A father and son sold ancestral land for Rs 13 crore, but the buyer's TDS error led to a tax notice for the father. The ITAT ...

ITAT Hyderabad held that addition towards unexplained money under section 69A of the Income Tax Act is liable to be set aside and matter is remanded back to AO since additional evidences submitted by ...

ITAT Mumbai held that passing of order under section 263 of the Income Tax Act by PCIT without considering submissions filed by the assessee amounts to non-speaking order. Accordingly, matter is ...

There are several possible reasons for the delay. The most common one is incorrect bank account details or wrong IFSC code ...

He deposited money in NRE bank a/c; tax dept issued him notice, he filed case in Gujarat High Court and wins due to this ...

If the return was filed within the due date (16th September for FY 2024–25), the interest on the refund will be calculated ...

Refunds may sometimes get delayed even after the return has been processed, and there are various reasons for this delay.

Moneycontrol's Ask Wallet Wise initiative offers expert advice on matters of personal finance and money. You can email your ...

What is “middle-class”? Although definitions might vary, the Pew Research Center might have an answer. A recent Pew report found that a family of three could be considered in the “middle” of upper and ...

Filing Income Tax Returns (ITR) honestly is not just a legal obligation but also a financial safeguard. The Income Tax Department has become increasingly strict about fraudulent refund claims, and any ...

Three children killed and five injured in Laghari area of Bajaur when explosive material left behind by extremist militants detonated. The children were playing with the explosive devices abandoned by ...

Taxpayers who missed the deadline get another opportunity to comply by filing a belated return. The Income Tax (I-T) ...