Tax Assessment

Japan's Financial Services Agency in coming months will assess whether the current approach of regulating crypto under the payments act is adequate, an official at the agency said, asking not to be identified in line with the institution’s rules.

As the July 31 deadline for filing the Income Tax Return (ITR) for the assessment year 2024-25 approaches, technical glitches in the income tax portal developed by Infosys have led to frustration among chartered accountants.

The country's largest two-wheeler maker Hero MotoCorp on Thursday said it has received demand notices from the Income Tax department for around Rs 605 crore, including interest, for six assessment years.

Infosys has received a tax demand of Rs 341 crore for assessment year 2020-21 from the Income Tax Department, the IT services company said on Monday adding it is evaluating filing an appeal against the said order.

Infosys expects a refund of Rs 6,329 crore from the Income Tax Department, the country's second largest IT services company said. It also informed the stock exchanges about tax demand to the tune of Rs 2,763 crore, citing various assessment orders.

Income tax notices to the Indian National Congress were issued back in March 2023 and the assessment proceedings demanded for those seven years, as per law, were set to get time barred on March 31, 2024, according to sources.

The Delhi High Court today rejected petitions by the Congress challenging the initiation of tax reassessment proceedings against it for a period of four years by tax authorities.

He acknowledged that closing of tax assessment would strengthen his defence in his ongoing legal cases.

The Gandhis had opposed the transfer of their cases to the Central Circle on several grounds including that they have nothing to do with the Sanjay Bhandari group's cases.

The Bombay High Court has directed the Income Tax department to refund Rs 1,128 crore to Vodafone Idea Limited paid by the telecom operator in taxes for the assessment year 2016-2017.

A centralised assessment may be required if there are cross transactions between individuals, the Supreme Court said on Tuesday while hearing the petitions filed by Congress leaders Sonia Gandhi, Rahul Gandhi and Priyanka Gandhi Vadra.

A government-school teacher in Madhya Pradesh has received a tax notice of Rs 7 crore. What has stunned her family even more than the amount, however, is that the teacher had died in 2013 and the notice pertains to the assessment year 2017-18.

ITR Filing Last Date Today: The deadline to file the income tax returns (ITR) for the assessment year 2023-24 ends today. As per the latest update, over 6 crore ITRs had been filed till 6:30 PM on July 30.

The deadline to file ITR (Income Tax Return) without any late fee is approaching closer. The last date to file ITR for assessment year 2023-24 is July 31. So far, the Income Tax Department has not announced any extension in the last date for filing ITR. One can easily file ITR online using a few simple steps. Once the ITR is filed, all taxpayers a...

ITR (Income Tax Return) filing deadline for the assessment year 2023-24 is July 31. With the last date just around the corner, a lot of taxpayers are rushing to file their returns. The Income Tax department has not announced any extension on the last date for filing the ITR, hence leaving taxpayers with less than five days to complete the process.

Japan's Financial Services Agency in coming months will assess whether the current approach of regulating crypto under the payments act is adequate, an official at the agency said, asking not to be identified in line with the institution’s rules.

As the July 31 deadline for filing the Income Tax Return (ITR) for the assessment year 2024-25 approaches, technical glitches in the income tax portal developed by Infosys have led to frustration among chartered accountants.

The country's largest two-wheeler maker Hero MotoCorp on Thursday said it has received demand notices from the Income Tax department for around Rs 605 crore, including interest, for six assessment years.

Infosys has received a tax demand of Rs 341 crore for assessment year 2020-21 from the Income Tax Department, the IT services company said on Monday adding it is evaluating filing an appeal against the said order.

Infosys expects a refund of Rs 6,329 crore from the Income Tax Department, the country's second largest IT services company said. It also informed the stock exchanges about tax demand to the tune of Rs 2,763 crore, citing various assessment orders.

Income tax notices to the Indian National Congress were issued back in March 2023 and the assessment proceedings demanded for those seven years, as per law, were set to get time barred on March 31, 2024, according to sources.

The Delhi High Court today rejected petitions by the Congress challenging the initiation of tax reassessment proceedings against it for a period of four years by tax authorities.

He acknowledged that closing of tax assessment would strengthen his defence in his ongoing legal cases.

The Gandhis had opposed the transfer of their cases to the Central Circle on several grounds including that they have nothing to do with the Sanjay Bhandari group's cases.

The Bombay High Court has directed the Income Tax department to refund Rs 1,128 crore to Vodafone Idea Limited paid by the telecom operator in taxes for the assessment year 2016-2017.

A centralised assessment may be required if there are cross transactions between individuals, the Supreme Court said on Tuesday while hearing the petitions filed by Congress leaders Sonia Gandhi, Rahul Gandhi and Priyanka Gandhi Vadra.

A government-school teacher in Madhya Pradesh has received a tax notice of Rs 7 crore. What has stunned her family even more than the amount, however, is that the teacher had died in 2013 and the notice pertains to the assessment year 2017-18.

ITR Filing Last Date Today: The deadline to file the income tax returns (ITR) for the assessment year 2023-24 ends today. As per the latest update, over 6 crore ITRs had been filed till 6:30 PM on July 30.

The deadline to file ITR (Income Tax Return) without any late fee is approaching closer. The last date to file ITR for assessment year 2023-24 is July 31. So far, the Income Tax Department has not announced any extension in the last date for filing ITR. One can easily file ITR online using a few simple steps. Once the ITR is filed, all taxpayers a...

ITR (Income Tax Return) filing deadline for the assessment year 2023-24 is July 31. With the last date just around the corner, a lot of taxpayers are rushing to file their returns. The Income Tax department has not announced any extension on the last date for filing the ITR, hence leaving taxpayers with less than five days to complete the process.