ITAT Delhi upheld deletion of ₹60 lakh addition after finding that the assessee furnished confirmations, audited financials, bank statements, and Section 133(6) replies. In absence of direct evidence ...

ITAT Delhi ruled that non-response by suppliers to Section 133(6) notices alone cannot justify treating purchases as bogus. As the assessee furnished bills, bank records, and GST details and sales ...

Income Tax Department has sped up the process of crediting ITR refunds to taxpayers accounts. These also include high-value refunds. Taxpayers can check the status of their refunds through the ...

What’s the typical wait time? Did you claim the Earned Income Tax Credit or the Additional Child Tax Credit? Read on for what ...

The previous Income Tax Act was over 65 years old and had more than 800 sections. The new law reduces this to around 536 sections and removes many explanations and provisos that made the law ...

Missed filing your ITR ? The deadline may be over, but the law still gives you a chance to come clean with extra cost. Today's Ask Wallet Wise query decodes how to file the missed return for FY25 The ...

India's tax compliance system is undergoing a significant overhaul with the introduction of draft Income-Tax Rules, 2026 by ...

If your income tax refund has not been credited yet, you are not alone. The government has informed Parliament that nearly 24 ...

Possible prosecution, unless immunity or waiver is sought under section 440 (on payment of penalty at 120% of tax, subject to ...

For low- to moderate-income households in Allegan, Kent and Ottawa counties, free income tax assistance is available through ...

When it comes to their federal income tax returns, tens of millions of US households pay for tax preparation and filing. Yet ...

Income Tax Return: Under the new tax regime, the effective threshold may start from Rs 3 lakh for some, but mandatory filing ...