Waiting For Income Tax Refund? Reasons Of Delay, Interest Rules And How To Check Status

Many taxpayers are still awaiting ITR refunds for FY2024-25 due to high-value claim scrutiny, CBDT Nudge campaign, incorrect ...

I-T notice under Section 133(6): Here's what employers should do

If an employee anticipates that their claims cannot be substantiated, they should consider filing an Updated Return (ITR-U) ...
Tax Guru

Section 40A(3) Disallowance Set Aside in Invalid Reassessment

The case examined whether reassessment after four years was valid when the issues were already examined in scrutiny. The ...
Tax Guru

Accrued MACT Interest Cannot Be Taxed When Award Is Under Appeal

Where compensation and interest are deposited under judicial custody due to a pending appeal, no real income accrues. The Tribunal ruled that taxing such MACT interest is impermissible until actual ...

IRS sets a date for start of tax filing season. How to get ready.

Preapare now to be among the first to get a refund by filing your tax return on the first day of tax season. Here's when the ...

Higher interest shocks taxpayers as Income Tax system flags 234B, 234C charges

For income not subject to TDS such as capital gains from shares or mutual funds taxpayers are required pay advance tax in ...