Your wrong tax refund claim can raise a red flag leading to tax notices and even jail in case of under-reporting of income; here’s how to avoid it

Employees who attempt to cheat the system with bogus tax deductions risk facing severe repercussions. The Income-Tax ...
Tax Guru

Consolidated Satisfaction Note Invalidates Search Assessment; 153C Proceedings Quashed

The Tribunal examined the validity of assessments initiated under Section 153C where the Assessing Officer recorded a single ...
Tax Guru

Entire TDS credit on maturity of bond allowed as interest income offered to tax on accrual basis

ITAT Agra held that entire TDS deducted on maturity of bond is allowable since assessee has already offered interest income on accrual basis. Accordingly, appeal of the assessee is allowed and TDS ...

Homebuyer to get Rs 1.28 crore refund with interest as MahaRERA raps builder for prolonged delay in getting OC

A homebuyer will receive a Rs 1.28 crore refund with interest from a builder. MahaRERA ordered the payment after the project ...

Senior citizen built home on Rs 22 lakh plot, sold for Rs 8 crore, got income tax notice; he fights and wins tax battle at ITAT

A senior citizen successfully appealed to the ITAT Bangalore, securing partial relief in a tax dispute over the sale of a ...