Disputed tax demand down ₹16,690 cr since hike in monetary limit for filing appeals, LS told
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 …
CBDT’s Nudge campaign results in 1.25 crore updated ITRs, ₹9,494 crore additional tax payment
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, …
Lok Sabha introduces the Taxation And Other Laws (Amendment) Bill, 2026
Lok Sabha introduces the Taxation And Other Laws (Amendment) Bill, 2026 …
Income tax on property sale: Gujarat HC quashes reassessment notice over ₹92 lakh land sale; here’s why
The Gujarat High Court has quashed a reassessment notice issued by the Income Tax Department in a long-running capital gains dispute, …
Disputed tax demand drops ₹16,690 cr after hike in tax appeal limits: Govt
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 …
Over 5.9 crore income tax returns filed by July 31 for AY27 as deadline closes
More than 5.9 crore income tax returns (ITRs) were filed by taxpayers for the assessment year (AY) 2026-27 by July 31, marking the close of the due date for individuals …
LG Electronics India gets ITAT order deleting ₹1,305 Cr tax additions
LG Electronics India Limited received a favorable order from the Income Tax Appellate Tribunal (ITAT) on July 29, 2026, which deleted tax additions totaling approximately INR 1,305 Crores. The ruling resolves …
ITR filing 2026: What happens if you miss the July 31 deadline
taxpayers who are yet to submit their returns need to act before the July 31 deadline. Missing the due date can lead to additional costs, including late filing fees and …
ITR filing mistake: ITAT deletes ₹17.41 lakh penalty after CA firm’s affidavit proves clerical error
A Mumbai taxpayer has secured relief from a ₹17.41 lakh penalty after the Income Tax Appellate Tribunal (ITAT) held that an inadvertent filing mistake by a chartered accountant’s office, backed by a sworn …
Billionaires in India rise fourfold to 576 in five years in 2025-26: Income tax return data
The Parliament was informed on Monday that up to 576 persons reported gross total income of Rs 100 crore or more in their income tax returns for the 2025-26 assessment …
