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Clipped from: https://economictimes.indiatimes.com/wealth/tax/self-reporting-of-unexplained-income-in-itr-to-save-50-a-permanent-voluntary-disclosure-of-income-scheme-vdis-in-budget-2026/articleshow/128208221.cms Listen to this article in summarized format Budget 2026 quietly reshapes the taxation of unexplained income. By reducing the tax rate from 60% to 30% under

Clipped from: https://economictimes.indiatimes.com/wealth/tax/now-request-for-nil-or-lower-tds-deduction-for-property-and-other-transactions-via-this-new-form-as-per-income-tax-act-2025-see-whats-changed/articleshow/128190228.cms Listen to this article in summarized format To get relief from TDS deduction, you need to submit an application to the Income Tax Department using

Clipped from: https://www.taxscan.in/top-stories/icai-issues-audit-guidance-on-new-labour-codes-1442883?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412899 The note highlights wage changes, wider worker coverage, gratuity updates, and compliance checks to manage audit risks in this transition The four Labour

Clipped from: https://www.taxscan.in/top-stories/supreme-court-upholds-gujarat-hc-ruling-quashing-mechanical-income-tax-reopening-notices-based-on-national-shroff-angadiya-search-inputs-read-judgement-1442879?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412908 The Supreme Court upheld the Gujarat High Court order quashing mechanical reopening notices issued under Section 148 based on National Shroff search inputs.

Clipped from: https://www.taxscan.in/top-stories/how-nri-income-will-be-determined-key-takeaways-from-income-tax-draft-rules-1442865?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412911 The trigger for estimation arises where the AO forms an opinion that the actual amount of income accruing or arising to a non-resident

Clipped from: https://www.taxscan.in/top-stories/income-tax-addition-solely-based-on-pendrive-data-seized-from-third-party-not-sustainable-itat-quashes-order-read-order-1442858?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412895 The materials that were retrieved from third parties are to be cross-examined before additions are made to income tax. ITAT deletes addition in

Clipped from: https://www.taxscan.in/top-stories/taxpayer-not-well-versed-with-income-tax-proceedings-itat-gives-final-opportunity-directs-compliance-read-order-1442855?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412872 ITAT offers one final opportunity to assessee for the submission of details. The cash deposits amounting close to INR 1.5 crore was treated

Clipped from: https://www.taxscan.in/top-stories/reassessment-notices-beyond-six-year-limitation-invalid-supreme-court-upholds-delhi-hc-1442853?TRN300=cVkGzlcuCaDRKvfSyvbMCBwGaSzuGDMbEFcYVBqHWjhMvDFcIMCbZIdMbMSAcx&LKD333=3412906 Reassessment notice extended ten‑year period under Section 149 cannot revive assessments already barred under the earlier six‑year regime. Reassessment notice extended ten‑year period under

Clipped from: https://taxguru.in/income-tax/notices-u-s-148-issued-jao-invalid-due-mandatory-faceless-procedure-u-s-151a.html Exotic Innovations Private Limited Vs DCIT (Karnataka High Court) Conclusion: Once the Central Government notified the Faceless Scheme for reassessment (effective March 29, 2022),

Clipped from: https://www.thehindubusinessline.com/economy/from-balance-sheets-to-inner-balance-art-of-living-to-help-cas-ease-audit-stress/article70616027.ece The tie-up, inked by ICAI’s Committee on Promoting Work-Life Balance, is aimed at “overall personality development” and the infusion of values, ethics and

Clipped from: https://www.thehindubusinessline.com/opinion/a-win-win-trade-deal-with-us/article70616598.ece It will make our exports more competitive, and deliver gains to labour-intensive manufacturing units The India-US trade agreement significantly enhances market access, lowers tariffs,

Clipped from: https://www.businesstoday.in/personal-finance/tax/story/draft-income-tax-rules-2026-pan-exemptions-cash-transactions-company-car-tax-key-benefits-to-know-515443-2026-02-10 The Draft Income Tax Rules, 2026 propose sweeping changes to PAN-quoting norms, perquisite valuations and reporting requirements across financial, property and digital asset

Clipped from: https://www.financialexpress.com/business/news/just-two-hours-new-it-rules-trim-deepfake-takedown-time/4138238/ Platforms are additionally required to communicate their rules, privacy policies and the consequences of non-compliance – such as account suspension, termination or reporting

Clipped from: https://www.financialexpress.com/money/tax-refunds-delay-nearly-24-lakh-itrs-pending-for-processing-for-more-than-90-days-govt-explains-why-4137937/ Nearly 24.6 lakh income tax returns are pending for processing for over 90 days, the government told Parliament, citing technology-driven risk analysis and

Clipped from: https://www.financialexpress.com/money/new-income-tax-rules-explained-how-fewer-forms-tax-free-perks-and-higher-hra-benefit-taxpayers-4137980/ Central Board of Direct Taxes has released draft Income-tax Rules and Forms to simplify compliance under the Income-tax Act, 2025, cutting paperwork, raising

Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/lost-gold-worth-rs-18-lakh-on-a-scooter-won-over-rs-43-lakh-compensation-after-12-years-how-a-husband-fought-with-the-insurer/articleshow/128114382.cms Listen to this article in summarized format On January 7, 2010, around 1.30 PM, Mr. Sharma was riding his scooter to Narela, carrying

Clipped from: https://economictimes.indiatimes.com/wealth/legal/will/section-87a-tax-rebate-allowed-on-both-long-and-short-term-capital-gain-income-from-equity-for-ay-2024-25-by-itat-indore-know-why/articleshow/128144699.cms Listen to this article in summarized format On January 16, 2026, the Income Tax Appellate tribunal (ITAT) Indore granted a full Section 87A tax rebate on both

Clipped from: https://economictimes.indiatimes.com/wealth/tax/got-income-tax-notice-or-facing-income-tax-scrutiny-budget-2026-offers-relief-through-revised-updated-itr-and-immunity-from-prosecution/articleshow/128137805.cms Listen to this article in summarized format For many salaried workers and other taxpayers, the last year has been filled with a flood