tax compliance

New Delhi, March 31 The new income tax law and other budgetary provisions, including a higher Securities Transaction Tax (STT) on F&O trading and a lower TCS on overseas tour packages and LRS remittances for medical and educational purposes, will come into effect from April 1.Also, the Budget...

New Delhi, March 27 NIIT Learning Systems Ltd (NIIT MTS), a corporate training solutions provider, has received a demand notice of ₹14.93 crore from the Income Tax Department for the assessment year 2023-24, according to a regulatory filing on Friday."The Assessment Unit of the Income Tax...

New Delhi, March 26 The Central Information Commission (CIC) has advised the GST Policy Wing of the Central Board of Excise and Customs to "examine the feasibility of developing appropriate mechanisms, guidelines, or public advisories" to enhance transparency and public awareness in GST...

New Delhi, March 22 Non-banking financial company Tata Capital has received a reassessment order from tax authorities, demanding Rs 413.18 crore for the financial year 2017-18, the firm said.The order, issued by the Deputy Commissioner of Income Tax, Mumbai, under the Income-tax Act and...

In New Delhi, on March 20, Nirmala Sitharaman emphasized that taxpayers are not adversaries and urged income tax officers to simplify compliance for honest taxpayers while leveraging technology to combat willful tax evasion.Addressing the "PRARAMBH 2026: Nationwide Awareness Campaign on the...

Finance Minister Nirmala Sitharaman stated today that the Income Tax Act 2025 reduces errors, disputes, and compliance costs. Speaking at the PRARAMBH 2026, a nationwide campaign on the Income Tax Act, 2025, in New Delhi, the Minister emphasized that the new act is less ambiguous and provides a...

New Delhi, March 20 Finance Minister Nirmala Sitharaman on Friday urged income tax officers to make the process easier for taxpayers and use technology to catch those deliberately evading taxes.Addressing the 'PRARAMBH 2026: Nationwide Awareness Campaign on the Income Tax Act, 2025', the...

New Delhi, March 18 Edtech firm Physicswallah has received a notice from the Income Tax Department demanding Rs 263.34 crore for the assessment year 2023-24.The demand was raised after the Income Tax Department treated the funds received by the company from investors, including funds from...

Bengaluru, March 18 A bill aimed at preventing crimes committed in the name of "honor" and tradition, and to penalize any conduct that interferes with individual freedom of choice in marriage, was tabled in the Karnataka Legislative Assembly on Wednesday.The Karnataka Freedom of Choice in...

New Delhi, March 14 The Income Tax department on Saturday asked taxpayers to ignore any emails they may have received, if any, alerting them about "significant transactions" as part of the Advance Tax e-campaign.In a post on X, the Central Board of Direct Taxes (CBDT) said that some taxpayers...

The Income Tax Department has issued a clarification regarding certain email communications sent to taxpayers as part of the Advance Tax e-Campaign for Assessment Year 2026-27.In a statement, the department informed that some taxpayers had received emails containing inaccurate details...

New Delhi, March 11 The Municipal Corporation of Delhi sealed two commercial properties in the Keshavpuram zone on Wednesday, allegedly for non-payment of property tax dues worth over Rs 1.33 crore, according to an official statement.The civic body took the action as part of its ongoing drive...

New Delhi, March 10 President Droupadi Murmu said on Tuesday that tax officers must exercise the authority entrusted to them with humility, restraint, and an unwavering commitment to constitutional values.Addressing a group of Indian Revenue Service (Income Tax) officers who had called on the...

New Delhi, March 9 The Income-Tax Department has detected under-reporting of sales worth Rs 408 crore after it conducted a nationwide survey of restaurants on charges of tax evasion, the CBDT said on Monday.Following the action of visiting their business premises on Sunday, the taxman is now...

Chandigarh, March 1 Haryana Excise and Taxation Commissioner Vinay Pratap Singh said on Sunday that the state's gross SGST collection continues to grow at a record 22 per cent in 2025-26 compared to the previous fiscal, according to the latest data released by the Union Finance Ministry.He...

Lucknow, February 27 Uttar Pradesh Chief Minister Yogi Adityanath on Friday chaired a high-level meeting to review the updated status of tax and non-tax revenue receipts up to the end of February in the financial year 2025-26.Assessing the targets and achievements presented by the GST, VAT...

New Delhi, February 25 The government has released draft income tax forms that require disclosure of the tenant-landlord relationship to claim I-T deductions, and increased the responsibility of auditors and companies for claiming tax credits on foreign income.The draft forms also propose to...

Chandigarh, February 19 Punjab Finance Minister Harpal Singh Cheema said on Thursday that the government is committed to ensuring a harassment-free and conducive business environment while maintaining strict tax compliance in the state.According to Cheema, the state Taxation Department has...

New Delhi, February 13 IndiGo said on Friday that it has been fined over Rs 1.27 crore related to Goods and Services Tax (GST) input tax credit, and that it will challenge the order.In a filing to the BSE, the airline's parent company, InterGlobe Aviation, said that it has been denied input...

New Delhi, February 12 The Income Tax Department has, for the first time, issued a demand notice of ₹4.62 crore to the Equestrian Federation of India for the assessment year 2024-25 under Section 156 of the Income-Tax Act, 1961, according to official documents.The notice, dated February 9...