The Income Tax Department on Saturday notified the Foreign Assets of Small Taxpayers-Disclosure Scheme (FAST-DS), allowing eligible taxpayers to declare undisclosed foreign assets and income by paying an effective 60% tax. The…
Even after filing your income tax return (ITR) on time, you may still receive a notice from the income tax department. According to ndtvprofit.com, there are three reasons why this can happen.…
The Income Tax Appellate Tribunal’s Surat bench has ruled that bank deposits cannot automatically be treated as taxable income under Section 44AD. Tax authorities must first examine the source and nature of…
The CBDT’s one-time Foreign Assets of Small Taxpayers Disclosure Scheme will accept declarations from August 16 to December 31, 2026. Eligible taxpayers can disclose certain foreign assets or income through electronic Form…
The Foreign Assets of Small Taxpayers Disclosure Scheme will open on August 16, 2026, and accept declarations until December 31, the Income Tax Department said. Asset values will be calculated as on…
The Income Tax Department has withdrawn 5,978 appeals and decided not to file another 17,489 after higher monetary limits were introduced for departmental tax appeals. The figures, disclosed by Finance Minister Nirmala…
The Income Tax Appellate Tribunal, Ahmedabad, has cancelled a Rs 2.31 lakh penalty imposed on Niket Maheshbhai Shah over a Rs 3.71 lakh deduction claimed for a political donation under Section 80GGC.…
Banks must report total cash deposits exceeding Rs 10 lakh in a savings account during a financial year to the Income Tax Department, Mint reports. The threshold covers one or several transactions…
India's net direct tax collections rose 23.09 per cent year-on-year to Rs 8.11 lakh crore as of August 10, 2026, the Income Tax Department said. Non-corporate tax led the growth, jumping 23.4…
Ashin Xavier: interesting
IO Repro: Repro test v4 after fix 2 Oct. Safe to trash.
IO Repro: Repro test v3 after fix 2 Oct. Safe to trash.
IO Repro: Repro test after fix 2 Oct. Safe to trash.