News

A tax order issued by the Bengaluru bench of ITAT was apparently withdrawn after it was discovered that the order was based on ChatGPT research on non-existent cases.

ITAT Bangalore issued order based on ChatGPT research on cases that don’t exist; Later withdraw the Order

Articles

Most of the taxpayers are getting income tax demand notices because their Section 87A rebate claims on special rate income

Section 87A Rebate Claimed on Capital Gains? What to Do If You Get a Tax Demand Notice?

The President of AIMIM made a representation before the Select Committee Chairman to include the cost accountants in the definition of 'Accountants' under Income Tax Bill 2025.

Inclusion of Cost Accountants in the definition of 'Accountants' under Income Tax Bill 2025

ICAI has informed CA of increasing obligations in audit and compliance reporting, as a new format for maintaining balance sheets for non-corporate entities is slated to take effect on April 1, 2025.

ICAI introduces New Balance Sheet Format for Non-Corporate Entities; Implementation from April 1st

IRDAI has launched a new payment system, known as Bima-ASBA. This payment system allows policyholders to save money for their insurance premiums.

IRDAI Introduces Bima-ASBA; Simplified Insurance Premium Payments with UPI

Tripura Chief Minister Manik Saha said the state is using artificial intelligence (AI) to detect tax evaders and will take tough action against them.

Tripura implements AI to Identify Tax Evaders and Curb GST Evasion, says CM Manik Saha

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