Income Tax
The Annual Information Statement (AIS) now displays foreign asset information, helping taxpayers verify offshore holdings and ensure accurate disclosure when filing income tax returns.
Income Tax
The Income Tax Department has enhanced the Annual Information Statement to display foreign asset details for three calendar years, making compliance easier while strengthening …
Income Tax
The Income Tax Department has signaled it may not extend the July 31 deadline for filing returns. Taxpayers should understand the reasons behind this …
Income Tax
The Karnataka High Court has ruled that income tax orders remain valid if the Document Identification Number is communicated through a separate intimation after …
Income Tax
Moving abroad doesn't automatically exempt you from Indian tax obligations. Understanding residential status and income sources is crucial to determine if you need to …
Income Tax
India's net direct tax collections have grown significantly to Rs 6.51 lakh crore by mid-July, reflecting robust economic activity and improved tax compliance across …
Income Tax
The Delhi High Court will consider a petition concerning the taxation of judges' allowances under India's new income-tax regime, raising questions about how judicial …
Income Tax
The government has notified the Income Tax Rules 2026, ushering in a new compliance regime effective April 1. Here's what taxpayers and businesses need …
Income Tax
Filing your income tax return correctly is crucial to avoid hefty penalties ranging from late fees to penalties of up to 200% of the …