BCCI Tells Devajit Saikia It Pays Rs 3,000 Crore Tax Under National Sports Governance Act
The BCCI says it pays about Rs 3,000 crore in taxes each year and does not rely on…
Can You Send ₹25 Lakh? Green Card-Holder Gifts Face FEMA Regulations
A cross-border family gift between India and the United States may be tax-free in India but still trigger…
IBC Moratorium Halts Tax Recovery but Corporate Insolvency Resolution Process Allows Assessment Until Income-Tax Department Claim Extinguished by Resolution Plan
NCLT admission starts the insolvency moratorium and limits tax recovery against the company. The Income-tax Department must file…
Builder Allotment vs Registration: Which Date Controls Capital-Gains Exemption Under Sections 54 and 54F?
Builder allotment can help establish rights, but it does not automatically qualify a taxpayer for capital-gains exemption. Under…
Can Deleted Income-Tax Penalty Under Section 275 Revive After Quantum Addition Restored?
A restored quantum addition can revive penalty review, but not the old demand automatically. The tax authority must…
TDS Credit Denied Under Income-Tax Act, 2025? File Form No. 102 and Check Your Annual Information Statement
TDS credit under the Income-tax Act, 2025 depends on the cause of the mismatch. Form No. 102 applies…
Tax Reassessment Quashed: ₹50 Lakh Claim Cannot Extend Limitation Period
The Chandigarh ITAT struck down a reassessment after the tax department failed to justify the ₹50 lakh threshold…
CBDT Lets DGIT (systems) Share Income Tax Data with Petroleum Ministry
CBDT has approved a restricted verification channel for the petroleum ministry. The DGIT (Systems) will provide only Yes,…
Section 147A Struck Down: JAO Reassessment Notices Face Constitutional Setback
The Punjab and Haryana High Court struck down Section 147A and cancelled reassessment notices issued without faceless randomized…
IRS Notice IR-2026-110 Extends Tax Relief Replacement Period for Drought-Hit Farmers
The IRS extended drought tax relief for qualifying livestock producers under IR-2026-110. Eligible farmers and ranchers may now…
IRS 2027 Tax Brackets: How Inflation Adjustment Affects Your 37% Tax Rate
The 2027 federal top tax bracket is projected to start above $661,375 for single filers and $793,650 for…
Onlyfans Creator Pleads Guilty to Tax Evasion, Owes $1.1M in Restitution
Seathra Zmeena Orr pleaded guilty to tax evasion in Hartford after prosecutors said she hid more than $3…
Netherlands Plans Capital Gains Tax Shift to Box 3 System Based on Actual Returns
The Netherlands is preparing a shift from Box 3 deemed returns to taxation of actual gains, but no…
Treasury Taps Katrina Di Marco to Steer May Federal Budget Tax Changes
Katrina Di Marco has taken over Treasury’s revenue group from Diane Brown. She will oversee work on capital…