Rs 1.5 crore tax refund withheld by Income Tax Dept due to mismatch between ITR and Form 26AS; taxpayer files case, wins in High Court

The Allahabad High Court ruled that tax officers cannot withhold refunds solely due to mismatches with Form 26AS. Taxpayers ...
Tax Guru

No prosecution u/s 276C for delayed tax payment without wilful evasion: Madras HC

Delayed self-assessment tax payment is not 'wilful evasion' under IT Act S. 276C(2) if the tax is paid before prosecution. Mens rea is ...
Tax Guru

Cash payments exceeding Rs.20,000 may be exempt if properly substantiated under Rule 6DD

HC held that large cash payments exceeding Rs.20,000 may be exempt if properly substantiated under Rule 6DD and business needs; Tribunal’s earlier disallowance set ...

IRS gives details on what lenders need to do for 2025 new car loan interest tax deduction

Transitional guidance released by the IRS on Oct. 21 gives auto lenders room for avoiding penalties when it comes to ...

Louisiana's top bonding attorney explains how New Orleans's request for payroll money will work

THE COUNCIL VOTED YESTERDAY TO GO TO THE STATE BOND COMMISSION TO GET APPROVAL TO BORROW $125 MILLION TO MAKE ENDS MEET AND ...

What we know about Trump’s bid to claim $230 million from his own Justice Department

President Donald Trump’s demand that his own Justice Department hand over $230 million as compensation for federal investigations into his behavior is an unprecedented example of how his past ...