Income Tax Act

Apex court also allows retrospective application of rule

PAN and Aadhaar card link last date: The Income Tax Department has fixed the last date to link the two cards as March 31, 2023, but the users will have to pay a penalty of Rs 1,000

Before investing in any tax-saving products, investors need to be aware of mis-selling strategies and must do their due diligence

Not every income tax department operation is a 'raid'. Here is what the I-T Act says about 'surveys' and 'searches'

Tax exemption on leave encashment is only available at retirement, resignation, or termination

Tax is to be debited from the account of the customer and cannot be adjusted against the cash withdrawn

The ITAT ruled that there is no requirement under the IT Act for the deduction of tax at source by the partnership firm on remuneration to partners

Any refund you are eligible for won't be processed unless you correct the mistakes in your return

Tax authorities suspect a tax evasion of more than Rs 16,000 crore through under-invoicing by businesses from April 2019 to December 2020

You can claim only if the payout is voluntary and you have documentary proof to this effect

This condition is not satisfied merely by the trip starting and ending in India

Simplifies ITR filing, but can be taxing if actual income is below 8% of turnover

Till July 31, the I-T Department had issued notices in 3,175 cases amounting to Rs 19,222 crore

Gifts from employer become taxable once their value exceeds Rs 5,000; bonus is also taxable

Those with income from business or profession, who have availed deduction on cess/surcharge, must do so by March 31

Court permits Xiongwei Li to travel abroad after providing a FDR of Rs 5 crore

In a disclosure to the stock exchanges, VCPL said it had approached the IT department for clarity on the matter and received a reply from the Additional Commissioner of Income Tax

The section introduced in the Finance Act, 2022 to reduce evasion and widen the tax base has some conflicting provisions apart from other challenges

The Black Money law penalises the concealment of foreign income and imposes criminal liability for attempting to do so

Social security scheme should reach the poor and underprivileged, says official