The Tribunal held that income is taxable in the year it accrues, not in the year TDS is deducted by the payer, rejecting addition based solely on Form ...
The Tribunal condoned an 86-day delay in filing the appeal, accepting the assessee’s unavoidable family issues as a reasonable cause. This confirms that genuine reasons can justify late appeals under ...
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Where’s My State Tax Refund? Find Your Tax Refund By State
Key Points ・Federal tax refunds typically arrive within 21 days for e-filed returns with direct deposit. Check the Federal ...
The Madras High Court held that delay in filing Form 10B required under Section 44AB for the purpose of Section 12A(1)(b) of ...
The good news is that a new tax benefit aimed at helping families with children under 17 is now in effect. For the tax years ...
Income Tax Department imposed Rs 23.07 crore penalty on ACC Ltd for past income issues Penalties cover assessment years 2015-16 and 2018-19 for inaccurate reporting ACC is a subsidiary of Adani Group ...
If you own “specified foreign property” where the total cost at any time in the year is more than $100,000, you’re required to complete Form T1135, Foreign Income Verification Statement with your ...
Some taxpayers who filed "bare trust" forms to the Canada Revenue Agency last year may have done so needlessly as the federal government examines further changes to the reporting requirements — ...
Tax audit requirements for AY 2025-26, as explained by Chartered Accountant Abhishek Soni, co-founder of Tax2Win in an ET report, fall under Section 44AB and apply to:- Businesses with turnover above ...
IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...
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ITR-5 and ITR-7 forms enabled for online filing: Who should file these income tax forms? What are their deadlines?
The Income Tax Department (I-T) on its official website has enabled the ITR-5 and ITR-7 forms for online filing. Both forms are available with prefilled data, the I-T Department has informed on its ...
The Internal Revenue Service has posted a draft version of Schedule 1-A, "Additional Deductions," for Form 1040 that will be used next tax season when claiming new tax breaks in the One Big Beautiful ...
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