Income Tax Department reduces time allowed to apply for old income tax refunds; check the new time limit
The Central Board of Direct Taxes recently issued a circular for condonation of delay in filing ITR. ​The latest circular has ...
The taxman knows about your foreign assets and is giving you a chance to revise ITR
This approach is different from the usual process where the defaulting taxpayers would be summoned by the tax department for ...
Rs 10 Lakh Penalty If Foreign Assets, Income Not Disclosed
The Income Tax Department has cautioned taxpayers that not disclosing foreign assets or income in their Income Tax Return ...
Tax Court Affirms IRS Lacks Authority To Assess Certain Foreign Information Penalties
The latest decision in Mukhi v. Commissioner came after a flurry of activity involving the IRS' ability to assess the penalty ...
LDA prepares list of high-value land buyers for tax probe
To date, about 200 prominent individuals who purchased large plots of land from the authority have been included. The list ...
H&R Block, Intuit drop on report that Musk's DOGE may develop a tax app
H&R Block, Intuit stock dropped amid a report that Elon Musk's Department of Government Efficiency may develop a tax filing ...
The Financial Express3h
Taxpayers’ Lounge at India International Trade Fair: Get all your tax-related queries answered and issues resolved!
Reflecting the theme of Viksit Bharat, the pavilion’s central structure illustrates India’s aspirations to shine on the ...
Louisiana Senate Committee Votes to Keep Film Tax Credit While Lowering Cap to $125 Million
The Louisiana Senate has proposed keeping the film incentive, though with a reduced cap, after the House voted to repeal it ...
Intuit, H&R Block shares fall after report that Trump government efficiency team is considering tax-filing app
Intuit, which makes the TurboTax tax-filing software, was down 5%, putting it on pace for its worst day since Aug. 23, when ...
ABP Live on MSN12h
ITR Filing: Disclose Your Foreign Income By Dec 31 To Avoid Penalties, Says CBDT Chairman
The official said that individuals who haven’t shared these details yet should do the same in their revised return for the ...
Tax Guru6h
CBDT Launches Awareness Campaign on Foreign Asset Disclosure
Central Board of Direct Taxes (CBDT) has initiated a Compliance-Cum-Awareness Campaign for AY 2024-25 to assist taxpayers in accurately completing Schedule Foreign Assets (FA) and reporting foreign ...
Tax Guru1h
No Reassessment Without Concrete Evidence on Loan Sources
Conclusion: Once the company had shown the source of giving loan from various transactions reflected in the bank statement and had given the details, there were no reason to doubt the source of funds.