ISLAMABAD: The Supreme Court held that by virtue of subsections (4) and (5) of Section 4 of the Income Tax Ordinance, 2001, ...

Gujarat HC upheld deletion of penalty under Section 13 of the Interest Tax Act as returns were accepted and no concealment or ...

Based on the given case law and the relevant assessment year, before issuing a reassessment notice under section 148, the ...

Taxpayers often misreport foreign assets in Schedule FA, including dormant bank accounts, overseas payroll accounts, 401(k)s, ...

ITAT Mumbai deleted Section 271AA penalty for unreported international transaction citing reasonable cause and set aside ...

Indian taxpayers face new disclosure rules for foreign assets and investments. Global information exchange frameworks ...

Foreign investors who have merely purchased shares in Indian companies without earning any dividend, interest or capital gains are reportedly receiving reassessment notices from the Income Tax ...

Salaried individuals, pensioners, and students must select the appropriate ITR form for AY 2026-2027. Taxpayers not requiring ...

As hard-working families seek ways to shelter their assets from the creeping inheritance tax (IHT) net, one tactic used by the wealthy is on the rise. High earners who’ve alread ...

With the Income Tax Department relying heavily on data analytics and information reported by banks, brokers, registrars, payment platforms, and other institutions, even minor discrepancies can trigger ...

The Federal Government has reopened three Federal Government of Nigeria (FGN) bond issues valued at N1.2 trillion for ...

Merely having a joint home loan should not prejudice the exemption under Section 54F. What is relevant is whether the ...