Gratuity tax deduction of ₹79.25 lakh denied over wrong ITR schedule, ITAT Chennai rules in taxpayer’s favour
A company that lost a ₹79.25 lakh gratuity deduction because of an error in its income tax return has won […]
Income Tax Recent News – 2026
‘From ₹14.12 lakh crore to ₹23.40 lakh crore in 5 years’: How govt is tightening the tax net
The government has stepped up efforts to curb tax evasion and improve compliance through tighter reporting requirements, data-based monitoring and
Can’t use I-T revision plea to bypass deadline for revising returns: Supreme Court
The Supreme Court has ruled that a revision petition under Section 264 of the Income Tax Act cannot serve as
Calcutta High Court bins ‘conditional order’ that upheld Rs 1.23 crore tax blow to firm
The procedural machinery of law must remain a “handmaid to justice rather than its mistress”, the Calcutta High Court said
₹1.33 crore cash deposit, no ITR filing: How a retired teacher won his income tax case at ITAT Bangalore
A retired school teacher from Mysore who had deposited ₹1.33 crore in cash across bank accounts and had not filed an
REITs set to gain tax flexibility, cash flow boost under new Bill
Real Estate Investment Trusts (REITs) are set to gain greater tax flexibility and potentially lower cash tax outgo, with the Taxation
Income Tax Department Uses Data Analytics To Flag Bogus Deduction Claims
The Income Tax Department (ITD) has detected cases involving wrongful tax relief and non-genuine deduction claims by using data analytics,
ITAT: Flipkart employee’s Rs 2.33 Crore ESOP buyback taxable as capital gains, not salary
Can money received from an Employee Stock Options (ESOPs) buyback be taxed as salary even if the employee never exercised
Automatic TDS refunds without ITR filing? Delhi High Court seeks Centre’s reply. Here’s why
The Delhi High Court has sought the Central government’s response to a public interest litigation (PIL) that challenges the requirement
Income Tax Department Releases ITR-5 Offline Utility for AY 2026-27
The Income Tax Department has released the Offline Utility for ITR-5 for Assessment Year 2026-27 on the e-Filing portal. The
