By: AdminMay 11, 2024Categories: Income Tax|Income Tax News4 Min Read As the tax filing season for the assessment year 24-25 gains momentum, official data reveals that a notable number of…
Karnataka HC refuses to quash tax evasion case against bookies operating at Bangalore Turf Club
By: AdminMay 11, 2024Categories: Income Tax|Income Tax News4 Min Read The Karnataka High Court recently refused to quash a case involving alleged tax evasion by bookies operating at the Bangalore…
Income Tax Department Releases Updated Excel Utility and Schema of ITR-3 for AY 2024-25
By: AdminMay 11, 2024Categories: Important News|Income Tax News4 Min Read The Income Tax Department released updated Excel Utility and Schema of ITR-3 for AY 2024-25. For individuals and HUFs having…
HNI investors in offshore ‘blank cheque’ companies receive income tax notices
By: AdminMay 11, 2024Categories: Income Tax|Income Tax News4 Min Read Well-heeled Indians betting on ‘blank cheque’ firms — the Wall Street term for special purpose acquisition companies or SPACs —…
Stricter disclosures by trusts likely, govt mulls changes in Income Tax Act
By: AdminMay 08, 2024Categories: Income Tax|Income Tax News4 Min Read The government is planning to amend the Income Tax Act to comply with the FATF (Financial Action Task Force) guidelines…
ITAT Mumbai: Redemption of unlisted NCDs will not result in cap gains, but interest income
By: AdminMay 08, 2024Categories: Income Tax|Income Tax News4 Min Read The Mumbai bench of the Income-tax Appellate Tribunal (ITAT) recently ruled that the difference between the proceeds received from redeeming…
Over 800,000 income tax returns filed so far for AY 24-25
By: AdminMay 08, 2024Categories: Income Tax|Income Tax News4 Min Read Over 800,000 income tax returns have already been filed for Assessment Year 2024-25 since the Central Board of Direct Taxes…
FM Nirmala Sitharaman Dismisses Reports Of Income Tax Tweaks That Triggered 1,100 Sensex Plunge
By: AdminMay 04, 2024Categories: Income Tax|Income Tax News4 Min Read Finance Minister Nirmala Sitharaman addressed concerns on Friday regarding speculative reports of impending income tax changes that led to a…
CBI arrests senior income tax official for taking Rs 4 lakh bribe in Mumbai
By: AdminMay 04, 2024Categories: Income Tax|Income Tax News4 Min Read The Central Bureau of Investigation (CBI) has arrested a senior official of the Income Tax (IT) department from Mumbai for…
Edelweiss Financial Services subsidiary gets Rs 28.78 crore income tax demand
By: AdminMay 03, 2024Categories: Income Tax|Income Tax News4 Min Read Edelweiss Financial Services on Wednesday said its subsidiary Ecap Equities has received an income tax demand notice of Rs 28.78…