The Income Tax Department seized all these items and the Assessing Officer (AO) asked the woman…
Tag: Income Tax department
Bengaluru man had Rs 41.69 lakh unexplained cash deposits, filed no ITR, claimed income below Rs 5 lakh and said his wife and father paid his expenses; why ITAT still refused relief
The officer treated Rs 41.69 lakh as unexplained cash deposits under Section 69A. (Image for representative…
He got Rs 30 lakh salary but missed ITR filing after changing jobs due to delayed Form 16; Income Tax department imposed Rs 3.74 lakh penalty, how taxpayer won relief from ITAT
Although the Form 16 was not available to him, Aggarwal’s Form 26AS contained the details of…
Weaker rupee may push foreign assets above FAST-DS Rs 1 crore limit: Taxpayers could lose the disclosure window which allows lower 60% tax outgo and face a steeper income tax bill
Since the tax payable through an updated return could be higher, an assessee may potentially save…
Overseas remittances in focus: I-T uncovers Rs 1.29 lakh crore trail – money sent to China, UAE & more
Investigators found that a significant share of the funds was routed to a small group of…
Direct tax collections rise sharply to Rs 8.11 lakh crore; non-corporate taxes lead
India’s net direct tax collections jumped 23.09% to Rs 8.11 lakh crore by August 10, 2026,…
ITR filing: How to track your tax refund status online; here’s a quick step-by-step guide
The tax-filing portal will show whether the refund is under processing, issued, or adjusted against an…
Income tax refund: How soon after filing ITR can you expect your refund to be issued?
The Income Tax Department begins processing refunds only after a taxpayer completes e-verification of the return.…
Wife can’t use RTI to access husband’s ITRs for maintenance case: Delhi High Court sets aside CIC order
The Court observed that if the Court allowed such disclosure under the RTI Act, it would…
Why the Income Tax Department is opposing a same-sex couple’s plea for spousal tax benefits
NEW DELHI: A same-sex couple has challenged a part of the Income Tax Act in the…