The mistake in calculating additional depreciation was deemed an unintentional error without any intention to evade tax (‘mens rea’). The ITAT emphasized that the assessee had shown a substantial ...

The Central Board of Direct Taxes (CBDT) has issued Notification No. 42/2025, dated May 1st, 2025, unveiling the new Income ...

Delhi, has granted relief to a 66-year-old senior citizen, Mukul Rani Thakur, by invalidating an assessment order for the Assessment Year 2021-22. The tribunal found that the assessment, pertaining to ...

The Tax Cuts and Jobs Act of 2017 needs Congressional approval to extend. Here's what happens if it doesn't happen.

The Tax Cuts and Jobs Act (TCJA) disproportionately benefited the working and middle classes, as evidenced by IRS data which ...

The Jharkhand High Court has quashed an order of the Income Tax Appellate Tribunal (ITAT), Circuit Bench, Ranchi, after finding that it was solely based on a precedent that had been overruled ...

Revenues of $212 Million, Up 107% From a Year Ago Adjusted Pre-Tax Income of $21 Million, GAAP Pre-Tax Income of $12 Million ...

The taxpayers need to carefully choose between the old and new tax regimes to claim the deductions under various sections of ...

Tax laws change frequently, with updates impacting the best tax planning practices for businesses across industries. Over the ...

Our panel of experts will answer questions related to any aspect of personal finance. If you have a query, mail it to us ...

Pay Advance Tax, if Required – If the total tax liability exceeds Rs. 10,000 (after considering deductions and rebates), the ...