The Bombay High Court has directed the RBI to accept Rs 20 lakh in old demonetised Rs 500 and Rs 1000 currency notes that were confiscated from a group of Kolhapur residents during an Income Tax raid on December 26, 2016
The Reserve Bank of India will shortly issue ₹100 and ₹200 denomination Banknotes in Mahatma Gandhi (New) Series bearing the signature of Shri Sanjay Malhotra, Governor.
Bollywood superstar Shah Rukh Khan has secured a significant legal victory in a long-standing income tax dispute. The Income Tax Appellate Tribunal (ITAT) ruled in his favor, dismissing reassessment proceedings related to his 2011-12 income, specific
In a move to enhance efficiency and ease of compliance, the Income Tax Department has launched a dedicated initiative to simplify income tax rules and forms.
In a significant policy development, Finance Minister Nirmala Sitharaman has hinted at an upcoming reduction in GST rates while remaining non-committal on potential changes to capital gains tax.
The Institute of Chartered Accountants of India (ICAI) has submitted its recommendations to the Lok Sabha select committee currently reviewing the Income Tax Bill, 2025.
India's long-standing struggle between taxpayers and the tax office was supposed to end this year with the introduction of a new income tax law aimed at simplifying compliance and improving relations between the government and taxpayers.
The Examination Department of ICAI has launched the SPMT Portal for the candidates who have completed prescribed learning hours for respective Self-Paced Online Modules.
In its 55th meeting held on December 21, 2024, in Jaisalmer, Rajasthan, the GST Council decided to reconstitute the Group of Ministers (GoM) on Analysis of Revenue from GST with revised Terms of Reference (ToR).
The Income Tax Department has issued an urgent warning to taxpayers, cautioning them against fraudulent calls and messages related to income tax refunds.
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