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Income of thousands, hit with tax notice for crores!

A man earning Rs 15,000 salary got an income tax notice of Rs 33.88 crore, another making Rs 8,500 was slapped with a notice of Rs 3.87 crore and a third Rs 7.79 crore. IMAGE: Kindly note that......

Want To Donate To A Political Party? Read This!

Avoid donating without checking the receipt proforma showing the political party's ECI registration number and PAN. Kindly note this illustration generated using Microsoft Copilot is only posted......

Shinde Sena minister Shirsat gets tax notice over asset jump

Maharashtra Minister for Social Justice Sanjay Shirsat on Thursday said he has received a notice from the Income Tax department seeking an explanation of the increase in his assets between the 2019......

MP ministers to pay their income tax ending 52-year-old rule

The Madhya Pradesh cabinet on Monday approved a bill providing for seizing vehicles involved in the transportation of cows for slaughter and also gave its nod to another proposed legislation under......

Rs 3,500 cr income tax notices: Cong gets SC relief

In a relief for the Congress, the Income Tax department on Monday told the Supreme Court that it will not take any coercive action against the opposition party for tax demand notices of Rs 3,500......

ITR forms under new Income Tax Act to be notified prior to FY28: Govt

The new income tax returns (ITR) form based on the I-T Act, 2025, will be notified prior to 2027-28 fiscal year, Minister of State for Finance Pankaj Chaudhary said on Monday. Illustration:......

Why Income Tax Cases Drag On For Decades

'Repeated adjournments are one of the largest contributors to lengthy litigation cycles.' Kindly note this illustration generated using Microsoft Copilot is only posted for representational......

Budget wishlist: Industry seeks easier tax rules, dispute fixes

With the Union Budget three months away, major industry chambers have submitted to the government proposals on common taxes, seeking simpler compliance and a quicker resolution of tax disputes.......

Tax forms for charitable institutions set for overhaul

As the new Income Tax (I-T) Act, 2025 moves towards implementation from April 1, 2026, the finance ministry is reviewing and simplifying the compliance forms used by charitable institutions.......

25K individuals to get SMS/e-mails from I-T dept for non-disclosure of foreign assets

The Income Tax department will start sending SMS/emails to about 25,000 individuals, who are part of the "high-risk" cases identified for non-disclosure of foreign assets in the income tax returns......

Mammootty, Mohanlal to settle income tax dues

Malayalam actors Mammootty and Mohanlal, whose premises had been raided by the Income Tax department, have admitted to having assets beyond their known sources of income. Both actors have agreed to......

Jawahar Lal Nehru Stadium to be revamped as Sports City

IMAGE: The Jawahar Lal Nehru Stadium in New Delhi, which was built in 1982 for the Asian Games, later hosted the 2010 Commonwealth Games for which it was refurbished at a cost over Rs 900 crore.......