Income Tax News
Supreme Court Disposes 573 Direct Tax Cases Following Revised Monetary Appeal Limits
25 September 2024 at 08:59Hon'ble Supreme Court disposed off 573 direct tax cases in view of the revised monetary limit of filing of appeals
NCLAT Dismisses Rs 6.10 Crore Tax Claim Against Reliance Communications Post Insolvency Process
24 September 2024 at 08:55The NCLAT has dismissed a Rs 6.10 crore tax claim against Reliance Communications (RCom) made by the tax department, citing the claim was filed after the initiation of the insolvency resolution process.
Netflix India Under Investigation for Alleged Visa Violations, Tax Evasion and Racial Discrimination
24 September 2024 at 08:53Netflix India is facing an investigation by the Indian government over alleged visa violations, tax evasion, and racial discrimination. The probe adds to growing scrutiny of the streaming giant in its crucial market.
Vivad Se Vishwas 2.0: Lower Settlement for Declarations Filed by 31st December
23 September 2024 at 09:07The Income Tax Department has officially notified the Vivad Se Vishwas Scheme 2.0, aimed at providing a mechanism for settling pending income tax disputes with reduced settlement amounts for those who file declarations before December 31, 2024.
Loss-Making MNCs Must Pay Tax on India Setups: Delhi HC
23 September 2024 at 09:02In a significant ruling that could reshape tax obligations for MNCs in India, the Delhi High Court has mandated that MNCs with a presence in the country, whether through liaison offices, subsidiaries, or fixed setups, must pay taxes
CBDT Notifies Rules and Forms for Direct Tax Vivad Se Vishwas Scheme, 2024
21 September 2024 at 07:00The Central Government has officially announced the Direct Tax Vivad se Vishwas Rules, 2024, through G.S.R. 584(E) in alignment with the Finance (No. 2) Act, 2024.
Direct Tax Vivad Se Vishwas Scheme 2024 Set to Launch on 1st October 2024
20 September 2024 at 09:22The Finance Ministry has announced the launch of the second edition of the Direct Tax Vivad Se Vishwas Scheme 2024 (VSV 2.0), effective October 1, 2024.
Zydus Wellness Subsidiary Hit with Rs 10.51 Million Tax Demand in Bihar, Stock Prices Decline
20 September 2024 at 09:18Zydus Wellness Limited announced that its wholly-owned subsidiary, Zydus Wellness Products Limited (ZWPL), has received a tax demand of ₹10.51 million from Bihar state tax authorities.
Finance Ministry Fast-Tracks Income Tax Act Review, Targets January 2025 Deadline
20 September 2024 at 09:12The Finance Ministry is accelerating efforts to review and simplify the Income Tax Act, 1961, with a target completion date of January 2025, ahead of the Union Budget in February, sources familiar with the matter revealed.
Indian Overseas Bank Receives Rs 123.87 Crore Income Tax Refund for AY 2021-22
20 September 2024 at 09:08In a significant financial development, public sector lender Indian Overseas Bank (IOB) announced on Thursday, September 19, that it has received an order from the Income Tax Department confirming a refund of ₹123.87 crore.
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