In a significant ruling, the Income-Tax Appellate Tribunal (ITAT) Mumbai bench has provided relief to taxpayers by stating that penalties for income concealment cannot be imposed if a taxpayer has corrected all errors in a revised tax return.
The rapid expansion of digital payments in India has brought a surge in tax evasion cases, particularly among small online merchants.
It is being erroneously reported that all Indian citizens must obtain income-tax clearance certificate (ITCC) before leaving the country - a position that is factually incorrect
The Ministry of Education has stepped in to address a substantial GST notice issued to the Indian Institute of Technology (IIT) Delhi.
The Kerala Finance Department said over 600 bar hotels are among the establishments in its list that defaulted on payment of taxes.
The National Financial Reporting Authority (NFRA) has barred Aravind Maiya, former partner at BSR & Co and current CEO of Embassy REIT, from practicing as an auditor for 10 years.
The father of a youngster filed a police complaint on Sunday, alleging that conmen had used his son's PAN card to carry out transactions amounting to crores
In a significant move to curb potential tax evasion, CAG has recommended that the Finance Ministry implement stricter monitoring measures for high-risk taxpayers under the GST Composition Scheme.
The Income Tax Department has issued an urgent advisory, cautioning taxpayers to be vigilant against fraudulent schemes involving fake income tax refund claims.
In a landmark ruling, the Income-Tax Appellate Tribunal (ITAT) Mumbai bench has determined that a Rs 20 lakh gift received by a taxpayer from his non-resident brother, who resides in the UAE, is not subject to taxation.
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