filing ITR-V Forms for Assessment Years 2009-10, 2010-11 and 2011-12.
- Untaxed money: Swiss banks to boost vigil on overseas clientsStepping up their efforts to curb flow of unaccounted money, Swiss banks will strengthen their due diligence of overseas clients & advise t...
- Send e-return copies to Bangalore centre: Income Tax department to taxpayersI-T dept has asked electronic filing taxpayers not having sent their returns copy for the two previous assessment years by post to its cent...
- I-T department to regularise income of Indians with a/cs in HSBC GenevaDepending on evidence, I-T dept may demand additional taxes with int & even levy a penalty for not disclosing the full income.
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