NEW DELHI: Armed with the SC order, the income tax department will revive Tiger Global’s assessment for 2018-19 and deal with its refund claim of Rs 968 crore, even as investors review their transactions with some in the pipeline expected to be delayed.On Thursday, SC had upheld the I-T department’s claim related to Tiger Global’s…
Nvidia has received the green signal to export advanced artificial intelligence chips to China! The US commerce department on Tuesday, signalled a policy shift, approving the tech giant to sell its H200 chips to Beijing, under certain restrictions.The development follows an announcement by US President Donald Trump last month permitting exports of the H200, provided…
BELAGAVI: The excise department has taken serious note of a recent incident in which a three-year-old boy was allegedly made to consume alcohol at a bar in Raibag town of Belagavi district.According to preliminary information, an elderly man brought the child to Pritam Bar and Restaurant and allegedly forced him to drink alcohol along with…
RAMPUR: A 40-year-old man, driver with the Uttar Pradesh power department, was killed in a road accident on the Nainital Highway in the Ganj Kotwali area of Rampur on Sunday evening after a truck loaded with wooden scrap toppled onto the vehicle, crushing it completely.The incident occurred at around 4.45 pm near the Pahadi Gate…
With just days left before the year-end compliance window closes, the Income Tax department has begun reaching out directly to multinational companies, asking them to alert Indian employees about undisclosed foreign assets and income, according to multiple tax advisors.Several large multinationals — including a global consumer healthcare firm, a wireless technology major and a US-based…
ROHTAK: The families are incensed. Aman’s father, Suresh Kumar, rejected the govt’s compensation of Rs 5 lakh. “We want an FIR against those responsible for my son’s death. It may not be ‘under the sports department’ on paper, but why did the department never intervene on safety? We do not want compensation or clean chits…
SRINAGAR: Over the past four days, a Himalayan black bear has been spotted nearly 10km apart at two premier institutions in Kashmir — University of Kashmir (UoK), Hazratbal, and Sher-i-Kashmir Institute of Medical Sciences (SKIMS), Srinagar’s leading tertiary-care hospital — triggering panic. The wildlife department has placed cages at key locations, deployed drones, and is…
The Income Tax department will begin sending SMS and email alerts from November 28 to about 25,000 individuals flagged as “high-risk” for not disclosing foreign assets in their income tax returns (ITRs) for Assessment Year 2025–26, PTI reported citing sources. The cases were shortlisted on the basis of data received from foreign jurisdictions under the…
The Cochin Income Tax Appellate Tribunal’s analysis centres on the taxpayer’s disclosure compliance. (AI image) While filing your income tax return and claiming tax exemptions, it is important to be aware of the limits and applicability. In one such case where the taxpayer was mistaken about the amount of tax exemption available to her for…
Gold jewellery worth Rs 1.65 crore and silver articles weighing 3 kg were seized from the residence of Suresh (name withheld) during an Income Tax Department search in November 2019. The Assessing Officer (AO) added the value to Suresh’s income as unexplained investment under Section 69 of the Income Tax Act, citing discrepancies between invoices,…