The court ruled that the reassessment notice was invalid, emphasizing that once an authority determines that reassessment is unnecessary, it cannot reverse its decision arbitrarily without a valid ...

Income Tax Notice makes even the best of people sweat. If you suddenly receive an Income Tax notice one day, it can be a big ...

The Delhi High Court has interpreted the Supreme Court's decision in Union of India v. Rajeev Bansal to elucidate the time ...

the Income Tax Department carefully reviews your submission. If the assessing officer (AO) finds that further details or clarifications are needed on certain disclosures, they will issue an inquiry ...

He said recently that consumers do not notice that they received the property tax credit from the state government because their accountant simply filled in a box on the state income tax form.

Wood is a tax lawyer focusing on taxes and litigation. Closeup of Form 1099-NEC and 1099-MISC. The IRS has reintroduced Form 1099-NEC as the new way to ... [+] report self-employment income ...

We spoke with several chartered accountants who file thousands of ITRs of their clients and here’s what issues they highlighted: Simplification of Income tax portal’s logic and improvement in notice ...

Form 1040 and no schedules except for Earned Income Tax Credit ... you understand an IRS notice you receive in the mail to representing you before the state or federal tax authority if the ...

Capital gains tax does not apply to real estate that qualifies as your principal residence for all years you owned it. Capital gains are often considered a form of “passive income.” ...

ITAT Bangalore held that penalty under section 271B of the Income Tax Act for delay in uploading audit report set aside as ...

Since the Appellant had filed delayed income tax for 2011-2012 and his compounding ... is the offence committed prior to the showcause notice, which was the case here for both years.