FAST-DS 2026: विदेशी संपत्ति के खुलासे का मौका, नियम जारी
विदेशी संपत्ति और कमाई के खुलासे के लिए FAST-DS (फॉरेन एसेट्स ऑफ स्मॉल टैक्सपेयर्स डिस्क्लोजर स्कीम), 2026 16 अगस्त से शुरू हो गई है। बिज़नेस टुडे के अनुसार, यह योजना 31 दिसंबर…
All posts tagged in income tax department8- Page
81Articles
NRI wins Rs 79 lakh tax dispute over Mumbai flat purchase
An NRI and US citizen who bought a Rs 79.9 lakh flat in Kandivali West, Mumbai, between 2011 and 2018 has won a tax dispute at the Income Tax Appellate Tribunal (ITAT)…
CBDT notifies foreign asset disclosure scheme for small taxpayers
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…
Filed ITR on time? Three reasons you may still get a tax notice
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.…
ITAT says bank deposits cannot automatically be taxed under Section 44AD
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…
FAST-DS opens August 16 for small taxpayers with foreign assets
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…
Foreign asset disclosure window opens on August 16
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…
Government drops 23,467 income-tax appeals under higher limits
The Income Tax Department has withdrawn 5,978 appeals and decided not to file another 17,489 after higher monetary limits were introduced for departmental tax appeals.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…
ITAT Ahmedabad deletes Rs 2.31 lakh tax penalty
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.…
Cash deposits above Rs 10 lakh may face tax scrutiny
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…
