Charitable trusts get Bombay HC relief in registration dispute with I-T department
In a significant relief to charitable trusts, the Bombay high court has held that registration under Section 12AB of the […]
Income Tax Recent News – 2026
Physicswallah receives Rs 263.34 crore income tax demand notice
Edtech firm Physicswallah has received an income tax demand notice of Rs 263.34 crore for the assessment year 2023-24. The
Advance tax collections rise 6% in FY26 despite fall in non-corporate taxes
Even after de-growth in mop-up from non-corporate tax (NCT) assesses, advance tax collection, after all the four instalments, rose by
Income tax department raises demand notice for Rs 204 crore on TMB
The income tax department has raised a demand notice for Rs 204 crore on the Tamilnad Mercantile Bank (TMB) for
No Legal Definition Of HNIs Under Income Tax Law: Government
The government has clarified that there is no specific legal definition of High Net Worth Individuals (HNIs) under the Income-tax
Financial year ending soon: Key tax tasks to wrap up before March 31
With just two weeks left before the financial year ends on March 31, taxpayers still have a short window to
WhatsApp chats lead to Rs 22.5 crore tax demand for a taxpayer – ITAT ruling clarifies what counts as evidence
In a significant ruling, the Income Tax Appellate Tribunal (ITAT), Delhi struck down a Rs 22.5 crore tax addition made
2.1 million individuals now have tax liability above Rs 5 lakh
The share of individual return filers with annual tax liability of Rs 5 lakh and above has shown a consistent
Maruti gets ₹5,786 cr income tax order; to challenge before dispute resolution panel
Maruti Suzuki India (MSI) on Tuesday said it has received a draft assessment order worth ₹5,786.4 crore from the income
Income tax return filing: Key errors to avoid when reporting overseas assets in ITR
As the financial year approaches its close on March 31, taxpayers with overseas financial interests may need to pay close
