The Supreme Court held that appeals involving tax below the prescribed monetary threshold should not be pursued. The question of limitation in reassessment was left open for future ...
Explore key changes in Draft Income-Tax Rules 2026 including employee taxation, transfer pricing, FTC, digital compliance & reporting updates.
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Why does my IRS transcript say “No return filed”? What it really means
Don’t panic if your IRS transcript says “No Return Filed.” Timing issues, processing delays, or the specific transcript type you selected may be the real reason.
When you fail to file a federal income tax return, the IRS immediately adds a failure-to-file penalty. Under current law, ...
New income tax rules for 2026-27 propose redesigned ITR forms with more pre-filled details, aiming for simplification.
The Court held that ITC cannot be mechanically reversed merely because the supplier failed to pay GST. Authorities must prove fraud or collusion before denying ...
The Tribunal upheld penalty for non-filing of return under Explanation 3 but ruled that computation must reduce TDS and self-assessment tax paid before notice. Penalty was reduced from Rs. 8.56 lakh ...
The Tribunal held that where disallowance was accepted and taxes paid during revision under Section 263, penalty under Section 270A was not warranted. The appeal was allowed and penalty ...
The government has informed Parliament that more than 24.64 lakh income tax returns have been pending for processing for over 90 days for the Assessment Year 2025-26.
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