Judgement

ITAT cancelled the penalty because the assessing officer did not specify the limb in his penalty show cause notices issued to the assessee.

Income Tax: ITAT Set Asides Penalty of 40.94 Cr for Vague Show Cause Notice

Articles

The Ministry of Finance is expected to amend the Income Tax Bill 2025 to restore Section 80M benefits for 22% tax regime companies.

Income Tax Bill 2025: FinMin may restore dividend deductions for 22% corporate tax regime

Ongoing GST reforms aim to simplify the tax structure by ensuring consistency, fairness, and easier compliance for businesses and consumers.

GST Reforms Underway: Towards Consistency, Fairness, and Ease of Compliance

The General Insurance Corporation of India (GIC Re), India's national reinsurer, has recently informed the stock exchanges (NSE and BSE) regarding receipt of VAT demand

General Insurance Corporation Faces VAT Demand from Dubai Tax Authority

News

ICAI makes prescribed formats mandatory for non-corporate entities’ financial statements; CAs must now follow updated guidance for compliance.

Format for Non-Corporate entities mandatory or not? Netizens discuss

The Income Tax Department has not issued bulk scrutiny notices to small taxpayers. The rumor was being spread about the said notice on social media platforms.

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Income Tax: ITAT Set Asides Penalty of 40.94 Cr for Vague Show Cause Notice

Income Tax Bill 2025: FinMin may restore dividend deductions for 22% corporate tax regime

GST Reforms Underway: Towards Consistency, Fairness, and Ease of Compliance

General Insurance Corporation Faces VAT Demand from Dubai Tax Authority

Format for Non-Corporate entities mandatory or not? Netizens discuss

Income Tax Dept Breaks Silence: No Mass Scrutiny for Small Taxpayers