Understand the income tax implications of Diwali gifts from vendors (electronics, vouchers), whether GST is included in stamp ...

Guy sells land, gets Rs 10 lakh capital gains, files no ITR admitting this income, wins case in ITAT Chennai for this reason ...

The ITAT ruled against mechanically confirming a large addition under Section 69C, stating that tax authorities must genuinely distinguish between procedural discrepancies and fraudulent inflation.

Guy sells land, gets Rs 10 lakh capital gains, files no ITR admitting this income, wins case in ITAT Chennai for this reason ...

One such form that caters to these unique entities is the ITR-5 form. Specifically designed for businesses, firms, LLPs ...

Equity investors can gift shares to children via demat or physical transfer, with no tax for gifts from parents. Future ...

The Black Money Act mandates Indian residents to disclose foreign income and assets, imposes heavy penalties for non-disclosure, and has no time limit, emphasizing transparency and compliance with ...

Inheritance Funding reports the average estate settlement takes 6-12 months, but debts and disputes can extend the process to years. Best practices can aid efficiency.

Mubarak Jama, a Fridley tax preparer, faces 18 felony charges for false tax returns and unpaid taxes, including claims of ...

Understanding set-off and carry forward of losses can help you optimise tax payments and manage your finances better.

Application of the public policy doctrine is not limited to where a criminally convicted person directly pays a fine or ...

William Christopher Womack, owner of InTents Services LLC, admitted to underreporting his earnings from 2019 to 2021 while collecting Social Security payments.