The notification expands reporting rules to include central bank digital currencies, electronic money products and relevant crypto-assets for tax information ...

For salaried professionals without significant tax-saving investments or housing rent exposure, the new regime represents both simplicity and fiscal efficiency ...

When Section 139 (8A) was introduced in 2022 to permit updated returns, Section 4 of the Black Money Act was not amended to recognise such returns. With the replacement of Section 139 by Section 263 ...

The Central Information Commission has urged the Income Tax Department to create a taxpayer-friendly mechanism to address ...

Bhopal (Madhya Pradesh): The Income-Tax department will seize 52 kg gold, ₹11 crore in cash and the car from which the gold and cash were recovered. The assets allegedly belong to former RTO constable ...

An NRI faced a tax addition of ₹56.15 lakh after buying property in India when the tax department questioned the source of funds. However, the ITAT Ahmedabad deleted the addition after verifying that ...

In a recent statement, the Central Information Commission has called on the Income Tax Department to overhaul its system for taxpayers. It has come to light that many are struggling to rectify TDS ...

The Central Information Commission (CIC) has advised the Income Tax Department to “institutionalise a taxpayer-friendly mechanism”, flagging that taxpayers are often made to run from “pillar to post” ...