The Allahabad High Court has quashed a magistrate court's order rejecting a woman's plea for her husband's income and property details in a domestic violence case, ordering a fresh review and emphasising the importance of income disclosure in such cases.
From the financial year 2025-2026, the government has introduced a new column in the tax return form for presumptive taxpayers, requiring them to disclose their year-end investments. This requirement was not present last year.
The Ram Janmabhoomi Teerth Kshetra Trust secretary, Champat Rai, has declined to provide financial details, including income, expenditure, and donations, citing an ongoing Special Investigation Team (SIT) probe. This decision follows a complaint to the Prime Minister's Office by BJP leader Rajneesh Singh, seeking transparency on the utilisation of funds for the Ram temple project.
The Delhi High Court has ruled that an individual cannot obtain details of their spouse's income from authorities by filing an application under the Right to Information (RTI) Act.
With more granular reporting and enhanced data matching, mismatches are likely to be identified more quickly.
Taxpayers should consider ITR-U if they omitted income, wrongly claimed deductions or exemptions, or made reporting errors that led to a shortfall in tax payment.
"Taxpayers with income from shares, mutual funds, crypto, ESOPs, or derivatives often incorrectly use ITR-1 instead of ITR-2 or ITR-3."
A key mistake would be continuing to rely on provisions of the Income-Tax Act, 1961, where the new law now applies, and vice versa.
Adjusted for inflation, the earlier scheme would have collected Rs 25,000 crore.
Investors should do thorough due diligence when selecting a platform.
A parliamentary committee has voiced concerns over ongoing examination irregularities despite government measures, recommending the Ministry of Education publish a time-bound roadmap for reforms. The panel also urged a nationwide blacklist of firms involved in exam processes and suggested utilising the National Testing Agency's financial surplus to enhance its capabilities.
The company said Valcambi was the engine driving the group's business, but Valcambi's audited accounts showed revenues that were only a fraction of what the group reported. That raised a major red flag.
Finance Minister Nirmala Sitharaman on Sunday proposed a six-month foreign asset disclosure scheme for small taxpayers like students, tech professionals and relocated NRIs as she presented the Union Budget 2026-27.
The Central Information Commission (CIC) has directed the Income Tax Department to disclose 'generic details of the net taxable income/gross income' of an estranged husband to his wife for pursuing maintenance proceedings. The commission stated that such information cannot be denied on privacy grounds in matrimonial disputes.
The Madras High Court dismissed a petition by actor Vijay challenging an Income Tax department order to pay a Rs 1.50 crore penalty for alleged non-disclosure of income during 2015-16.
Proposal forms are often filled by the agent. Check the form after it is filled.
TVK chief Vijay, a candidate in the Tamil Nadu Assembly elections, has filed a revised election affidavit disclosing two pending FIRs, addressing discrepancies in his initial filing.
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 (ITRs) filed for Assessment Year (AY) 2025-26, sources said.
Election affidavits in Assam have unveiled significant financial disparities among key candidates, with some declaring extensive assets, multiple bank accounts, and numerous vehicles, while others report more modest holdings.
TVK chief Vijay declared assets worth 603.20 crore in his election affidavit, including luxury cars and significant bank deposits, ahead of the Tamil Nadu Assembly polls.
All board members and staff of the Securities and Exchange Board of India (Sebi) will be required to declare their assets, liabilities, trading activities, and relevant relationships at multiple stages - at the time of appointment, annually, upon key events, and at exit. This is part of a series of recommendations by a high-level committee constituted by the markets regulator in a bid to overhaul conflict-of-interest and disclosure rules.
'Every year we import approximately $70 billion worth of gold -- closer to $72 billion in 2025-2026, an all-time record.' 'There is no parallel for this anywhere in the world. And this love for gold will not disappear overnight.'
The FM also said the government has proposed a joint panel of Corporate Affairs Ministry and CBDT for incorporation of income computation and disclosure standards.
This Budget positions India's taxation ideology as not merely a revenue source but as a strategic catalyst for growth, inclusion and long-term confidence.
'Among corporates, about 60% of income is now reported under the new tax regime.'
Regular money talks, setting up joint goals, and regular reviews can help couples stay aligned.
Regular money talks, setting up joint goals, and regular reviews can help couples stay aligned.
The Budget offers a limited-time regularisation window with clear thresholds, defined payments, and immunity from penalty or prosecution.
The declared incomes of registered unrecognised political parties witnessed a 223 per cent spike in 2022-23 and more than 73 per cent of these parties failed to publicly disclose their financial records, according to poll rights body the Association for Democratic Reforms (ADR).
The Delhi High Court has stated that the amount of interim maintenance for a spouse cannot be determined with mathematical precision, while hearing a case to enhance a woman's interim maintenance.
Form ITR-B allows the assessee to claim TDS (tax deducted at source) and TCS (tax collected at source) credit against undisclosed income.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
The business value of the league, popularly called the IPL, surged to a record $18.5 billion last year, U.S.-based investment bank Houlihan Lokey says.
Enforcement agencies have highlighted risks related to money laundering and terror financing, prompting closer scrutiny of crypto platforms operating in India.
India's high cost of capital due to relatively shallow corporate bond markets, limited institutional investor depth, sovereign risk premia, and regulatory restrictions on capital flows, is a constraint on private investment and long-run growth, the Economic Survey, authored by Chief Economic Advisor (CEA) V Anantha Nageswaran, said.
The Mumbai Bench of the National Company Law Tribunal (NCLT) on Tuesday gave its approval to Vedanta Limited's demerger proposal, clearing the way for the group to reorganise its operations into five distinct, sector-specific entities.
Filing a belated return is far better than not filing at all.
Errors in filing income-tax returns frequently lead to scrutiny notices, additional liabilities, or delayed refunds.
Younger customers should opt for increasing cover as their financial commitments are likely to rise in the future.
A report by the Association for Democratic Reforms (ADR) reveals that a significant number of registered unrecognised political parties in Bihar have not made their mandatory financial disclosures public for 2023-24.
