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Mr Patel, who hails from Khatodara in Surat, Gujarat, is a co-owner of his late mother’s land in Althan. This plot, spanning 9,510 sq. meter was originally bought for Rs 21.17 lakh by his mother on March 31, 2008.
The Income Tax Department on Saturday (August 15, 2026) notified a new voluntary disclosure scheme allowing small taxpayers to declare certain undisclosed foreign assets and income by paying an effective 60% tax
The Delhi government has identified 10 acres of land to develop its new secretariat at ITO, which involves shifting of Income Tax Office, officials said on Thursday.
The Comptroller and Auditor General of India (CAG) has flagged delays, incorrect tax calculations, rejected eligible applications and revenue losses in the implementation of the Direct Tax Vivad se Vishwas (DTVSV) Scheme, 2020.
A company that lost a ₹79.25 lakh gratuity deduction because of an error in its income tax return has won relief from the Income Tax Appellate Tribunal (ITAT), Chennai.
The Income Tax Department is in the process of framing rules to implement a key provision from the Union Budget 2026–27 that will allow taxpayers to apply electronically for certificates authorising lower or nil deduction of tax at source (TDS), Minister of State for Finance Pankaj Chaudhary said.
When Mr Marathikyathanahalli, a retired teacher from Mysore, deposited Rs 1.33 crore in cash into his bank account, it triggered the red flag risk management strategy (RMS) established by the Central Board of Direct Taxes (CBDT).
The increase in monetary thresholds for filing tax dispute appeals at ITAT, high courts, and the Supreme Court has led to about ₹16,690 crore reduction in disputed tax demand, Parliament was informed on Monday.
The income tax department’s NUDGE campaign has resulted in 1.25 crore taxpayers filing updated or revised ITRs with payment of ₹9,494 crore in additional taxes over the past 2 years, Minister of State for Finance Pankaj Chaudhary said on Monday.
Lok Sabha introduces the Taxation And Other Laws (Amendment) Bill, 2026