No more Form 15G or 15H: 10 things to know about Form 121 if your tax liability is nil
If your income falls below the total taxable limit and you are not liable for any tax liability, you can […]
Income Tax Recent News – 2026
PAN rules explained: Here’s when it’s mandatory for your transactions
Quoting a Permanent Account Number (PAN) is no longer a formality in several high-value transactions but a regulatory requirement that
Missed tax break on property sale? ITAT allows Section 54 in reassessment
A recent ruling by the Income Tax Appellate Tribunal (ITAT) has offered relief to taxpayers who failed to claim capital
What happens if your employer deducts TDS but doesn’t deposit it with govt? ITAT ruling brings clarity
Imagine checking your Form 26AS and realising that the tax deducted from your salary never actually reached the government. Worse,
Delhi High Court says share buybacks aren’t income, offers big tax relief to companies
In a major relief for India Inc, particularly for companies that rely on buybacks as a legitimate capital allocation strategy,
Retrospective jurisdiction fix triggers fresh tax disputes
A retrospective amendment to the Income Tax Act, 1961, clarifying the role of the Jurisdictional Assessing Officer (JAO) vis-à-vis the
No TDS even if property value is above Rs 50 lakh? ITAT gives relief to these homebuyers
Buying a property worth more than Rs 50 lakh usually comes with a tax obligation — the buyer must deduct
Income tax department moves SC in Genpact tax case
The income tax department has moved the Supreme Court challenging a Delhi High Court decision that refused reopening of Genpact
Income Tax dept to launch outreach programme on new tax law
The regional income tax (I-T) headquarters for Bihar and Jharkhand has prioritised an outreach programme to familiarise stakeholders with the
Tax benefit claimed for reinvestment allowed during reassessment: ITAT
In a taxpayer-friendly ruling, the Mumbai bench of the Income tax appellate tribunal (ITAT) recently held that a claim for
