Income tax
Guidance Note on Tax Audit u/s 44AB of the Income tax Act, 1961 (Revised 2025)
The Institute of Chartered Accountants of India published 10th Edition of Guidance Note on Tax Audit u/s 44AB of the Income tax Act, 1961 (Revised 2025)
US President Donald Trump on Wednesday announced 25% tariffs and an additional penalty against India ahead of the August 1 deadline.
Action to be taken against CAs if they violate new tax audit limit rules: ICAI president
ICAI will initiate penal action against chartered accountants if they violate its new tax audit limit
The Income tax Department has enabled online filing for ITR-3 on its e-filing portal for Assessment Year 2025-26 (Financial Year 2024-25), easing return submissions for individuals with income from share trading (including F&O), business ventures, and investments in unlisted shares.
Chhattisgarh GST department has exposed one of the biggest crackdowns of Rs. 1 crore tax evasion scam linked to inflated medical supply contracts worth Rs. 48 crore by a Raigarh-based firm accused of allegedly manipulating invoices and routed transactions through shell companies to dodge taxes and secure massive profits from govt health contracts.
ITR filing: How a taxpayer beat a Rs 1.46 lakh penalty despite false deductions
In a rare but eye-opening tax case, a salaried individual, Mr Shinde, managed to escape a hefty penalty of Rs 1.46 lakh — even after it was revealed he had under-reported 50% of his income using bogus deductions. Here’s how he turned what looked like a sure-shot penalty into a clean slate.
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