lipped from: https://www.taxscan.in/itr-processing-delay-78-year-old-senior-citizen-waits-over-2-years-heres-the-income-tax-depts-response/518967/ A recent post on social media platform X (previously Twitter) has attracted public attention regarding the excessive delay in accepting for processing the
Month: May 2025
***Madras HC Upholds Income Tax Notice against Advocate, rules ITR Mandatory for High-Value Withdrawals
Clipped from: https://www.taxscan.in/itr-filing-mandatory-for-high-value-withdrawals-even-for-poa-holders-madras-hc-upholds-income-tax-notice-against-advocate/518940/ In an important ruling, the Madras High Court has ruled that income tax returns ( ITR ) must be filed when you’re withdrawing
*******section 54 exemption: Selling two homes? New tax ruling says you can still save on capital gains | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/selling-two-homes-new-tax-ruling-says-you-can-still-save-on-capital-gains-125051900886_1.html A recent ITAT ruling offers tax relief for those selling two homes and reinvesting in one, easing capital gain worries, especially for joint
ITR-U form notified to allow taxpayers correct errors in previously filed return; check key changes, penalty and more – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/itr-u-form-notified-to-allow-taxpayers-correct-errors-in-previously-filed-return-check-key-changes-penalty-and-more-3851427/ The Central Board of Direct Taxes (CBDT) has notified a new ITR-U (updated income tax return) form to facilitate taxpayers in rectifying errors
***All ITR Forms notified for AY 2025-26 but you still can’t file your income tax return – Find out why – Money News | The Financial Express
Clipped from: https://www.financialexpress.com/money/all-itr-forms-notified-for-ay-2025-26-but-you-still-cant-file-your-income-tax-return-find-out-why-3850956/ As of May 20, 2025, there is no update on the e-filing portal of the tax department, while forms from ITR-1 to ITR-7
Bhushan Power and Steel case: A test for India’s insolvency regime | Expert Views – Business Standard
Clipped from: https://www.business-standard.com/opinion/columns/bhushan-power-and-steel-case-a-test-for-india-s-insolvency-regime-125051901672_1.html In a major reversal, the Supreme Court ruled that the resolution plan for BPSL, approved by the committee of creditors (CoC) and cleared
Can Bhushan Steel run as a going concern? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/can-bhushan-steel-run-as-a-going-concern/article69594929.ece IBC provides for liquidation as a going concern, but this has met with resistance. This option can be explored now With the company
Unlocking AI’s potential – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/unlocking-ais-potential/article69594953.ece Collaboration among govt, tech firms and academia needed Building a Sovereign AI comes with challenges that require sustained investment, policy clarity, and infrastructure
IBC requires urgent reforms to meet demands across various sectors
Clipped from: https://www.business-standard.com/opinion/columns/ibc-requires-urgent-reforms-to-meet-demands-across-various-sectors-125051800780_1.html Court orders and reforms do not compensate for the legislative clarity needed in IBC for sector-specific insolvency processes The Insolvency and Bankruptcy Board
*******Old or new tax regime? A step-by-step guide to choose what’s best for you | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/old-or-new-tax-regime-a-step-by-step-guide-to-choose-what-s-best-for-you-125051900708_1.html The new regime offers lower tax rates, but does not allow most tax deductions. On the other hand, the old regime permits popular
*****Got a big gift recently? Here’s how it could trigger a tax surprise | Personal Finance – Business Standard
Clipped from: https://www.business-standard.com/finance/personal-finance/got-a-big-gift-recently-here-s-how-it-could-trigger-a-tax-surprise-125051901052_1.html Experts decode how your cash, property, or crypto gifts could quietly land you on the tax radar income tax bill, income tax, tax
MSMEs face credit gap of ₹30 lakh crore, women-owned businesses see highest shortfall: Report – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/msme/msmes-face-credit-gap-of-30-lakh-crore-women-owned-businesses-see-highest-shortfall-report/article69592602.ece The services sector has a higher credit gap of around 27%, while the gap for women-owned MSMEs is even higher at 35% The
When DFS Secretary Nagaraju played the role of King Vikramaditya
Clipped from: https://www.business-standard.com/opinion/columns/when-dfs-secretary-nagaraju-played-the-role-of-king-vikramaditya-125051800756_1.html Customer service and excellence are buzzwords in the Indian financial system now. Both the government and the Reserve Bank of India (RBI) are
IBC requires urgent reforms to meet demands across various sectors | Expert Views – Business Standard
Clipped from: https://www.business-standard.com/opinion/columns/ibc-requires-urgent-reforms-to-meet-demands-across-various-sectors-125051800780_1.html Court orders and reforms do not compensate for the legislative clarity needed in IBC for sector-specific insolvency processes The Insolvency and Bankruptcy Board
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