New Income Tax Act to cut litigation, simplify compliance: FM Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Friday, March 20, said the new Income Tax Act seeks to significantly reduce litigation and […]
Income Tax Recent News – 2026
Last chance to fix ITR errors: How ITR-U works and who can file to report missed income
Have you missed reporting income or made mistakes in your Income Tax Return (ITR)? There is still a window to correct it.
This tax strategy lets you turn losses into tax savings before year-end
As the end of the financial year approaches, tax planning comes into focus for long-term capital gains (LTCG) from listed
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
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
