What is Income tax

Preserve old valuation and inheritance records; document family lockers and explain the source of each holding

Rajasthan's State Tax Department detected potential tax liability of ₹22.79 crore at over 25 establishments during its crackdown on suspected GST evasion and fraudulent ITC claims.

The court said export quota premium could not be treated as export income because the transaction did not involve receipt of foreign exchange

Net direct tax collections rose 13% to ₹12.12 trillion, with corporate tax and STT driving growth despite a sharp rise in refunds

The dispute concerns whether tax reassessment notices can be issued by jurisdictional assessing officers or must be routed through the faceless assessment mechanism

India's tax system has come a long way since 1991, but simplifying GST, clearing tax disputes and improving taxpayer services remain key priorities

The Delhi High Court found procedural deficiencies and lack of reasoning in the ITAT's handling of seven appeals, and ordered fresh adjudication by another bench

The salary is largely fixed once your deductions are set, but the freelance side is where the planning happens, presumptive taxation keeps it simple and light.

More than 78 million income tax returns were filed for AY 2026-27 by August 31, including over 59 million ITR-1 and ITR-2 returns filed by July 31

The department is working with taxpayers and other stakeholders to reduce ambiguity and improve consistency as cross-border transactions and business structures become more complex

Entities located in districts along India's land borders and remitting significant amounts of money abroad have also been covered in the exercise

The government plans to widen tax incentives for offshore funds, electronics, data centres and diamond trading to attract long-term foreign investment and boost ease of doing business

The administration plans to table the Income Tax Amendment Bill in the lower house of Parliament as early as next week to replace the ordinance notified early June

Tax experts say one of the biggest misconceptions among taxpayers is that the income-tax department watches every small UPI transaction in real time

Legal heirs must bear in mind that the income tax return for the year of death must be filed and tax, if due, must be paid

The government told the Lok Sabha that the number of taxpayers reporting gross total income of ₹100 crore or more has quadrupled since assessment year 2021-22

She also went public with her disappointment at the "laidback" nature of government departments, which leads to illegal occupation or encroachments on government lands

Allahabad High Court said tax authorities cannot make an invalid notice valid by later adding a legal heir, and must instead issue fresh notice directly to legal representative within prescribed time

The court said the issue requires detailed examination and directed the Income Tax Department not to process judges' returns under the disputed arrangement

Contractual penalties imposed on Infosys for delay in IEC project, outages