The Central Board of Direct Taxes (CBDT) has notified Rule 8AC regarding computation of short-term capital gains where companies have claimed depreciation on goodwill from April 2020 till now.  ...

The applicability of two sets of laws for the same purpose of issuing notices and reopening assessments has left income tax assessees bewildered and tax practitioners peeved. The procedures related t...

Finance minister Nirmala Sitharaman on Tuesday asked Infosys to fix all issues on the new income tax portal immediately, while the software major said at least five technical glitches, including viewi...

Finance Minister Nirmala Sitharaman on Tuesday reviewed with Infosys officials the technical glitches that continue to mar the new income tax e-filing portal. Sitharaman, along with Minister of State...

Net direct tax collections have doubled to over Rs 1.85 lakh crore so far this fiscal, buoyed by personal income tax and advance tax payments, the I-T department said on Wednesday. Tax experts said th...

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The government on Saturday extended timelines for various income tax compliances, including the filing of belated or revised returns for 2019-20, till May 31. The Central Board of Direct Taxes (CBDT)...

The Central Board of Direct Taxes has extended the time frame for issue of assessment orders, notices and intimations under certain provisions of the Income Tax Act along with extension of time for pa...

NRIs and foreign nationals stuck in India because of the pandemic and facing double taxation can submit their details to the income tax department by the end of this month. The Central Board of Direc...

The government has lowered the period of reopening an assessment case to ensure greater compliance and build an environment of trust with the tax men, finance minister Nirmala Sitharaman said on Tuesd...