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Businesses should engage constructively with the government as well as regulators and avoid turning every disagreement into litigation, Finance Minister Nirmala Sitharaman said on Tuesday, calling for greater trust, predictability and transparency among the parties.
The policy provides financial and administrative support to companies establishing Global Capability Centres in Uttar Pradesh
The September 30, 2026 deadline for filing tax audit reports for assessment year (AY) 2026-27 is fast approaching, but the government has not announced any extension so far.
The Union government has moved the Supreme Court against a Punjab and Haryana High Court ruling that declared Section 147A of the Income Tax Act unconstitutional, a decision that has raised questions over the validity of reassessment proceedings conducted by jurisdictional tax officers.
Tax officer imposed a 200% penalty of Rs. 4.85 lakh, but ITAT cut it to Rs. 1.21 lakh.
Two income-tax officials and two others were arrested Thursday for allegedly conducting a fake raid on a Chakala company and demanding Rs 1 crore, taking the total arrests in the case to 10. It was masterminded by a driver sacked by the company three months ago, said police.
The tax department cannot tax rental income in the hands of individual landowners if the commercial building was constructed under a joint development agreement (JDA) and the earnings from it have already been disclosed and assessed in the hands of a genuine partnership firm, the Income Tax Appellate Tribunal (ITAT) Bangalore has recently ruled.
The Income Tax Department is conducting searches at premises linked to Dentsu Media Group as part of a suspected tax evasion probe. The searches are underway at locations in Mumbai, Delhi, Chennai and Bengaluru. The Income Tax officials are examining…
The Income Tax Appellate Tribunal (ITAT) has deleted a ₹11,003-crore tax disallowance against Reliance Jio Infocomm for the assessment year 2019-20, ruling that how a company records an expense in its books does not, by itself, determine how it should…
A car or other high-value products provided by a brand to a social media influencer may not always be treated as a simple ‘gift’ and could have income-tax and GST implications, chartered accountants discussed at a two-day sub-regional conference of the Institute of Chartered Accountants of India (ICAI) in Vadodara.