Claim Missed Tax Deductions in Belated ITR by Dec 31
Missed declaring deductions to your employer? You can still claim them in your belated ITR until Dec 31. Experts explain the process, key sections, and pitfalls to avoid for a smooth refund.
Category : GST & Taxation
IT Dept on Stuck Refunds: File Revised Returns by Dec 31
Facing complaints over stuck refunds, the Income Tax Department cites high ineligible claims. Taxpayers urged to file revised ITRs by December 31, 2025, as scrutiny focuses on high-value deductions.
3rd National Indirect Tax Moot Court Competition Concludes
The 3rd National Indirect Tax Moot Court Competition 2024, organized by the Chamber of Tax Consultants, concluded successfully in Delhi. The event aimed to hone the skills of future indirect tax professionals. Read more about the winners and key insights.
IT Dept Pauses Refunds, Sends Alerts Over ITR Mismatches
Income Tax Department sends SMS/email alerts, pausing refunds due to discrepancies in ITR filings. Taxpayers express frustration over vague communication. Revised return deadline is Dec 31, 2025.
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ITR Revision Window Closes Dec 31, 2025: Key Facts
Indian taxpayers must file revised or belated Income Tax Returns by December 31, 2025 for FY 2024-25. Experts explain the rules and post-deadline options like Updated Returns.
Disclose Foreign Assets in Revised ITR by Dec 31
Indian taxpayers can still disclose foreign income & assets by filing a revised ITR before December 31. Learn about Schedule FA, FSI, and how to avoid heavy penalties under the Black Money Act.
PIB Debunks Misleading Claim on IT Dept's Digital Access
PIB clarifies new Income Tax Bill 2025 powers. Access to emails & social media is limited to search operations for tax evasion probes. Honest taxpayers unaffected.
PAN-Aadhaar linking deadline nears: Act before Dec 31
The final date to link PAN with Aadhaar is 31 December 2025. Failure will make PAN inoperative, causing ITR issues, higher TDS, and banking restrictions. Act now to avoid penalties.
GST 2.0 Played Key Role in Supporting Economic Growth in 2025
A new report highlights how the GST 2.0 reforms were pivotal in driving domestic consumption and economic expansion in 2025. Discover the key findings and future roadmap.
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PAN-Aadhaar Link Deadline: Dec 31, 2025
Last date to link PAN with Aadhaar is Dec 31, 2025. Unlinked PANs become inoperative from Jan 1, 2026, leading to higher TDS & frozen refunds. Follow our step-by-step guide.
Nagpur GST Fraud: ₹25 Lakh Scam via Fake ITC Claims
Nagpur police book three for allegedly defrauding govt of ₹25 lakh via fraudulent GST input tax credit claims using fake documents. Details of the case under BNS & MGST Act inside.
24x7 Tax Control Room Set Up for Mumbai Civic Polls
Income Tax Dept establishes a 24/7 control room in Mumbai to curb money misuse in Maharashtra civic elections. Citizens can report unaccounted cash or inducements via WhatsApp, SMS, or email.
Kerala HC: Centre's service tax on amusement parks unconstitutional
The Kerala High Court has declared the Centre's service tax on amusement facilities unconstitutional, ruling it encroaches on the state's taxation powers. Read the full legal analysis.
Kerala HC: Centre's service tax on amusement parks unconstitutional
Kerala High Court rules Centre cannot levy service tax on amusement park entry, calling it unconstitutional. The court says only states can tax entertainment. Read the full details.
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IT Dept Asks MNCs to Alert Staff on Foreign Assets
Income Tax department contacts multinationals, urging them to warn India-based employees to disclose foreign income & assets by year-end or face ₹10 lakh penalty under Black Money Act.
Verify GST Number: A Step-by-Step Guide to Avoid Scams
Learn how to verify a GSTIN in India to prevent fraudulent payments and loss of Input Tax Credit. Follow our simple guide using official government portals.
Thane: 4 Booked for Rs 22 Crore GST Fraud Using Fake Firms
Thane police register a case against four individuals for allegedly creating eight fake GST firms and fraudulently claiming over Rs 22 crore in input tax credit. No arrests made yet. Details inside.
Foreign Asset Reporting Lapses Lead to Heavy Penalties Under Black Money Act
Inadvertent failures to disclose foreign assets like ESOPs or old insurance policies can lead to severe penalties under the Black Money Act, as seen in recent cases from Mumbai and Baroda. Learn how to stay compliant.
Tax Bodies Seek GST Annual Return Deadline Extension to March 2026
Tax professionals in Madhya Pradesh seek a 3-month extension for GSTR-9 & 9C filing for FY 2024-25, citing late form release and technical glitches. Read why they argue it's crucial for compliance.
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UltraTech Cement to Contest Rs 782 Crore GST Demand Notice
UltraTech Cement receives a Rs 782.2 crore GST demand notice for 2018-2023 period. The company plans to legally challenge the order. Read the full details.
CBDT Clarifies Section 80G Donation Rules via New FAQs
Income Tax Department issues detailed FAQs on claiming 80G deductions. Learn the verification process, eligible donations, and key conditions for taxpayers in the old regime.
Corporate Tax Growth Hits 7.5%, Overtakes Personal Tax
India's corporate tax collections grew 7.5% to Rs 9.94 lakh crore by mid-December, surpassing personal income tax growth. Net direct tax kitty crosses Rs 17 lakh crore. Read the full analysis.
Sonipat Trader Held in Rs 118 Cr GST Evasion Case
CGST Rohtak arrests Sonipat pharma trader Pawel Garg for alleged GST evasion of Rs 21.30 crore on sales of Rs 118.49 crore. Raid uncovers unaccounted transactions. Read the full details.
Tax Alerts on Foreign Assets Sent to Thousands, NRIs Affected
Income Tax Department issues bulk alerts via NUDGE 2.0, asking taxpayers to disclose foreign assets by Dec 31. Many NRIs and frequent travelers received notices. Experts advise prompt revision of ITR.
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How Foreign RSUs are Taxed for Indian Residents
Indian residents selling US RSUs face 12.5% long-term capital gains tax. Learn the rules for reporting foreign assets and handling FAIU summons for NRIs.
NRI Tax Guide: Gifting Money & Selling Property
Returned NRI wants to gift money from foreign account to daughter abroad. Also, an NRI selling Dubai property seeks clarity on TDS certificate. Expert explains tax implications.
ITR Refund Delay: Reasons for No Interest & Status Check
Still waiting for your ITR refund? Learn why delays happen, when you won't get 6% interest, and how to check your refund status online. Essential guide for Indian taxpayers.
Delhi HC Asks Customs to Respond to IndiGo's Rs 900 Cr Plea
Delhi High Court directs customs authorities to respond to IndiGo's petition seeking a refund of over Rs 900 crore in import duty. The case involves aircraft engines and parts. Read the latest developments.
Direct Tax Collection at ₹17 Trillion, Growth Slows to 8%
India's net direct tax revenue rose 8% to ₹17 trillion in April-December, missing the 13% target. Personal income tax growth slowed due to new slab rates. Can the government meet its full-year goal?
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Net Direct Tax Collection Grows 8% to Rs 17.04 Lakh Crore
India's net direct tax collection for FY25 grows 8% to Rs 17.04 lakh crore. Gross collections surge 24% to Rs 19.45 lakh crore, while refunds slow. Read the full analysis.
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