Summary: The Indian government has introduced amendments to Section 143(1) of the Income Tax Act, 1961, as part of its efforts to combat tax evasion and fraud. Section 143(1) governs the processing of ...

The Trust challenged the surcharge imposition, arguing that under Section 2 (29C) and the First Schedule introduced through the Finance Act, 2021, surcharge is applicable only when the total income ...

According to tax experts, these notices sent by the department have been issued under Section 143 (1) of the Income Tax Act.

If you file Income Tax Return (ITR) every year, then you will need to be more cautious than before while filing it next time. The government has made a big change in the Finance Bill 2025, which will ...

Many NRIs using Double Taxation Avoidance Agreement (DTAA) are getting Income Tax notices for claiming benefit of lower or nil rate of tax, know how to get out of this problem ...

Union Finance Minister Nirmala Sitharaman has proposed a revision to Section 143(1) of the Income Tax Act, 1961, with the Income Tax Department also releasing FAQs regarding this change.

T he Income Tax Department has introduced a crucial amendment under Section 143(1) of the Income Tax Act, 1961. This change, proposed during the passage of the Finance Bill 2025 by Finance ...

The Mumbai Bench of the Income Tax Appellate Tribunal has granted relief to the Indian Hotels Company Ltd, which owns the Taj ...

The assessment proposes certain additions/disallowances with respect to the company's returned income, resulting in a demand of ₹2,62,08,81,870 (approximately ₹262 crore), inclusive of interest.

Kathy Schmaltz (R - 46th District), would also amend the Income Tax Act. Republicans say it would save an average of $143 per year per ... the fiscal year from Oct. 1 to Sept.