Income Tax News

ICAI has also talked about Clause 44 of Form 3CD in its guidance note on Tax audit - 2022 edition,...

For claiming foreign tax credit, as per Income Tax rules assessee is required to file Form 67 on e-filing portal...

The traditional method to verify Income Tax return is to sign and send the Income tax return to CPC, Bangalore....

On successful filing the TDS return an RRR number would be generated on e-filing portal which the tax deductor has...

The initial analysis of seized evidences of both the groups has revealed that they were engaged in large scale tax...

A preliminary investigation indicates that the group has indulged in generation of unaccounted income exceeding Rs. 150 crore. So far,...

The assessee can file a revised return in a case where there is an omission or a wrong statement. But...

As per proviso to section 56(2)(x) any amount of money or property received by the family member of a deceased...

(a) books of account, including the following, namely: - (i) cash book; (ii) ledger; (iii) journal; (iv) copies of bills,...

Evidence gathered during the search further reveals that some benamidars have been made partners in a firm doing the sand...

Your income-tax return has been identified under risk management process of the Income-Tax Department. In this context, your confirmation is...

4. It has been decided that in respect of any electronic transmission of return data on or after the date...

Hon’ble ITAT has mentioned that the word “may” cannot be considered as “shall”, and hence passed on a judgement that...

This Return Form can be used by a company as per section 2(17) of the Income Tax Act. This form...

AIS is the extension of Form 26AS. Form 26AS displays details of property purchases, high-value investments, and TDS/TCS transactions carried...