News

LG Electronics India Limited has received a draft tax assessment order proposing Rs 5,728 million in disallowances and plans to challenge it before the Dispute Resolution Panel.

LG Electronics India Faces Rs 5,728 Million Tax Disallowance, Moves to Dispute Resolution Panel

Judgement

The Tribunal held that the invocation of action under section 263 is not permissible for cases where the ITR was filed under section 44AD.

PCIT Cannot Invoke Section 263 if ITR Was Filed Under Section 44AD: ITAT

The Income Tax Department released FAQs on the new Income-tax Act, 2025, assuring taxpayers that it simplifies the law without increasing taxes.

Income Tax Portal 2.0 to Manage ITRs of both New and Old Law

Articles

Form 130 is an important tax document showing salary, TDS, and income details. It helps in filing income tax returns and allows employees to claim tax credit easily and accurately.

Form 16 Will Be Renamed as Form 130 from April 1: Know Key Details

The company does not expect any major financial impact. It believes the order contains mistakes and is confident about fixing the issue through legal remedies.

Kokuyo Camlin Receives Rs 162.97 Crore Income Tax Demand

The Income Tax Department imposed a Rs 4,009 crore tax on undisclosed foreign assets till December 2025, continuing strict action.

Explore Our Blogs

Stay updated with the latest insights, tips, and industry trends from our experts

LG Electronics India Faces Rs 5,728 Million Tax Disallowance, Moves to Dispute Resolution Panel

PCIT Cannot Invoke Section 263 if ITR Was Filed Under Section 44AD: ITAT

Income Tax Portal 2.0 to Manage ITRs of both New and Old Law

Form 16 Will Be Renamed as Form 130 from April 1: Know Key Details

Kokuyo Camlin Receives Rs 162.97 Crore Income Tax Demand

Government Steps Up Efforts To Track Hidden Foreign Income